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The ways we turn data into value

Smart buildings get smarter every single day. They’re a bit like toddlers. The more they live and breathe, the more they learn and acquire new information about the environment around them. And with all this new information, or what we like to call data, we can program machines and computers to make our buildings even smarter with the new things they learn.

So, the next big question is: How do we turn all this data into actionable processes? Insights and optimizations that can help drive revenue, decrease capital costs, maintain resident comfort and ultimately drive “newly discovered” revenue back into your Condo corporation. This is how we approach HVAC systems at Parity.

Convert, convert, convert.

By tracking resident activity (in other words, how much water residents use in the morning, when they turn the heat down at night, etc.) we can read this data and spot inefficiencies like; heating water longer than needed or running ventilation systems too often, all of which result in energy wastage and money out of your pocket.

We take these gaps in the system, often found in the boiler rooms and chillers of condo buildings, and convert them into optimized changes like delivering warmer water when you need it, adjusting your thermostat at night. We convert these data points into action.

The more data we collect, the more we can convert this information into operational improvements.

Smart building conversion should look to maintain resident comfort, optimize energy usage to prevent waste by making subtle “data-backed” changes to the system. Which brings us to our next point.

Optimize. Always optimize.

Keep in mind, optimizing a building doesn’t have just one end goal. It’s not just about tracking resident behaviour and hoping they change their habits, it’s also about optimizing the environment around the technology like process, staff, and the structural building itself.

In order to achieve environmental optimization, it requires diverse teams with rich knowledge in different areas.

When the system and the technology are supported by a great team including technicians, engineers, designers, sales reps, and customer service folks, then the building can function better, delivering the optimal results whether that’s higher cost savings or improved energy efficiency.

A lean green machine.

We work with data in lean methods in order to produce more meaningful outcomes. We use data and machine learning to make, once-manual and convoluted processes quicker and smoother. Through every step of data processing such as formulating ideas, experimenting, validating and scaling technology, we look to add value to these steps. Adding value might look like delivering shorter lead times, quicker insights, and faster solutions to a problem.

It’s a marathon, not a sprint.

Data is like that toddler we talked about earlier; the toddler needs to grow in order to gain intelligence.

When we look at all that data – it’s hard to know where to start? How do I apply this to my condo? How will this information help me? What do I fix first? So, when we look at data, we start simple.

We collect data points from multiple touch-points in a building like CO2 levels, humidity, the temperature in order to better grow our data banks. We start with the simplest touch-points then we can expand to more complex data collection like monitoring equipment function.

There’s a lot that goes into data monetization and value-added benefits. By applying these steps to data collection, parsing, scaling and delivery, you start to see the true return on investment, whether that’s money to your pocketbook, positive team satisfaction or technology that stands out from the rest.

To learn more about how Parity uses data to put money back in your pocket, contact us (contact@paritygo.com or 1-833-372-7489)