May 27, 2024

Real Estate, Real Foresight: How to Leverage AI to Predict Occupancy and Save Costs

How Cohesion OccupancyAI is helping real estate leaders use real-time data analytics to predict occupancy, estimate utilization, and reduce costs.

Shreya Bhatnagar
Article

As your organization navigates the complexities of tenants and employees returning to the office (RTO), the ability to predict and manage building occupancy has become increasingly critical. Understanding building occupancy isn't just a matter of convenience—it's a crucial component of efficient resource management.

Enter Cohesion's OccupancyAI, our game-changing technology that’s changing the way that both commercial and corporate real estate leaders use AI in the workplace. This innovation doesn't just predict foot traffic; it management and operations teams the ability to plan their operations with unprecedented accuracy.

How OccupancyAI Works

OccupancyAI uses advanced algorithms and real-time data from various smart building systems (access control, space reservations, occupancy sensors, HVAC monitoring) to analyze and predict the number of people occupying different spaces within a building based on historical trends. By integrating various data sources, including historical occupancy data, sensor and keycard data, and trends across the industry, OccupancyAI provides accurate forecasts that help manage energy consumption and resources more effectively.

Proactive Resource Allocation

Imagine knowing exactly how many people will be in your office next Tuesday or the groups expected to appear over the next two weeks (and even knows if that Monday before is a national holiday and adjust based on regional holiday calendars). This kind of foresight can revolutionize how we manage resources and plan for the future. OccupancyAI provides predictive insights up to 14 days in advance, offering a clear picture of future office use.

This capability isn't just about filling desks; it's about enabling a proactive approach to resource allocation.

Consider the impact this foresight could have on your day-to-day operations. With accurate occupancy predictions, you can ensure that labor, food services, and janitorial needs are perfectly matched to demand. No more overstaffing or under stocking; you'll have the exact resources needed to maintain a smooth and efficient operation. This level of precision also reduces waste and operational costs, driving significant savings by building or across an entire portfolio of properties.

But the benefits don't stop there. For facilities managers, this technology is a potential goldmine. It allows you to tailor heating, ventilation, and air conditioning (HVAC) systems to actual usage patterns (rather than running them at full capacity in a half-empty building). This targeted approach to energy use not only cuts costs but also supports sustainability targets and compliance—something every modern organization is striving for.

See It In Action

Watch Cohesion VP of Product Chadwick Flores walkthrough OccupancyAI in this short video:

Return to the Office in Comfort

Let's not overlook the enhanced employee experience.

Predictable occupancy means that employees will find the resources they need readily available, whether it's a clean desk, a conference room ready for meetings, a well-stocked pantry, or an immaculately serviced restroom.

Every element of employee experience contributes to a more comfortable and productive work environment, which is crucial as companies strive to entice employees back to the office as RTO initiatives sweep across industries.

The insights provided by OccupancyAI can also guide long-term strategic decisions. For example, if data shows that specific departments consistently underutilize their allotted space, it might be time to rethink your office or even consider downsizing your overall footprint. And, if other common areas are constantly bustling, expanding those spaces might enhance productivity and employee satisfaction.

Ready to Experience this Yourself?

Cohesion's OccupancyAI is not just a tool — it's a completely new way to think about real estate operations that continues to extend our mission to make smart buildings smrater than ever. By harnessing the power of AI to predict building occupancy, you can transform resource management from a reactive task into a proactive strategy. This foresight enables you to optimize your operations, from staffing and maintenance to energy use and space allocation.

The future of workplace management is here, and it's intelligent, data-driven, and exact. With OccupancyAI, you're not just keeping up with the times—you're staying ahead of the curve.

Ready to revolutionize how your operations with the power of AI? GIve us a call, use the form below, or book a demo today to learn more about Cohesion's OccupancyAI and see how it can transform your real estate strategy for the next 14 days – and beyond.

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