In my years as a technology executive, I’ve witnessed trends come and go. I’ve also watched the construction industry change and evolve at an ever-increasing pace. I’ve experienced firsthand how easy it is to get stuck in my ways and resist advancements in new technologies and modern software applications. Admittedly, it’s easy to get caught up in day-to-day projects and lose sight of long-term goals.
However, the fact is––resisting evolution and modernization comes at a high cost to those of us working in construction. Many projects are a black hole—executives and project teams have little to no insight into whether their projects are running on time and within budget. To put it bluntly, companies are throwing away millions of dollars annually––simply because they are too stubborn to modernize their business and utilize critical business insights.
Worse, many of the applications currently being used are so out of date that organizations have been left with data that is not only siloed but entirely inaccessible. Ask any person in finance, and they’ll tell you—disparate systems that are left unable to effectively communicate with one another is not a recipe for success. Further, construction companies are not only comprised of disparate systems; they are an ecosystem involving many moving parts. It’s no wonder that a majority of data is lost in space. It’s nearly impossible to manually keep track of work-in-progress reports, payroll information, customer billing, internal progress reporting, external progress reporting, and more. You get the idea. There are many moving parts.
So, what is the solution? Embrace change. Modernize your systems. Find and use the good data for positive business impacts.
The fact is that technology has become so efficient in recent years that there is simply no reason to still rely solely on legacy systems. Moreover, Technology Advisory Experts have dedicated their careers to assisting construction companies in selecting new software and configuring that software to fit their unique needs while ensuring interoperability with legacy systems, thus, making critical data insights accessible. Further, utilizing this type of expertise costs you pennies upfront compared to the amount of money you will save – and make – in the long run.
What’s more, the possibilities are endless. Data can now be streamlined into a single, robust, connected ecosystem, unlocking the patterns behind the optimal performance. Workers on the field and employees in the office can access critical information simultaneously and in real time, allowing them to make informed decisions with all the necessary information.
Big data analytics is here to stay. In fact, data insights are the future of the construction industry. They are imperative to the long-term success of your organization. So what are you waiting for? Take your company to the next level.