You’ve deployed HCSS Intelligence. Now what? Five factors that Influence your success

In HCSS Intelligence, Insights, Lantern Posts by Marc Krichman

Heavy Construction Companies Turn to HCSS Intelligence

It’s well understood that organizations which use data perform better than those that don’t. As a result, heavy construction companies are turning to business intelligence (BI) tools like HCSS Intelligence. HCSS Intelligence helps execute business strategies, improve project delivery, and drive cost and process efficiencies from across their organizations.

However, deploying HCSS Intelligence can be daunting. After all, according to Gartner, an estimated 70-80% of BI projects fail. While there aren’t any … Read More

Business Intelligence in Heavy Construction. Where do we start?

In HCSS Intelligence, Lantern Posts by Marc Krichman

Every construction company wants an easy-to-use dashboard that displays all that’s important to the business. This includes KPIs, trends, and other BI concepts. Very few companies know where to start though. After being involved with several companies which successfully implemented HCSS Intelligence, a new Business Intelligence tool by HCSS for heavy construction, I’d make two recommendations: first, assign someone from the management team to drive the project and second, start small and build.

Assign a Management Driver

Typically, what … Read More

Lantern Data Systems Presenting Two HCSS Intelligence Classes at HCSS’s UGM 2018

In HCSS Intelligence, Lantern Posts, News by Marc Krichman

Sacramento, CA – January 24, 2018 – Today, Lantern Data Systems, a business intelligence and analytics company specializing in design, engineering and heavy construction companies, announced its inclusion HCSS’s UGM 2018 class presentations.

Marc Krichman, Lantern’s Co-Founder & President, highlighted the benefits of the HCSS class presentations. “Lantern Data Systems is absolutely thrilled to present two classes on HCSS Intelligence, a new business intelligence application specifically for HCSS customers. Class participants will get an in-depth view of the tool and … Read More

Calling all AEC Companies… Are you using Excel to manage data for your company?

In Lantern Posts, Musings by Marc Krichman

 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

In Insights, Musings by Marc Krichman

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

In Lantern Posts, Musings by Marc Krichman

data-03-1167482-1279x904

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

  1. Increase efficiency. How many different projects does your construction company handle at one time? Likely more than any one person can oversee
Read More

Common Terms in Business Intelligence for the Construction Industry

In Insights, Lantern Posts by Marc Krichman

dictionary-1426438-1280x960Business 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

View Post

5 Tips for Getting Started with Business Intelligence in AEC

In Insights, Musings by Marc Krichman

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

In Lantern Posts by Marc Krichman

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

In Insights, Musings by Marc Krichman

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