Business owners can efficiently track inventory, improve space utilization, lower operating expenses, enhance customers’ experiences and tighten security by deploying digital sensing devices that make use of radio-frequency identification (RFID) tags, Wi-Fi and smartphones. These devices, known generally as beacons and sensors, are nothing new in commercial properties; the ability to control temperature, track inventory and send advertising messages to shoppers through their smartphones has become commonplace.
Read more about Beacons and Sensors in Commercial Real Estate
This brief provides an overview of some of the ways that simple, tiny, affordable and ubiquitous sensors are being used in commercial real estate settings. It addresses radio-frequency identification, geofencing, beacon technology, and WELL™ and RESET™ technologies, and it concludes with the broader challenges associated with using networked digital data-collection systems.