Every small or large business comes with data, which can be from any source, whether it be your company’s internal part or external. It’s no different in terms of the construction industry whether you are a contractor, supplier or consultant! And to keep your construction domain ahead of the game, you need proper market analysis where business intelligence comes in.

Business intelligence works as a pair of eyes for you providing analytical details of the current construction market and go-ons within your business. It helps you make the correct decision for the business.

A business intelligence system is the best way to go if you want to make data-driven decisions for your construction business. It provides you with a complete view of all your business aspects.

In today’s blog, we are going to tell you how you can bring a business intelligence system into your corporate infrastructure.

Let’s Have an Idea First About Business Intelligence System Infrastructure.

Business intelligence, also known as, BI comes with a set of practices, from collection to structure to analysis to use the raw data in actions to have a depth-in insight into your construction business. It involves different tools and methods to structure your data sets and turn those into information dashboards easy to understand.

In short, including a business intelligence system in your existing infrastructure will help you make data-driven decisions and take actions considering business insights. But to bring this into business perfectly for the right decision-making, you need to follow the whole process, including four different stages:

• Gathering data
• Standardisation data
• Analysis
• Creating a report

The implementation of business intelligence in your construction project involves different cutting-edge tools and technologies to complete the processing. Business intelligence system infrastructure covers every stage mentioned above.

Now, here are simple steps for BI integration in your construction domain-

Step 1: Introduce BI to Your Staff and Stakeholders-

Suppose you are a contractor planning to implement business intelligence in your construction company. For this, you need to explain the entire BI process to your stakeholders and employees. And since every department is going to be involved in the business intelligence system infrastructure, mutual understanding is all you need. Make sure you all are on the same page without any confusion!

Step 2: Look for a Tailored Solution-

Every business is different, and so are the implementation methods and tools for business intelligence as well. When you are a supplier in the construction industry, the choice of tools will be different from those for contractors. Yet, you need to find and choose the right tool for your needs. A wrong choice can reverse the action!

Step 3: Have Your BI Team-

To bring your business intelligence strategy into action, you should create a BI team involving your employees from different departments to have specific insights into every aspect during the data-gathering stage. Also, it will be helpful in the next step to document your BI strategy after collecting data, like your company size, current construction industry market, competition and much more.

Step 4: Set up the Tool for BI Integration-

This phase is time-consuming since you and your BI team need to develop different structural elements to find out a tailored solution, suited for your construction business. After that, you need to utilise the end-user interface, including reporting dashboards and tools, to bring value to the end user through the business intelligence system. And finally, you need to conduct a training session for the end users.

Bottom Line

You may have understood how to bring business intelligence system infrastructure into your existing one. But of course, it’s time-consuming and needs a lot of research that can shift your focus from the other essential activities of your business.

What if you have a helping hand to take care of everything? We are here for that. At PROJECT INTEL, we can provide you with a complete market analysis of the construction industry, including professional recommendations and reviews, whether it be residential or commercial. Our analysis tool provides only accurate data. You can have the latest insight and keep your construction domain beforehand of your competitors.

Just with a click, you can have all the construction intelligence data! Click here to request a demo!