I am trying to create an application that needs to exchange small size of data - just to notify that the devices are close enough - for as long as the smart phone is running. I
Recently two different Bluetooth technology available :
Consumes only a fraction of the power of Classic Bluetooth radios.
Powered by small, coin-cell batteries.
Can operate these devices for more than a year without recharging.
Enhanced range : optimize range to 200 feet and beyond.
Ultra-low peak, average and idle mode power consumption.
Lower implementation costs.
Multi-vendor interoperability.
Data Transfers : 8 octet minimum up to 27 octets of packet maximum.
Speed : 1 Mbps.
Advanced sniff-sub rating to achieve ultra low duty cycles.
Range : 100 meters ( Increased modulation index ). Range may vary depending on class of radio used in an implementation:
Class 3 radios – have a range of up to 1 meter or 3 feet
Class 2 radios – most commonly found in mobile devices – have a range of 10 meters or 33 feet
Class 1 radios – used primarily in industrial use cases – have a range of 100 meters or 300 feet
This information is from : http://www.bluetooth.com/Pages/Bluetooth-Smart.aspx
For more information regarding classic Bluetooth or BLE you can check above link.