Data Analytics Are a Useful Tool for Small Players in Construction Industry

Terms like big data, analytics, and the Internet of Things (IoT) have become buzzwords in the Heavy Building Materials markets in recent years, and industry members are learning that they need to abandon a lot of manual processes and embrace this technology-driven era. However, there is the misconception that these solutions are only suited for massive firms that have booked large projects. More so, some of the smaller players in the construction sector think that these innovative solutions may be out of their price range. Fortunately, even smaller projects and moderately sized firms can leverage data analytics to improve their operations.

According to an article by Construction Executive magazine, the best way to start using analytics is with real-time jobsite data. 

“Project managers are effectively held hostage to how quickly paper reports are filled out, brought to the office and manually rekeyed into the company’s computer systems,” according to the article. “Furthermore, collecting information on paper makes digital analytics impossible. Without accurate, actionable intelligence, managers end up chasing problems that have already surfaced, instead of being able to spot potential issues and quickly address them before things go seriously awry.”

However, despite the hurdles that may seem too high to overcome, digitizing your operations is not as difficult as you may think. In fact, there’s one way your team is already ahead of the game — they likely all use smartphones. Project managers especially are likely using these on the jobsite. These devices can house applications that can capture data, thus eliminating the need for tedious pen-and-paper tasks.

Excitingly, once a company starts to digitally collect data, more analytics opportunities arise to optimize daily operations, increase efficiency, and improve ROI. Some benefits of embracing analytics software include:

  • Seeing project status in real-time
  • Long-term cost savings
  • Improved materials management
  • Increase in job safety and reduction of accidents
  • More work bids

Read the full article on Construction Executive’s website to learn why analytics technology is no longer reserved for the biggest players in the industry, and why smaller operations shouldn’t risk being left behind.

Previous Article
What’s the Difference Between Transparency, Traceability, and Visibility?
What’s the Difference Between Transparency, Traceability, and Visibility?

When it comes to successful supply chain operations, having transparent work processes, traceability of mat...

Next Article
Just Ask Jim: What is Good Customer Service?
Just Ask Jim: What is Good Customer Service?

Follow these guidelines to maximize your client’s customer service experience, starting with a phone call.