Related ReportGet the Extensive Industry Report by Viewpoint and Dodge Data & Analytics
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We Teamed with Dodge Data & Analytics to Produce Industry Report on the Digital Transformation of the Construction Industry
Here is a peek at five intriguing stats from that report:
76% — Commercial software has the highest average satisfaction rate (76%) as a means for contractors to gather crucial data from their projects. In fact, the report shows that commercial software excels in all categories (timeliness of data, accuracy, level of detail and ability to analyze across projects) over methods like paper forms, spreadsheets and custom-designed software.
“To optimize the use of data collected from the field for better analysis and decision-making, it is critical that the data is timely, accurate, sufficiently detailed and comprehensive enough to extrapolate across multiple projects,” the report notes.
82% — General, heavy highway and civil contractors have fully embraced the use of apps on mobile devices to capture field data, with 82 percent of firms surveyed reporting the use of these applications. Meanwhile, 72 percent of specialty trade contractors are also relying on mobile applications. Contractors are also increasingly using technologies like drones, cameras, sensors and wearables on the jobsite.
“Almost all (94%) of the general contractors are using at least one of these devices, but nearly a quarter (23%) of trades are still not using any,” the report notes.
70% and 71% — Ability to access data from the office while on the jobsite was noted by 70% of respondents as a key reason for managing their data in the cloud, while 71% of respondents noted the ability to access real-time data from the field while in the office was a key driver.
“Conversely, lower cost rates high (third) among all reasons, but next to last among the most important,” the report notes. “While almost always included in ‘check the box’ concerns, cost falls back when considering important process improvements with tangible benefits.”
78% — While moving further into automated systems, 78 percent of contractors are still using some mix of software automation and spreadsheets. The largest number of both general (34%) and specialty contractors (38%) have moved to mostly automated systems with some remaining reliance on spreadsheets, and 11% of general contractors and 6% of specialty contractors have moved to completely automated processes. Still, 13% of general contractors and 9% of specialty contractors are relying solely on spreadsheets.
“The spreadsheet is a well-established tool in global business for analyzing data and generating useful reports. It also serves as many users’ first foray into digitization,” the report notes. “But most construction companies re now transitioning to using data analysis software systems that have been developed specifically for the construction industry.”
21% — Nearly a quarter of contractors surveyed have already had some experience with predictive analysis of data and business intelligence. That compares with just 7% for artificial intelligence and 6% for machine learning. The largest group of respondents noted they are aware of and understand the concepts of each of these emerging technologies but have not implemented them in their own organizations — 39% for predictive analysis; 47% for artificial intelligence; and 33% for machine learning.
“As technology continues to advance, these capabilities will be increasingly applied to the design and construction industry,” the report notes. “It is an exciting future, and contractors should work with their industry organizations, technology partners and collaborative team members to learn about, embrace and prosper from these coming changes.”
Far beyond developing construction accounting and project management software solutions, Viewpoint partners with contractors to help them fully modernize their operations and scale for the future, taking advantage of the next wave of benefits that new technologies and big data will bring. By both listening to clients’ needs and engaging directly with the latest cutting-edge technologies available, we’ve developed a full suite of construction solutions that connect entire project teams, deliver deep understanding of project data, automate workflows and boost productivity, and increase profit margins while cutting construction costs. Among these:
Construction data is the backbone of each of our technology solutions. And changing the way contractors look at that data and apply benchmarks can open the door to better planning and better projects.
By delivering data in real time, through integrated, cloud-based software platforms with leading-edge security measures and providing the tools and functionality within to work with that data in ways they never could before, Viewpoint is committed to helping our clients transform their entire operations and better scale them for the future.
Contact us today to learn how your organization can simplify work and expand the scope of what you can do with your project data.