SMB Demonstrates How to Leverage Business Intelligence for Construction Industry
Business Intelligence Does Not Have to be a Challenge for the SMB
If you are operating in the SMB space, it is easy to assume that the business intelligence solutions available to you are too far out of reach or too complicated to implement. The stories of data cleanup, massive integration and major revisions to common workflows have either kept companies like yours from investing in business intelligence solutions, or have made it more difficult for you to compete effectively when developing your business intelligence platforms. If you have the right support from your company leaders, an IT staff that is appropriately trained, and the right vision for your implementation, you can realize significant results from business intelligence initiatives.
One Construction Company Makes Business Intelligence Work
Design-build and general contracting services corporation, TMG Construction was facing a dilemma. The company had grown from a small business to a medium-sized business and implemented the typical IT platforms they believed were necessary to ensure their success over time and as growth continued. Even with basic accounting and documentation systems in place, TMG Construction knew that an integrated system would provide a total picture of the business’s performance. This level of business intelligence would help the company to have the necessary leg up on the competition, and better position the company for growth.
Business Intelligence to Track Margin
TMG was in a fortunate position in that the company understood that business intelligence would help it to better track margin on construction projects. They also needed the business intelligence solution to gauge the work-in-progress schedule, and analyze sales statistics, the project backlog and earned revenue. To accomplish this, the company needed metrics that could be calculated as soon as data changes in the key business system. This approach would ensure real-time information was always available and easily presented for key decisions and reporting functions. With the right business intelligence tools in place, these requirements could be easily met.
To Leverage Business Intelligence – It’s All in the Design
TMG had already established that they needed to leverage business intelligence in their industry, and they also knew how it should be applied across the SMB. To ensure they could capitalize on their current skills, meet their current and future needs, and continue to drive growth, TMG designed a business intelligence solution that exactly fit their environment. They took six months to accomplish the project, but the result was a business intelligence platform that allowed them to analyze data in real-time, to make business decisions to drive profitable growth.
Business intelligence does not have to be a scary or in-depth process. Instead, it adds value to the current environment, allowing you to leverage data you already have, to drive growth and profitability.