16 July 2020
Running a profitable construction company is no easy feat. One thing that can prove difficult is keeping up with the most relevant technology solutions.
Don’t worry, though – you’ve come to the right place. Detailed below are five construction industry trends impacted by digital transformation. Knowing them will help keep you up-to-date and modern.
After all, it’s worthwhile to stand out ahead of any potential construction-related market competitors. Especially considering that the industry builds more than $1 trillion worth of buildings each year.
In other words, you need to invest in resources that can take your construction business to the next level. Keep reading to learn how you might be able to do so.
1. Streamlining Operations Is Essential to Stay Competitive
As mentioned above, the construction industry is a vast and growing one.
If you want to maintain a solid foundation within your local market, you need to streamline company operations. The more efficient and strategic you can be about your business’s workflow, the more profitable it will be.
In fact, one of today’s major industry trends involves increased pressure on companies like yours to deliver. You can bet your market competitors are going through their own digital transformation. To inspire loyalty to your business, you need to be even more efficient in your strategic operations.
When you invest in the right technology resources, your company’s projects will be completed more quickly. Streamline workplace operations with automated software solutions that meet your unique needs.
2. Don’t Underestimate the Importance of Artificial Intelligence (AI)
Speaking of an automated solution, AI is an important industry trend to recognize, too.
You might assume that AI is in the distant future, but you should think again. After all, experts suggest that by the year 2025, AI-driven companies will be 10x more efficient than their competitors.
Embracing automation, then, is vital if you want your construction company to grow. The accuracy and efficiency of AI-driven systems are invaluable.
For one thing, using AI to process business tasks will reduce the potential for human error. Instead, allow your employees to prioritize other responsibilities in the workplace. With this increased productivity, you can even reduce your company to a smaller labor force to save even more costs.
In addition, making the most of AI-driven solutions will help your company stay up-to-date with future technologies. Otherwise, you can trust that you’ll get left behind in the past. Proper AI and digital solutions are the only way forward.
3. Safety-Related Construction Industry Trends
It’s no secret that proper safety procedures are non-negotiable on construction sites.
For one thing, you don’t want to put your construction employees at any unnecessary risk while on the job. In addition, you know that there are legal requirements concerning construction safety policies.
That’s why industry regulations require specific safety training and on-site inspections. In recent times, and in the expected future, safety regulations will only get stricter. Thankfully, your company’s digital transformation will help with industry safety compliance.
With automated documentation and tracking, never fail a safety inspection. You can log employees’ comings and goings, record employee safety training, and more. It’s up to you, though, to determine how a digital solution can enhance your company’s safety-related policies and procedures.
4. Make the Most of Analytic Data About Your Clients
When it comes to a modern digital transformation, recognize the end goal: consumers. Your construction company relies on clients who need building projects completed. If you aren’t connecting with those clients well, the business will suffer.
As the industry becomes more digital, you might assume the human element falls behind. Rather, you’ll find a trend that is promoting genuine human connectivity.
Companies are learning to use big data to find human behavioral patterns. As a result, they can predict the needs of their consumers better than ever. Your clients want to feel valued and appreciated for their business after all.
One idea is to invest in a digital marketing solution that tailors to those clients. What are their buying habits and internal values?
Answering these kinds of questions can help you plan your data-driven marketing solution. It can then bring in the profits you need for real growth.
Use analytic data about your consumers to serve them better. This kind of feedback is the best way to ensure you attract and maintain long-term consumer loyalty. For more specific guidance, check out this article on examining consumer behavior data.
5. Real-Time Company Collaboration and Project Management
The last industry trend to consider is that of internal communication. These days, it’s expected that you and your remote employees can all stay on the same page every second of the day. For that reason, you’ll need to rely on a real-time digital collaboration solution.
Take the time to consider what your company’s project management needs are. How can your supervisors and employees be more efficient when delegating tasks? How can you automate the generation of invoices or other company communication documents?
Of course, construction projects are done outdoors. It’s obvious, then, that mobile access to your company’s digital tools is essential, too.
This is yet another way to boost productivity with your digital solution. Your employees, in particular, will appreciate your dedication to modern tech tools.
Continue Investing in Your Construction Company’s Digital Solutions
At this point in the article, you have a thorough understanding of today’s relevant construction industry trends. You’re prepared to invest in digital solutions that will keep your construction business thriving in the future.
That’s where our experts can come into play. We prioritize bringing executive leaders like yourself the most reliable data-driven solutions on the market. We want to help ensure your construction operations are optimized at every level.
For that reason, we encourage you to browse through the rest of our website today. On our blog, you’ll find the latest and greatest trends in data management and digital trends.
To start, check out more details about our data consulting services available. That way, you can get a qualified outside perspective to guide you through your digital transformation. The “future” is now!