Constructor - September/October 2014 - (Page 40)

Construction's USING BIG DATA TO PREDICT A CONTRACTOR'S NEXT MOVE BY KATIE KUEHNER-HEBERT W HILE RETA ILERS, A IRLI N ES A N D BANKS ARE leveraging their big data to make more accurate predictions to boost sales and improve operations, the construction industry is in its infancy in analyzing its databases to gain insight to boost performance. A growing number of contractors are finding ways to make their existing software "sing" - incorporating additional analytics they've created themselves into vendors' business intelligence software, to help them better estimate projects, manage finances and seek out future market opportunities. Both contractors and vendors alike say the efforts are rudimentary but encouraging, as the industry slowly evolves the tools to enable more sophisticated big data analytics. All point to future cloud-based capabilities (where software is accessed through a web browser and hosted by a software 40 constructor | SEPTEM BER/ O CTO BER 2014 provider) that would make it feasible - and more affordable -- for even the smallest contractors to leverage not only their data, but aggregate data across the industry. WHAT IS BIG DATA? Most contractors are not even sure exactly what big data means. According to a survey of 838 construction professionals conducted by Sage Construction and Real Estate, an Oregon-Columbia Chapter

Table of Contents for the Digital Edition of Constructor - September/October 2014

Editor’s Note
President’s Message
CEO’s Letter
All for One and One for All
Elector Set
The Construction Advocacy Fund: Funding the Fight
New Revenue Recognition Standard Developed With Construction Industry Input
Business Development
Enhancing the Design and Impact of Company Websites
Construction’s Crystal Ball
Simonson Says
AGC in Action
Squeaky Clean Construction
Spray Polyurethane Foam: A Candid Look
Technology Toolbox
Legislative and Regulatory News
Member and Chapter News
2014 Insurance Directory
Government Affairs
Index to Advertisers
Final Inspection

Constructor - September/October 2014