• Sustainability
  • Projects
  • Circularity
  • Technology
  • Awards
    • Top Products
  • Living Lab
  • Archives
    • ConnectedWorld
    • Constructech
What's Hot

Halfway through 2022: A Mid-Year IoT Checkup

July 1, 2022

Fact of the Day – 7/1/2022

July 1, 2022

Six Simple Tips to Get the Most Out of Your HVAC System

July 1, 2022
Get your Copy Today
Facebook Twitter Instagram
Facebook Twitter Instagram
Connected WorldConnected World
  • Sustainability
  • Projects
  • Circularity
  • Technology
  • Awards
    • Top Products
  • Living Lab
  • Archives
    • ConnectedWorld
    • Constructech
Connected WorldConnected World
Home » Construction, Inflation, and the Need for Productivity
Technology

Construction, Inflation, and the Need for Productivity

Updated:May 24, 2022No Comments2 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr WhatsApp Email
Share
Facebook Twitter LinkedIn WhatsApp Pinterest Email

Inflation is on the rise, and that leaves many businesses with a big decision to make—including those in the construction industry. In order to deal with the steep rise in inflation, is your company increasing prices or investing in the analytics that will ultimately increase productivity and lower labor costs?

One analyst has weighed in, with results from a recent survey. In December 2021, Gartner surveyed 400 finance executives. Here’s what it found. The most selected combination of value and technology was self-service data and analytics as a driver of employee productivity. Roughly 49% of respondents indicate this perception of the technology. What’s more at least one in four respondents also saw it as being a driver of increased organizational speed and agility.

Let’s dig in a bit deeper to the specific technologies that are helping. Self-service data analytics refers to technologies and processes users leverage with minimal involvement from IT departments. The technology is enabled by low-code or no-code tools in areas such as analytics and business intelligence, data preparation, and data catalogs.

The analyst firm suggests advanced data and analytics and AI (artificial intelligence) technologies are driving high value. Specific areas where investment are expected to increase are self-service data analytics, automated ML (machine learning) and ML, cloud analytics, big data analytics, and predictive analytics.

Big data analytics and predictive analytics were the top technology categories for driving higher revenue through improving products or services. Additionally, one in three finance executives see clear value. Still, ML and cloud analytics technologies were seen as the best bets to improve cost efficiency with approximately one in five respondents indicating this.

What we have learned here is as companies look to address the impact of inflation on a company’s bottomline, self-service analytics will be key. Do you agree? What hurdles must we overcome in order to embrace this?

Want to tweet about this article? Use hashtags #construction #IoT #sustainability #AI #5G #cloud #edge #futureofwork #infrastructure 

5G AI Analytics Cloud Construction Edge Future of Work Inflation Infrastructure IoT Labor Laura’s Blog Productivity Sustainability
Share. Facebook Twitter Pinterest LinkedIn Tumblr WhatsApp Email

Related Posts

Halfway through 2022: A Mid-Year IoT Checkup

July 1, 2022

Can We Trust Our Devices?

July 1, 2022

Six Simple Tips to Get the Most Out of Your HVAC System

July 1, 2022

Consumers Report their Electricity Bill Is Too High

July 1, 2022

Homebuilding: Cooling Down?

July 1, 2022

Oil and Gas in the Cloud

July 1, 2022
Add A Comment

Comments are closed.

Get Your Copy Today
ABOUT US

Connected World works to expand quality of life and influence a sustainable future through digital transformation, innovation, and create opportunities all around.

We’re accepting new partnerships and radio guests right now.

Email Us: info@connectedworld.com

4611 Hard Scrabble Road
Suite 109-276
Columbia, SC  29229

 

Our Picks
  • Halfway through 2022: A Mid-Year IoT Checkup
  • Fact of the Day – 7/1/2022
  • Six Simple Tips to Get the Most Out of Your HVAC System
Specialty Publishing Media

Questions? Please contact us at info@connectedworld.com

Press Room

Privacy Policy

Media Kit

Facebook Twitter Instagram YouTube LinkedIn
© 2022 Connected World.

Type above and press Enter to search. Press Esc to cancel.