The effects of big data and its influence on organizational decision making can be seen in almost every aspect of business, from information technology to marketing and human resources. Building and facilities management is no exception. Technological advances in monitoring tools and software allow facility managers access to vast amounts of data about a building’s energy use. But how can managers use this data to operate a facility at peak efficiency?
Enter the measurement and verification (M&V) plan. M&V is the process by which facility stakeholders track the performance of a piece of equipment, a system or an entire facility. Performance is measured against past or estimated performance of another piece of equipment, system or facility. This approach gives higher visibility into detailed energy usage data, which can then be used to identify opportunities for increased efficiency, enable better decision making and increase ROI on existing and new equipment installations.