Opportunities of external data within companies in promoting new business and sustainability on the real estate and construction sector Antti Säynäjoki Postdoctoral Researcher Aalto University / Real Estate Business EUROPEAN REAL ESTATE SOCIETY 30.6.2017

Structure of the presentation Background of smart building data utilization Research process Results of the empirical study Findings (Internet of Buildings framework) Discussion

Key asset in digitalized solutions – knowledge from data Sensors and actuators are constantly gathering data from smart buildings Data is stored and used in development of products and services Examples of knowledge provided by data: How are the conditions in the buildings? What are the individual user preferences and use patterns? Which spaces have been in heavy use? Which building components are in bad shape

Empirical study What is the state of data utilization on the REC sector? Empirical study: Slush 2015 startup convention Datasets of 1700 startups (150 REC startups) Some interviews Two industry workshops Roughly 30 participants from companies operating on the REC related industries

Results of the empirical study Smart technology is well developed  large amount of data is collected for smart systems and applications User behavior, energy consumption/production, indoor conditions, system failures, security etc. Currently data is mostly used in own services / products Value of external distribution of data is not realized yet

Opportunities of data distribution

Opportunities of data distribution

Suggestion for a solution An infrastructure for stakeholder co-operation & data distribution A platform model An ecosystem for data value creation The roles from data commercialization literature  Internet of Buildings (IoB) framework

IoB framework for data distribution Modified from a platform model of Gawer & Cusumano (2014)

Roles of data commercialization ecosystems Presented by Thomas & Leiponen (2016) Data supplier Data manager Data custodian Data aggregator Application developer Service Provider

IoB framework for data distribution Modified from a platform model of Gawer & Cusumano (2014) with ecosystem roles of Thomas & Leiponen (2016) Data supplier Data manager Data supplier Service provider App developer Data custodian Data aggregator Data supplier

Discussion Drawing value from data requires the whole value creation chain from data extraction to data compatible business models One step is irrelevant without the others Issues related to security & privacy Who will take to platform ownership: risks vs opportunities – the nature of platforms is ”winner takes it all”