I attended the inaugural Advancing Construction Analytics conference a few weeks ago, which was the first conference I’m aware of that focused solely on promoting data-driven decision making in our industry. Aside from mentioning this was a long time coming, like any technology-focused conference in our industry, there seemed to be several themes which emerged both through direct conversation and by walking around listening for interesting snippets of conversation at breaks, meals and bar time.
Risk and reward: mining data to avoid problems
Say the word “risk” to a construction professional and many will think first of personal safety. When measured by risk of fatal injury, the Bureau of Labor Statistics consistently ranks a number of construction trades among the top 25 riskiest jobs. (Please take care, roofers!)… Read More
Calling all AEC Companies… Are you using Excel to manage data for your company?
If so, there is a 90% chance
your data is inaccurate.
We’ve entered the time where more and more companies are realizing the value and importance of data in multiple areas of their business, from operations to finance to production to staffing.
But we’ve also entered the time when companies use the wrong tools to visualize and communicate the data: namely, Excel. In fact, a recent survey on management styles and communication found that over 20% of surveyed team members … Read More
How to Build a BI Budget
The new budgeting year is fast approaching, and you’re going to have a new focus on business intelligence. Understanding your data and how it affects your daily operations is an important goal. The question is, how much will it cost, and how will you pay for it? Before you go implementing a new BI program, you need to budget for it. Here’s how to approach a BI budget for the new year that will provide you with the resources you … Read More
Why Construction Companies Should Use Data
Data is becoming increasingly important in a plethora of industries, from healthcare to manufacturing to retail and more. So what about construction? Is there a use for data analysis and interpretation in the construction industry? In fact, there are quite a few uses.
Here are three things you can accomplish in construction with the proper use of data… Read More
Common Terms in Business Intelligence for the Construction Industry
Business intelligence is a complex and often difficult subject to understand fully. It seems everyone is talking about it, but what are they saying, and what does it mean? Part of the problem is the plethora of technical terms and jargon that people use when discussing BI. Knowing and understanding those terms is the first step towards understanding business intelligence. So here’s a guide to some of the most important BI terms, to help you get a handle on what … Read More
5 Tips for Getting Started with Business Intelligence in AEC
In today’s competitive construction landscape, where speed and agility in decision-making are critical, a comprehensive business intelligence plan is essential for organizing and understanding your data. But creating and implementing a strategy can be a bit daunting, particularly if it’s your first foray into BI. So how do you get started with business intelligence?
Here are 5 Tips for Getting Started with Business Intelligence in AEC:
1. Understand Your Needs.
What kind of data does your organization deal with? Which … Read More
Business Intelligence: If You Can Measure It, You Can Manage It
Healthy profit margins don’t come easily to construction companies. Every project is different, so it’s hard to deliver consistent quality on time, within budget. The key is to avoid problems before they arise and implement best practices across the organization. And that takes information.
Enter business intelligence (BI). BI aggregates information from multiple sources and presents it in easy-to-grasp formats. Decision makers use that information to identify problems, single out best practices, and improve the performance of individuals and the … Read More
Business Intelligence vs. Business Analytics for Construction Companies
These days, there’s a lot of talk going around about both business intelligence and business analytics. They both involve leveraging the data of your company in order to grow, evolve, and become more efficient. But what’s the difference between them? Often, the two terms are used interchangeably, and many people seem to disagree on what separates one from the other. So here’s a definitive, albeit brief guide to business intelligence vs. business analytics for construction companies.
The Basic Differences
Let’s … Read More
Construction Executive Tech Trends Article: Five Tips for Making a Smart Business Intelligence Investment
Click the image to be taken to the article!… Read More