In this week’s analyst call, Tyler Sewall, Director of Technology Adoption here at BuiltWorlds, led a conversation on the subject of Business Intelligence alongside Oded Ran, CEO and Co-Founder of Clue, and Thiago da Costa, CEO and Co-Founder of Toric. To begin, Tyler provided a quick overview of BuiltWorlds’ benchmarking survey program. Specifically, Tyler discussed the adoption and satisfaction of business intelligence (BI) solutions within the Project Management and Oversight category. To summarize, larger contractors are more broadly adopting BI solutions, but the ROI is not currently as effective as they should be.. This insight, among others, led to the conversation of exploring how companies, like Clue and Toric, are leveraging these massive data sets the industry possesses to produce actionable insights.
As the conversation progressed, Oded and Thiago discussed why BI solutions, like Toric and Clue, are critical. As Oded indicated, data is messy, and cleaning it effectively requires a lot of time and attention to detail. Instead of needing to outsource and hire talent, BI solutions allow companies to better utilize their existing staff and equipment to manage risk and increase margins.
Likewise, Thiago echoed much of the same, adding that each company is at a different point in their data journey. Toric’s competitive advantage lives in their no-code approach to BI. Additionally, one key aspect Thiago touched is gaining the trust of the end-users. As with all things, without the trust of the end-user, how valuable can any one solution be? As the industry continues to gain trust and see the long-term value of BI solutions, this type of technology will continue to gain widespread adoption across the AEC space.