The value of digital investment
Why should companies be investing in digital?
What are the risks and benefits of digital investment? How can the value of digital investment be defined? How can data be used to drive better business outcomes?Digital resources
Digital technology and software adoption are happening in almost every industry, including construction. Businesses are – or should be! – constantly looking for ways to become more productive and stay ahead.
The construction industry lags far behind other sectors in terms of digitisation. But as construction projects are usually high-value and highly complex projects the potential benefits are potentially huge. Some studies suggest that there is the potential to improve productivity by between 50-60%.
Digital is not just about data.
Whilst there are undoubtedly opportunities to boost productivity growth from digitisation, especially in construction after years of stagnation, it cannot be denied that there are adoption barriers, quite apart from just the transition costs.
Digital is not just simply about productivity statistics. Nevertheless, there is plenty of evidence to suggest digital innovation can boost productivity significantly, as we’ve seen.
“Everything will be digital. Every process that in our world can be done by a computer will be done by a computer.”Stefan Larsson, CEO of BIMObject