NOVEMBER 2023CONSTRUCTIONTECHREVIEW.COM8IN MYOPINIONBy Alex Zeines, Chief Technology Officer and Atul Paralkar, Director of Business Intelligence, JRM Construction ManagementTHE IMPORTANCE OF BUSINESS INTELLIGENCE IN CONSTRUCTIONThe construction industry, which has traditionally been slow to adopt digital transformation, is currently undergoing a significant shift. The pandemic has seen an unprecedented influx of technological innovation, much of it out of necessity and some out of oppor-tunity. This presents a certain amount of turbulence in the industry landscape as companies grapple with the pace of change. While most refrain from being early adopters in our industry, a few others are open to piloting point solutions for unresolved challenges. Furthermore, the appetite for such new adoption seems to increase on opposite ends of the spectrum ­ either for less data-mature companies or those with larger, more established teams and strategies. With the integration of business intelligence (BI) tools, the sector is witnessing transformative improvements in market strategy, safety, customer experience, and overall project effectiveness. As more and more construction firms recognize the potential of BI, it's becoming clear that the era of manual processes and intuition-based decisions is being replaced by data-driven approaches.When firms in growth mode adopt new processes and technology in an ad-hoc manner, it gives rise to more silos, redundancies, and inefficiencies. The lack of a comprehensive strategy in selection, adoption, and implementation causes more problems than it solves. We at JRM Construction Management recognize that business intelligence, technology, operational excellence, and strategy are more interconnected than ever, and the way we evaluate our initiatives reflects that comprehensive approach.Market StrategyEvery business thrives on making informed decisions based on current market trends, customer demands, and emerging technologies. In construction, this translates into understanding where potential clients might be, what types of buildings or infrastructure are in demand, and how to deliver projects in the most cost-effective manner.BI tools can analyze vast amounts of data from various sources ­ such as past projects, competitor analysis, and market trends ­ to provide a clear picture of where the market is heading. With this insight, construction companies can:- Identify growth opportunities in areas previously overlooked.- Predict which services will be in demand and prepare their teams accordingly.- Strategically bid on projects, leveraging insights into which ventures are likely to be the most profitable.SafetyConstruction is notoriously one of the most hazardous industries. The manual nature of many tasks, combined with the complexity of construction sites, poses significant safety risks. Here's where BI comes into play:- Predictive Analysis: BI tools can predict potential safety issues by analyzing past incidents and identifying patterns. This enables firms to take proactive measures before a problem arises.- Real-time Monitoring: Many BI systems can be integrated with IoT devices and sensors that provide real-time data about equipment health, worker fatigue, or hazardous environmental conditions. This instant feedback can be instrumental in preventing accidents.- Safety Training: By understanding which areas pose the most significant risks, companies can offer targeted training sessions, ensuring that workers are well-prepared for specific challenges they might face on the job.Atul Paralkar
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