Part I of this two-part series on business intelligence in construction covered the different aspects of business intelligence and analysis and their potential for the industry. Part II offers practical advice about implementing business intelligence (BI) in an organization.
As with all things in information technology, improving a company’s use of business information starts with data, a resource of which most contractors have no lack. But quantity is not the only criteria to consider. Data is only as valuable as it is timely and accurate.
Building out a complete, timely and accurate data set as a foundation for better business intelligence is “step zero.” However, for some firms, this can be a significant challenge. Without even trying, contractors become inundated with plans, specs, contracts, invoices, project logs – thousands of data points from dozens of sources.
These data sources help contractors know what to do on the job, but do not necessarily help them know how best to do it. Data that helps a contractor work safer and more efficiently is usually data that the contractor needs to capture for themselves. A few of many types of data that contractors are capturing in real time and analyzing from their jobsites include:
Contractors do typically capture these and many other data points from their jobsites, but usually not in real time and often involving error-prone and time-consuming manual data entry. New data capture technologies are emerging to address this gap, among them:
Choose Technologies
Regardless of the amount or types of data gathered from the field, the information technology choices a contractor makes to store, process and share this data are key to the ability to extract value from it. Three technologies in particular will impact a contractor’s ability to implement an effective BI strategy:
A big part of the power of BI depends upon access to data collected in a common format and a single database. This does not mean that all departments can or should use the same applications to get work done, but it does beg the need for a common platform or ERP system that can serve up as many of the applications as possible. This single-platform approach also reduces the need for the integration work and inevitable rework needed to keep disparate systems working together.
As with most new processes or technologies, contractors will get out as much as they put into the adoption of business intelligence in their companies. And as with most new things, it is advisable to walk before running. If the firm has yet to adopt personalized dashboards or other “BI basics,” it likely does not make sense to dive into the deep end of artificial intelligence. Here is a seven-step approach to building BI capabilities:
As powerful as BI and predictive analysis can be for the construction industry, it is important to remember that it is just one of the means to an end – profitable and safe project delivery. Construction is a team sport and teams that stay connected—from groundbreaking to top out and from the office to the field—are the teams that tend to win.
Companies who embrace business intelligence to improve operations make smarter, data-driven decisions. And by sharing this intelligence across the firm, they help create a more collaborative, productive, and safer work environment for everyone.
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