Contractors report increasing ability to gather and analyze data helps improve project outcomes like budget, productivity and profitability
NEW YORK – July 9, 2019 – A new report released today by Dodge Data & Analytics, in collaboration with construction management software provider Viewpoint, a Trimble company, reveals a sea change in the way project data is gathered and analyzed across the construction industry—change that is poised to improve key project outcomes according to construction managers, specialty trade contractors and design/build firms surveyed. Tied to increased technology use and advancements, 64 percent of those who participated in the report said that their ability to gather and analyze data has improved or improved significantly.
The report, titled Improving Performance with Project Data SmartMarket Report: How Improved Collection and Analysis is Leading to the Digital Transformation of the Construction Industry, reveals that contractors believe improvements in field data collection will bring impactful change over the next three years, driving the industry’s digital transformation. If critical business data normalization can be accomplished, the results can increase key project outcomes such as budget, productivity and profitability.
The findings also reveal some important calls to action for continuous improvement in the industry:
“Gathering siloed data from across their organization to analyze and improve project outcomes is a key challenge we work with clients to overcome daily,” said Viewpoint Chief Product & Strategy Officer Matt Harris. “Contractors are demanding easier, better and more consistent collection of data—from the office, across their extended teams and into the field—in order to enable better measurement of project performance and drive toward greater gains.”
The report also points to current and emerging means of gathering data via apps, cameras, sensors and wearables. “We think this is a critical area to watch in the future,” says Steve Jones, Senior Director of Industry Insights Research at Dodge Data & Analytics. “The smarter jobsite will transform the industry, but companies need their data gathering and analytics fundamentals in place before they can fully profit from all of the exciting technology that is now emerging, funded by an influx of venture capital, and directly addressing industry needs to reduce risk, improve productivity and improve safety.”
A complimentary version of the full SmartMarket Report is available at: viewpoint.com/analyticsreport.
An online survey of contractors was conducted by Dodge Data & Analytics. A total of 187 responses are included in the analysis, including 140 prime contractors (general contractors, construction managers, construction design/contracting firms, design-builders and others) and 47 specialty trade contractors.
About Viewpoint: Viewpoint, a Trimble company (NASDAQ: TRMB), is a leading global provider of integrated software solutions for the construction industry. Viewpoint software enables customers to integrate operations across the office, team and field to improve project profitability, enhance productivity, manage risk and effectively collaborate across the broad construction ecosystem. With nearly 8,000 clients, including more than 40 percent of the ENR 400, Viewpoint’s innovations are transforming the construction industry by fully integrating operations across financial and HR systems, project management tools and mobile field solutions. For more information, visit: viewpoint.com.
: Dodge Data & Analytics is North America’s leading provider of commercial construction project data, market forecasting & analytics services and workflow integration solutions for the construction industry. Building product manufacturers, architects, engineers, contractors, and service providers leverage Dodge to identify and pursue unseen growth opportunities that help them grow their business. On a local, regional or national level, Dodge empowers its customers to better understand their markets, uncover key relationships, size growth opportunities, and pursue specific sales opportunities with success. The company’s construction project information is the most comprehensive and verified in the industry. Dodge is leveraging its more than 125-year-old legacy of continuous innovation to help the industry meet the building challenges of the future. Learn more at www.construction.com.
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