Foresight to navigate the turbulent construction market
'Attack the Flat' - Article #1
In today's challenging construction sector, companies are looking for new ways of doing more for less. With foresight at a premium, making the most of the data available – 'data analytics' – becomes a critical component in the fight for survival.
The use of data analytics has grown exponentially in many other industries, such as oil and gas, mining and retail, as businesses seek to better understand their operations, suppliers, customers and risks.
And while the use of analytics to identify exceptions in transaction processing and contract costs is well established in construction, there remains huge potential in applying the same techniques to unlock greater value and predictive insights in a number of key areas for contractors.
Unlocking more value from data
Drawing on Deloitte's expertise and best practice in construction and comparable industries, this article explores how analytics can be applied to:
- Improve health and safety
- Enhance cost and contract control
- Reduce the risk of loss-making projects
- Deliver greater efficiencies in logistics
- Combat fraud.
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This is the first article in a new Deloitte series, 'Attack the Flat', exploring the key strategies for contractors adapting to succeed in the challenging construction market.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.