Research by Procore Technologies Inc., a leading global provider of construction management software, shows that the Philippines is leading among surveyed Southeast Asian countries in plans to adopt data strategy in the construction industry.
Propcore Technologies said that 80% of construction businesses in the Philippines plan to design and implement a data strategy over the next 12 months, higher than Malaysia and Singapore at 76% and the region’s average at 77%. Construction professionals are also keen on adopting technology and harnessing data to improve cost management, reduce reliance on human labor, more efficient work, improve build quality, and enhanced the ability to handle more projects.
However, although there is a high awareness of the advantages of using data strategy and a strong interest to adopt data strategy in their construction business, only 6% of the surveyed enterprises in the region have laid a foundation for a data strategy, while 52% are somewhat confident that they have the ability to utilize data in their operations within a year. One factor that makes construction enterprises hesitant in integrating data into operations is that they want to see a clear picture of the return on investments of implementing a data strategy. As such, software vendors will need to clearly demonstrate the returns on investment, thereby justifying the indispensability of construction technology and data management.
(Source: Philippine News Agency)