Join host Todd Weyandt and guest Dan McCarthy of Dodge Data & Analytics as they discuss digital transformation’s effects on construction, how the industry can make the best use of data and analytics to drive future success, the “bleed” and “lag” that has become obvious in the construction industry, the essential nature of gathering the right data, and where in the world technology adoption is taking us.
Daniel (Dan) R. McCarthy is CEO of Dodge Data & Analytics, North America’s leading provider of commercial construction project data, market forecasting, analytics services and workflow integration solutions for the construction industry. Having started his career as a business analyst covering the technology, data and business information markets for Communications Trends, Inc., he has since led major growth transformation for multiple business-to-business and business-to-consumer firms in the data, information, paid content and marketing services sectors and has completed more than 50 transactions and financings to date.
- Interoperability needs to be front and center for construction. Dan said, “The utility of the information should not depend on the environment it lives on. The utility of the information should depend on how the user wants to deploy it in multiple environments.” That is a great summary of the industry’s future.
- We all know data is king but you need to take time to develop a game plan for your data. To help in that ask yourself these questions. What are the critical processes in your company? What constraints are on those processes? What visibility do you want on tracking? What can be tracked and why is it important? AND What do you want to learn from it? Once you answer these questions you will be able to form a more robust data plan to reap the benefits.
- Data consumption is evolving into learning more about the overall picture including the relationships with people and firms associated with the projects. In the end, it comes back to building relationships.