Let’s be frank: the warranty phase of construction is a financial black hole that
Over the last couple decades, we’ve seen most industries move toward more logical, data-driven business intelligence models. Construction is one of the last remnants still leaning on the precipice—without fully committing—to true business intelligence. Surely, data is being collected. Closeout makes certain of that. In most cases, however, that data is not being reported and systematized to make more informed decisions moving forward. At the moment, there’s a massive black hole in widespread construction data-informed decision making. But that’s about to change.
It doesn’t take much to notice that the trend of business intelligence is on the up and up, and has been for some time. Google, Apple, Netflix, Facebook, Spotify... really any of the other relevant tech brands that get its own animated building in the opening credits of Silicon Valley dedicate entire departments solely to user data collection. The data a company can mine from a single user is more valuable than the total intrinsic value of that user. How can this be exactly? From a pure logic standpoint, businesses that make data-informed decisions are more successful. Through data collection and interpretation, companies can optimize current operational efforts while giving more value to their users. Happy users means more users, and more users means more success.
Look at it this way—data collection informs the future, and the future can be more prosperous for brand and user alike when the brand amasses enough business intelligence. Remember that Sandra Bullock movie Bird Box last Christmas? It was sort of like A Quiet Place, but switched the monster gimmick from sound to sight? Odds are if you didn’t watch it, you at least heard about it from everyone you know and went out of your way to not watch it. It was reported that 45 million people watched Bird Box over Christmas break. Make no mistake, the film’s success wasn’t a fluke—it was a calculated production based on data it collected from its users. Through business intelligence and data analytics, Netflix knew fully well that their audience craved nothing more than Sandra Bullock, blindfolds, and scary music right after a visit from Saint Nick and just before heading into 2019.
And it’s not just Netflix. Facebook shows you ads that so closely cater to your hopes and dreams (and Amazon wishlists) that refutations from spokesmen of the app literally listening to you are as dependable as the rising sun. Similarly, Spotify looks at your listening data, digests it through an algorithm, and spits out a weekly playlist for you based on your niche music tastes. No matter the industry, if a company makes decisions steeped less on emotion or what theoretically “makes sense” and more on crunching and interpreting hard data, there is a greater guarantee of success. In construction, the most successful general contractors have already been internally investing in analytics teams for years. More data means more business intelligence, which equals more success.
Data-informed decision making through Warranty Management
Through the data collection of Buildr’s warranty management, the idea is that data can be captured from post-construction and fed back into your decision-making processes. Data can inform which subcontractors you use in the future, which equipment is most dependable, how long it will take and how much money it will cost for certain types of issues to get resolved. There’s been a revolution of data collecting in the last 10 years due to the progression of modern computers but there is still room to improve in the way that the data is mashed together. What good is collecting data if you’re not looking at each individual slice vs. every slice together? What good is collecting data if every new slice isn’t fed back and married into your ever-evolving business intelligence system?
Here’s the thing—you obviously care about data. It helps every process in your day-to-day life run smoother. Post-construction, in a nutshell, is the collection of historical data relevant to the preservation of the project. Buildr wants to fill the vacuum in the construction industry to make that data worth collecting.