Using Big Data for Construction Business Development

You hear terms like “actionable insights,” “business intelligence,” and “tools” but they’re not talking about screwdrivers, IQ, or 5-year plans. Big data is a reality impacting every segment of the construction industry.

When it comes to construction business development and management, what you don’t know can hurt you.

Construction Business Development: Managing Information

Let’s talk about one large construction project.

• The project involves approximately:
  • 130 million emails
  • 55 million documents
  • 12 million workflows
• 13% of construction teams’ working hours are spent looking for project data/information
• 95.5% of all data captured goes unused
• 30% of engineering/construction companies use software apps that don’t integrate with one another

Building a Better Toolbox

The “right tools” are what you need to manage big data, and more importantly, increase business opportunities. For many years, some construction industry-related organizations simply avoided the issue. (They may be out of business by now.)

But what are the right tools?

Your first task is to admit your current data is all over the place. Gather the information you have from various employees’ hard drives, blueprints, log sheets, PDFs, cloud storage, and even Rolodexes (Yes, some still use them.) and “integrate” the data into one location.

‘We’re Looking for It…’

If you could harness the time spent by various teams “looking for” information, you’d be able to corral the next decade. Follow the leaders in the construction industry and switch to:

• BIM (building information modeling)
  • Collaboration
  • Automated workflows between employees and stakeholders
  • Supplier collaboration for transactions
• Connected jobsites
• Equipment locators/tracking
• Geolocators
• Materials movements
• Prefabrication methods
• Tracking sensors
• Virtual reality
• Wearables

The Best Business-Building Tool for Construction Business Development

Analytics software for your business depends on the size of your organization and growth trends. But knowledgeable business development for the construction industry depends on Construction Monitor. We analyze between 8,000-12,000 new building permits every week.

“I hear people say there aren’t many jobs,” said one Construction Monitor representative, “And I then retrieve real-time, local construction business development information in minutes.”

The jobs are there. 

We’re not “just selling” construction business development information. We’re selling the support and business-building tools that go with it. Contact Construction Monitor to learn more about construction business development for your company.