Data The Ultimate Key to Unlock Constructions Potential
Data: The Ultimate Key to Unlock Construction’s Potential
Craig Mundie, a senior advisor to the CEO at Microsoft once said:
“Data is becoming the new raw material of business.”
In other words, today’s business marketplace is a data-driven environment. And here’s the thing:
Technology is the mother while data is the offspring. None can exist without the other. It’s therefore time for the construction industry to take advantage of technological advances.
Here’s how innovations and the resulting data can have a transformative impact on your business if used effectively:
#1. Improving compliance
By embracing new technologies, firms are able to adhere to set regulations.
#2. Enhancing quality control
New developments will ensure uniformity during production.
Innovations such as drones and wearables can help reduce onsite accidents.
#4. Better organized projects
Most processes are still being conducted manually hence the need for quick access to information and timely communication.
#5. Attracting top talent
If the construction industry needs to appeal to the millennials then the industry needs to embrace innovative technologies.
#6. Staying competitive
For instance, there’s an increasing concern about climate change and this has led to sustainability becoming more important to customers. Data insights will allow companies to reduce wastage and also lead to the development of more energy-efficient structures.
The Interesting Part?
Construction executives appreciate the role technology plays in improving operations, but a significant number are still stuck using systems that are decades old. Because let’s be honest, sometimes we know what needs to be done but still can’t take action.
Now think about this:
52% of construction rework is caused by poor project data and communication.
That means that there’s a gap between the potential a technology offers and the ability to put it to work effectively. In other words, the data collected in the process offers vast potential but only if the construction stakeholders implement it correctly.
So what are some of the challenges that people are facing when implementing construction technology?
#1. Fear of missing out (FOMO)
No doubt that technology is useful. But, you don’t need to invest in every innovation because what works for others may not necessarily work for you. Instead, do extensive research before investing in any technology and make sure that it meets your needs.
#2. Failing to implement the right systems and procedures
Acquiring new technology is just a start. To realize its full potential, you need to integrate the software with your current business processes.
#3. Inadequate training of staff
To get the most out of a technology, a company needs to train its employees on how to use it. Just because a software claims to be ‘user-friendly’ doesn’t mean that no training is required.
#4. Poor monitoring of data
Investing in technology is only half the story, monitoring data is the other half. The process can seem tiresome and unnecessary, but it’s the most efficient way to measure progress towards your goals.
Finally, construction projects will only get more complex hence the need to implement technology in all phases from tendering to completion. The resulting data will not only lead to informed decisions, you will have solutions to problems, stay on top of trends and be able to analyze new insights to great effect.
Here’s how to successfully implement new technology in your organization:
● Look for technologies that will solve the problems in your company.
● Assemble a team to champion the new technology.
● Implement the new technology using a pilot program to identify possible issues and gain buy-in.
● Do a complete launch and fine-tune as your needs change.
Do You Want it?
Data can have a significant impact on almost every area of your construction enterprise. Of course, the data will only be meaningful if you are able to interpret what it means for your business and then be willing to act on those insights.
By working smarter, you will gain a competitive advantage that will directly affect your firm’s results.
And the best part?
We are here to help you implement technology in your construction business.