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
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
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
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
Lantern Data Systems Added To Procore’s App Marketplace: Offers Tailored AEC Dashboards And Analytics To Procore Customers.
Make better, data-driven decisions by combining data from Procore and other construction systems into one business intelligence platform.
Sacramento, CA – October 19, 2016 – Today, Lantern Data Systems, a business intelligence and analytics company specializing in design, engineering and construction companies, announced its inclusion into Procore’s expanded App Marketplace enabling joint customers to connect their construction project management data to Lantern’s AEC business intelligence platform.
Marc Krichman, Lantern’s Co-Founder & President, highlighted the benefits of the partnership. “Now Procore … Read More
5 Steps to Help AEC Firms Implement a Data Strategy
The ever-growing digitalization of our world has created a massive amount of data about nearly every aspect of our lives. Every internet site (including this one), click, search engine term and purchase is recorded and associated either with our online identity or in a cookie. Not to mention the devices; smartwatches, smart home devices and the Internet of Things. Though all wonderful pieces of technology, the net effect is that the service providers know an amazing amount of information about … Read More
Developing an Executive Dashboard for Construction
How do you monitor a construction project in progress? It’s important for project teams to have a clear idea of what’s going on in the project at all times, so that they can make informed decisions when necessary. But what’s the best way to keep them in the loop? Use an executive dashboard.
What Is an Executive Dashboard?
As its name implies, an executive dashboard is a single location from which project teams can view at a glance all of … Read More
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