Construction is a difficult business with a lot of guesswork, but when you incorporate construction analytics benefits into your process, it can make the process much easier. As a part of an overall digital transformation strategy, the benefits of analytics can have a strong impact on your company's productivity, profitability and scheduling. But how do you take advantage of this new technology? How do you leverage it to the best benefit of your business? In this post, we'll explain the issues faced in the construction industry, how construction analytics are improving productivity and a quick glance at what you can find in our new Ebook, 8 Construction Analytics Benefits, which will give you a deep dive into the benefits of construction analytics.
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Problem: Construction Industry is Suffering from Low Productivity
The construction industry has never been known for having the highest level of efficiency, due to a wide range of issues. Schedules are delayed, costs overrun, and profitability suffers. How do you protect your business from these types of issues? Combine that with new companies entering the industry, narrower margins, higher expectations from clients and problems finding and retaining skilled labor, and you've got a perfect storm that can sink your business.
But how will these issues impact your business? American Builders and Contractors reports that an estimated 650,000 workers will need to enter the industry to keep up with demand in 2022. Where will you find them in a tight labor market? RS Means has shown that 93% of the items in its job costing catalogs have changed, including labor, equipment and materials. How will your business deal with these increases impacting your profitability? Digital Builder reports that 23% of firms are looking at ways to improve job site productivity. How will your firm compete?
Solution: New Construction Analytics Tools Changing the Industry
One option that many companies are going with is adding construction analytics into their digital transformation and operational maturity strategies. Construction analytics are a key part of this process, and should have a center seat in your strategy, because it impacts so many other areas of your business.
Considered a next-generation analytics tool, schedule analytics looks at how your company operates in the field. It allows you to find areas where you could tighten up your on-site performance to improve profitability, complete construction on schedule and remain competitive in the industry. Our new ebook, 8 Construction Analytics Benefits, will cover many of the benefits of analytics in construction.
What’s Inside the Ebook: 8 Construction Analytics Benefits?
So what benefits can you expect to see in our ebook?
Reduce or eliminate schedule delays to improve client relations and profitability.
Save time through automated analysis and reporting that eliminates manual calculation.
Save money by not hiring consultants, lowering disputes and claims, and taking out fewer project license fees.
Reduce risk while ensuring greater predictability on your projects.
Improve visibility and access to your projects' statistics to make smarter decisions faster.
Improve communication within your business and with key stakeholders.
Improve performance in terms of efficiency, productivity and delivery to improve project outcomes.
Increase profitability and growth by improving margins and scaling ability.
You'll also discover why many construction businesses are having problems with their overall digital transformation process, what to look for in an outstanding construction analytics package, how to use construction analytics to improve project delivery and much more!
Want to Learn More About the Benefits of Analytics?
If you're excited about the possibility of how construction analytics can benefit your business, you don't have to wait any longer! SmartPM has our new ebook 8 Construction Analytics Benefits, a great resource for you to discover, available for you to download right now. Click this link to discover what you need to know to get your business started with construction analytics benefits.
Discover the 8 Benefits of Constructiion Analytics