16Aug
Impacts of Business Intelligence in the Construction Industry: 4 Top Advantages

Recently, GCC countries have become industrial hubs, especially with the immense growth in the construction industry. And, the secret behind this growth of construction companies is their limitless access to data, more than ever before. Thanks to business intelligence (BI) technology, construction enterprises can access a huge amount of data on the latest updated information about the GCC construction market, including residential and commercial construction market analysis, with high accuracy. As a result, it helps not just with decision-making but also meeting the growing demands.

Wonder how this simple BI software helps the construction industry? Here, we unfold the secret.

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Here’s How Business Intelligence (BI) Benefits Construction Companies

Business Intelligence software is a detailed process of collecting, monitoring and analysing data related to the construction field, ensuring better project performance and informed decision-making. You can have an in-depth insight into real-time updates on the construction projects across GCC.

With well-implemented BI technology, you can collect raw data from various sources, from specifications to drawings to estimates. After gathering in a centralised location, this data is used for in-depth analysis and real-time monitoring, while tracking the progress of ongoing construction projects. Compared to traditional data management and analysis, like static reports, business intelligence (BI) technology can produce faster-visualised data, including interactive graphs and charts, with accuracy and real-time updates. Overall, this data-driven decision-making boosts the construction productivity of your company. Moreover, you don’t have to make vital decisions based solely on intuition.

Besides these, here are some more benefits you can have by integrating business intelligence (BI) software into your construction market analysis:

Quick Decision-Making

Compared to any other sector, construction companies have to deal with a huge amount of data. Analysing them manually won’t give an accurate insight into vital decision-making, but construction business intelligence software does. A well-integrated BI allows better data analysis and evaluation by providing accurate information in the bigger picture, improving informed decision-making. Moreover, you can make immediate decisions regarding your project areas with its automated and real-time data updates.

No More Reliance on Intuition–

Traditionally, gut instinct or intuitions used to be the most valuable way to make informed decisions in the construction industry. However, it involved risks since the entire decision solely relied on guesswork. With the emergence of business intelligence (BI), this risk has been eliminated from construction projects in terms of business decisions. Data-driven decisions ensure accuracy rather than following just gut instincts.

Tailored Reporting

The best part of having centralised data is that you can use it in the best possible ways for your construction projects’ operational models. And, leveraging BI allows you to customise those abundance of data according to your specific construction reporting needs. With its interactive reporting abilities, you can easily integrate BI reports into your project workflows, while communicating and collaborating through it with your project stakeholders. Hence, there’s no need to visit the site to report any progress or issues.

Maximising Efficiency and Opportunities–

The biggest problem in the construction industry has always been pulling data from multiple sources, which requires both time and money. In fact, that data can even be inaccurate or outdated. With state-of-the-art BI construction technology, you can access all the required data from a single source and rest assured about its accuracy and real-time information. Moreover, its intricate breakdown helps you identify issues and assess performance in all areas, from project progress to completion.

To Conclude

So, are you ready to integrate BI into your construction projects? If yes, it’s time to switch to PROJECT INTELL from your traditional data management methods. It is a real-time construction intelligence platform offering a clear outlook of the latest GCC construction market analysis under a single roof. This construction intelligence data analysis tool gives your sales team leads for business.

Start your trial today or request a demo now!
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1Mar
A Guide to the Middle East Construction Market and Importance of In-depth Analysis

In 2024, the Middle East construction market is witnessing substantial and sudden growth in the construction market. Just like any other industry, the construction market in GCC countries had to suffer for a long period after the pandemic. So, most of the GCC countries experience a decline in the construction market growth till 2021.

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During that period, the construction market may encounter slow growth and less construction awards. However, the GCC construction industry has a faster recovery thanks to the increasing prices of oil and restart of the delayed projects. And, it was the start as the Middle East construction sector never had to look back. As the construction market of most GCC countries succeeded to rebound in 2021, this sector had been experiencing a slow yet steady growth since then.

Middle East Construction Market: Segmental and Market Share Analysis

In 2023, the infrastructure segment dominated the Middle East construction market, comprising over 40% of the total share. This segment is projected to maintain steady growth in the foreseeable future, fueled by government investments and the initiation of new projects.

The construction sector in the Gulf Cooperation Council (GCC) region is poised for robust expansion in the short to medium term, surpassing broader economic growth with an estimated annual average of 3.5-4% between 2023 and 2024. This positive outlook is driven by increased project financing stemming from record-high energy export revenues and ongoing efforts across the GCC to implement long-term development plans in both energy and non-energy sectors.

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A substantial pipeline of projects exists across various sectors, including energy, power, water, transportation infrastructure, commercial and residential real estate, and industrial developments. This presents lucrative opportunities for domestic and international contractors, consultants, and suppliers to engage in GCC contracts.

The oil and gas sector will continue to dominate contract awards, necessitating construction activities to enhance and maintain production capacity. Additionally, residential and commercial real estate projects, essential infrastructure development such as transportation, power, and water systems, and industrial expansions will further bolster the construction sector and its associated supply chains.

The focus will primarily be on government-backed infrastructure initiatives encompassing highways, railways, seaports, airports, bridges, and water sewage systems. Furthermore, real estate ventures, energy transition projects, transportation enhancements (particularly railway development), capacity building in the energy sector (including oil, gas, and liquefied natural gas production), and industrial expansions are expected to feature prominently in the GCC project pipeline through 2026.

Why PROJECT INTEL?

PROJECT INTEL is a comprehensive source of GCC construction project sales leads, market analysis, forecasting, and company intelligence. It keeps records of every concept, design, tender, under construction, and completed project to give users access to up-to-date construction leads and project details with a complete market analysis for the construction industry. You can learn about the risks, potentials, and opportunities associated with the ever-growing GCC construction market with real-time data. PROJECT INTEL provides over 5 years of construction outlook for GCC countries and with 20+ industry sectors.

With PROJECT INTEL, you can analyze past, ongoing projects for better management and use of data in the future for lead generation. This tool allows you to conduct an in-depth analysis of the construction sector and other GCC countries and find the best strategy and possibilities in the current market to generate new leads and find sales leads and opportunities. 

The PROJECT INTEL portal-

  • Enables clients look for sales and opportunities by giving them easy access to real-time data.
  • Limits their clients’ search by providing comprehensive details of particular construction projects or companies.
  • Helps clients manage their sales pipeline and allow strategic business planning with forecasts.
  • Grab new business opportunities with real-time project and company updates.

If you are looking for detailed analysis and real-time data on the construction market in the Middle East countries, learn about the PROJECT INTEL portal and custom packages for all sizes for professionals, SMB, or corporates.

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