SME and Data Analytics
The construction industry is a complex ecosystem, involving multiple stakeholders with disparate data points that must come together seamlessly to deliver successful projects. Unfortunately, according to recent research, a staggering 95.5% of data captured in this industry goes unused, and 13% of construction team working hours are wasted searching for project data and information. To make matters worse, 30% of engineering and construction (E&C) companies are using applications that don’t even integrate with each other.
The potential benefits of connecting all available data to a business are enormous, particularly in the construction industry where factors like cost, time, quality, and safety have significant impacts. Despite the availability of data and the introduction of disruptive technologies, the construction industry has been slow to harness big data. The result is a large gap in decision-making capabilities.
Individual spreadsheets, emails, and WhatsApp chats have become the default method for sharing data, leading to an unwieldy and unmanageable amount of information. Yet, if construction firms streamlined their data management and integrated business analytics into their existing processes, they could consolidate and harness all that data for better decision-making.
The solution to these problems may lie in intuitive visual tools that don’t require code, work faster with a platform that enables data integration and distribution, and extend the platform with building blocks.
Our co-founders, who have a civil engineering background, are initially focusing on the business processes in the construction sector. However, we plan to develop functional expertise to apply this model to other industries in the future. The potential for using technology and functional expertise to drive business success is enormous, and we look forward to helping firms close the digital gap and optimize their operations.
“90% of CEOs believe the digital economy will impact their industry, but less than 15% are executing on a digital strategy”
MIT Sloan and Capgemini