Creating a Digital Twin
You must have heard of proptech, smart buildings and the Internet of Things? We’re huge believers in these game-changing concepts here at Tate Consulting.
Our expertise in the development of digital technology – or the application of the Internet of Things (IoT) in real estate assets – helps us lead the way. We’re using these revolutionary principles in buildings to improve incremental value and monetisation, bringing huge rewards for our clients.
The Internet of Things (IoT) is nothing new. It’s simply an evolution of the internet. However, the business ramifications of IoT are infinitesimal, and are already driving the new results-based Outcome Economy.
Traditionally engineers look at IoT technology as a networking problem, mapping protocols from where the field sensor data comes into an application. Tate Consulting believes that this is fundamentally the wrong way to look at proptech – at least from a business perspective.
Let’s be honest. This is the plumbing end and not where the value originates. Incremental value from the use of proptech originates from transforming field sensor data into useful information. IoT is pure information technology, and information is from where its value emanates.
Taking a business view of IoT systems in buildings means organising building data into useful information so that it adds value through monetisation.
One of the most profound benefits of using the IoT properly is the unprecedented view we get into what makes our clients tick. It helps us create and deliver an entirely bespoke service for them.
And that’s where our ‘digital twin’ comes in. We use 3D building design models to carry out dynamic building simulation models at the outset to develop a ‘digital twin’ of the physical building asset. This allows us to generate early insight and knowledge, meaning we can advance building innovation, design and construction methods. What’s more, it also helps us build operating and maintenance platforms over the completed building’s entire life cycle. Proptech? It really is as revolutionary as it sounds.