The construction industry is a hugely varied sector ranging from massive infrastructures to mining and forestry and range of activities in between. The industry contributes to 7% of GDP1 and accounts for roughly 3million jobs (10% of total UK employment)2
So how can data enhance the construction industry?
A survey of construction companies by our integration partner, Sage in2014 found that:
- 57% would like consistent, up to date financial and project information.
- 48% want to be warned when specific situations occur.
- 41% want forecasting to allow them to better prepare for best and worst case scenarios.
- 14% would like online analytics, for example to see exactly which factor are impacting on profitability and by how much.
Data can offer many opportunities for detailed insights which can create analysis, status reports and forecasts. Data cleansing can ensure that the database is clean and accurate which means that the analysis and forecasts will be more reliable and up to date. The analytics from this can provide more helpful indications of levels of risk before it becomes a problem and an alert generated.
Furthermore, data can be used to drive Business Information Modelling Systems which can reduces costs of projects and cut completion times. Data can also be used for expansion; we have recently provided our data supply solutions (including telemarketing solutions) to a pan European company operating in 350 locations across 16 European countries.
Data validation ensures that only correct information is being input into systems and any bogus information is left out. With the industry being so large, contacts around the world must be saved correctly in the database to allow for efficient communications.