Total construction starts decreased 19% in September to a seasonally adjusted annual rate of $1.02 trillion, according to Dodge Construction Network. In September, nonresidential building starts dropped 23%, residential starts fell 11%, and nonbuilding starts declined by 25%. As I always say, during a downturn, we need to improve our business processes and heighten efficiencies—and one of the best ways to do that is with technology.
Dodge aims to help construction companies become more efficient with its new platform Dodge Construction Central 2.0, which offers realtime insights, builds new relationships, and accelerates decision making.
“Dodge Construction Central 2.0 came to fruition from a classic problem-solution pathway,” says Steve Masters, senior vice president of product management at Dodge. “The AEC (architecture, engineering, and construction) industry has never had more digital tools than it does today, but still the industry is largely disconnected. We see small and large companies alike becoming siloed, both in data and in communication. The challenge now is to simplify construction’s increasing complexity and ensure reliable growth, improved scale, and increased profitability for all involved.”
What’s interesting is that this new product integrates the critical construction industry content within Dodge Data & Analytics, The Blue Book Network, IMS, and Sweets into one platform and interface.
“The integration of our data pools into a UX shortens the link to customer success,” he says. “It accelerates the digital transformation of commercial construction, giving access to critical, reliable data and insights to even more companies.” In a day and age when construction can use all the help it can get it’s nice to see a more concerted effort to help the industry leverage data.
With a customizable user interface, DCC 2.0 provides a new way to access and leverage data using increased business intelligence capabilities. Built from a large dataset in the construction industry, Dodge Construction Central 2.0 delivers accessible, actionable content, including networks, project data, company, and product catalogs in one destination.
With the new platform, users can connect with other commercial construction professionals and businesses, gather insight on ongoing projects, plans, specifications, and addenda to support a bidding process, and promote their brand to bidding projects.
Masters explains there are many benefits for the user including integration of critical construction industry content, access to timely intelligence, and up-to-date data to make decisions. He also says, “In addition, it enables smaller companies to compete and do business amongst larger companies, by getting through the process more efficiently.”
At the end of the day, that is the value technology brings to construction. It helps win more bids and enables projects to be done on time and on budget, ultimately resulting in more profitable projects. And with a potential downturn in the future, construction companies will need technology to be successful during slower times.
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