Construction analytics is one of the most powerful ways to accelerate project planning and its management challenges. According to Deloitte, the major factors that impact the process and outcomes in the construction industry include repetitive reporting, bunches of paper documentation, lack of system connectivity and optimization, unprioritized and unorganized data, and many more.
However, the innovative technologies of construction reporting and predictive analytics in construction can significantly optimize the project planning and execution, enhance collaboration and boost the company’s performance while eliminating the project spendings and time needed for its successful delivery.
In this article, Intellectsoft explains the importance of the construction data analytics software, the major benefits these technologies can provide for your organization, and how to create the most effective construction software for analytics and reporting.
What Is Construction Analytics & Reporting Software?
Construction analytics is the process of data collecting, analysis, and management that is focused on improving the capital project outcomes, reducing risks, and uncovering critical information with the use of real-time data, taken from different resources and automated construction reports.
For construction organizations, the data analysis enables simplifying the entire construction process by interpreting and combining the financial and corporate data, project schedules and deadlines, and other essential elements, which is critical for successful construction management in general.
With the powerful construction analytics software, building companies can significantly automate the core processes in a project’s construction management, enhance the analysis of critical data, and turn it into cost-efficient, sustainable, and actionable results.
Data Analytics in Construction: Major Use Cases
There is a wide range of different options where construction reporting software is used today. First of all, real-time data access and automated reporting help building companies to improve the construction planning efficiency by simultaneously tracking dozens of different cost types (including labor, materials, equipment, and many more).
So, instead of hiring several specialists to track different financial data, you can entrust the cost analysis process to the software and access the comprehensive, accurate financial data anytime and from anywhere.
Secondly, the pre-made data analytics documentation can greatly streamline the workflow and upgrade the data work. Company’s departments and customers no longer need to request information regarding billing, payments, costs, and jobs – they can easily access data they are authorized to.
Additionally, out-of-the-box reports are too limited and can not always fit your business. For this purpose, instead of manually creating and maintaining the reports in Excel, it’s better to automate this process by using the specific construction analytics software that is designed to generate accurate and informative reportings within a few clicks.
Benefits of Construction Analytics and Reporting Software
Today, comprehensive data analytics in construction is already being used by over half of the companies within the industry.
According to Statista, over 68% of construction firms utilize software programs for project financials, and nearly 56% use the software for project management, as well as safety and risk management in construction.
And, since construction analytics software is no longer an option but a necessity, the trend for implementing innovative technologies within the industry will only increase in the future. Once we’ve uncovered the cases where data analytics in construction is used, it’s time to learn what advantages the analytics and reporting software can provide.
#1 Get the Data Needed Promptly and In Full
The successful delivery of the construction projects mainly depends on how companies control the costs and manage their performance. With the use of powerful reporting software, it becomes much easier to operate big data analytics in construction industry, as the companies can quickly receive the metrics they need in real-time.
Construction analytics software can effortlessly integrate all the aspects of a project, from cost estimation to handover, thus providing access to updated, detailed reports and data analysis at any stage.
#2 Optimize Document Management
Implementing the powerful construction reporting software can not just eliminate the paperwork but also optimizes the flow of the documentation. For instance, such technologies can ensure all the documents are correctly filed, grouped by the department, project, etc, and can be easily accessed anytime and from anywhere, and many more.
Additionally, the construction analytics technologies significantly enhance teamwork and improve project collaboration. The departments can share relevant information and data with multiple stakeholders, and supervise different aspects of project performance, including schedule and budget, project specifics and potential risks, as well as many other factors that may impact the construction project’s success.
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The construction analytics and reporting software is also a powerful tool that helps to improve the decision-making process. This means the project managers can evaluate all the risks and consider different factors, conduct detailed research and determine the best option for achieving the best final outcomes.
The advanced technologies in construction data analytics help to tackle the industry-specific nuances. For instance, one of the most common is whether it’s more profitable to use internal resources or hire a third-party company for the project’s successful completion.
WIth a full-plant management system, project managers can know exactly the labor and equipment availability, capital, and operating costs needed – essential data for launching any construction project.
Essential Features of the Construction Analytics Software
When it comes to construction reporting and analytics software, there are two basic options companies choose from: either embed the pre-made technologies and adjust the workforces to its use, or launch the custom construction software that fully corresponds to the company’s goals and needs – a powerful cost-effective solution the modern firms focus on today.
However, to get the most of the construction data analytics software, it’s essential to discover the critical functions this technology should provide.
Document Storage and Management
During the project execution, many different documents are shared between the contractor, owner, and other involved parties. To ensure none of the files have been overlooked, many construction management tools feature effective data storage and collaboration capabilities for project plans, contracts, invoices, and other documents used in the process.
Different Types of Construction Reporting
The core function of any construction reporting software is to generate different types of reports, compare the metrics performance and analyze changes. The fundamental reporting feature should include period-on-period analysis reports, consolidated profit & loss analysis, balance sheets, cash flow, profitability reports, and performance forecasts based on certain criteria.
Time-Effective Analysis
With this feature, employees can easily build refreshable reports with configurable, pre-built templates in just a few minutes, access the accurate data extracted from the ERP, drill into the balances and journals, view checks, payments, and invoices, or work with the other documents they need in the most convenient format without external help.
This enables easier one-off question tackling, as the workers no longer need to request information from other departments or customers – all these are already included in the reports.
Integration With Other Construction Software
For any features that construction analytics software doesn’t include, it’s critical to make sure the software is compatible with the other technologies you utilize, such as accounting software, legal and compliance tools, CRM systems, bidding software, and many more. This is an advanced feature that will help you to optimize the data work and enhance productivity in different project aspects your employees execute.
Historical Data Analysis for Improved Forecasting
Along with the financial and productivity aspects, an essential reporting software feature that impacts the project’s management and its outcome is predictive analytics in construction. It allows estimating a budget that covers all possible factors that could emerge in processes, including regional labor, material and inventory, costs, and others.
This technology is already being used by 29% of companies and more than 60% of respondents are going to implement it in the upcoming 24 months, according to IDC InfoBrief.
Real-Time Remote Syncing
The ability to access the required project data regardless of the time, location, and device used are one of the most important features of any cloud-based product. It assists in providing all project participants with instant updates remotely, which adds on flexibility, productivity and improves the time and quality of the work completed.
Conclusion
To sum up, implementing a powerful, feature-rich data analytics software in construction firms is not an option but a necessity. The construction reporting software helps companies to effectively plan and manage each project, consider all the factors and risks it bears, and ensure its successful on-time and on-budget delivery.
To provide the most efficiency, such technology should deliver different types of reporting, feature historical analysis, offer real-time synchronization, and integrate with other construction tools.
With years of experience in developing different software for first-class organizations in the construction field, we’re always kept in the loop of the latest tech trends and ready to empower organizations and their workforces with the most effective software solutions.
At Intellectsoft, our dedicated developers can help you to find the most profitable solution in construction software development your company can start benefiting from today.
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The hospitality industry depends a lot on keeping customers happy, but it’s getting harder to attract and keep them. The pandemic hit this industry hard, and now market competition is tougher than ever, with competitive offerings swaying customers. Hospitality businesses are willing to spend big to win customers back. The main questions for many are: how can we stay ahead of the competition, keep our customers, and increase revenue? Keep reading—we’ve got some answers.
Customers today have so many options that getting their attention is a real challenge. It’s not easy to make them choose your business over others. What worked 10 years ago doesn’t work the same way now. Back then, people often chose businesses based on reputation. But with new types of businesses (boutique hotels, craft cafes) popping up or big enterprises getting a new strategy, expectations have changed. The good news is these businesses have shown what works: great customer service. They focus on personalizing the experience, making things easy for customers, offering loyalty programs, and using smart technology.
In this article, we’ll explore these tech strategies and show you how they can help your business grow, and double the revenue. Keep reading to learn more!
The Importance of Customer Satisfaction in the Hospitality Industry
Customer satisfaction, which equals exceptional customer experience, is the backbone of the hospitality industry. It plays a central role in driving revenue and loyalty, as satisfied customers are more likely to return and recommend a hotel, restaurant, or other hospitality business to others. In fact, a study by the Harvard Business Review found that a 1% increase in customer satisfaction can lead to a 0.5% increase in revenue. Moreover, loyal customers are more likely to forgive mistakes and continue doing business with a company, even if they experience a negative encounter.
Let's quickly review the challenges the hospitality industry is facing right now so we can move on to the solutions and our case studies.
Challenges in Hospitality
As businesses navigate the changes in the hospitality industry, there are some key areas where a little improvement can go a long way. From improving customer service to embracing digital transformation and tackling labor shortages, we’ll take a closer look at today’s biggest challenges—and, more importantly, how technology can step in to help. Let’s get started!
Poor Customer Service
Even with strong and high-quality business offerings, poor customer service can drive potential customers and existing customers away. Common issues include:
Long wait times in customer service queues (it is worth remembering that our attention spans 8 seconds, and we live in a very busy world, so quick and efficient responses are more important than ever.)
Poorly trained customer service representatives
Lack of follow-up
Services not being done properly or quickly
Recall issues that require multiple service calls
These problems can frustrate customers. But, at Intellectsoft, we believe that the right approach, combined with technology, can address them effectively.
Digital Transformation Gaps
Approximately 50% of hotels are adopting new technologies, with 43% automating repetitive tasks and 39% upgrading existing systems. Source: workstaff.app
While many businesses are adopting digital solutions, some still struggle with outdated systems and fragmented data. Legacy companies often face chaos when trying to manage their data and create new systems or add features.
Some of the recent examples include clients coming to us to create AI solutions for their services while their data simply was not ready for the advanced tasks. We advise stepping back, communicating with a company objective, and working on keeping the data clean (centralized, structured, and segmented).
When we’re asked to create advanced systems using AI, we always emphasize the importance of organized data. To train AI and build such complicated systems that truly work, you need to start from the very beginning—collecting, storing, centralizing, and organizing it. We encourage our clients to align all departments to work internally on the data so we can create a unified digital system that delivers personalized experiences.
If you’re unsure where to start with your data, we can help. Collecting feedback at various touchpoints along the customer journey is crucial for gaining insights into customer satisfaction and loyalty. Book an IT consultation with us, and our experts will guide you in mapping out a path to get more from your data and build a system that works for your business and team.
Reskilling Staff
The pandemic hit hard in early 2020, especially for the hospitality and travel industries. Even five years later, many businesses are still feeling the impact. Recruiting and retaining skilled staff has become a major challenge post-pandemic.
Reskilling to address technology’s impact is of utmost importance, as about 40% of hotel General Managers place it among their top three workforce challenges.
We strongly believe that adopting the right technology can help. For example, creating an app to train your staff not only saves time but also ensures consistency in learning. AI assistants can also work alongside your team, helping with tasks like recruitment (providing industry insights, crafting emails) and staff training. Imagine having an app dedicated to making your team’s work easier and more efficient!
How Technology Tackles These Challenges and Supports a Customer-Centric Hospitality Culture
Automation, AI, and similar technologies may threaten many. However, the debate about replacing humans isn’t about that—it’s about cooperation and working hand in hand with technology to achieve the highest standards and establish brand-new “golden standards.” Technology is here to assist staff in listening to and collecting customer insights from data.
Let’s review some of our cases to see examples of how technology helps improve customer experience and supports customer service.
Examples of Intellectsoft projects
Property management systems (PMS)
We created a web platform and mobile app that makes managing daily tasks easier and offers extra services to improve residents’ experience. It gives a clear overview of daily activities and helps with managing units and users. Residents can easily book amenities, submit service requests, and report incidents. The platform also includes features for equipment management, key instructions, workflows, and custom permissions. This makes it easier for staff to stay on top of equipment and ensure residents have all the information they need. Plus, tools like announcements, quick votes, a forum, and a community calendar help build a connected and engaged community.
Guest Experience Management App
Our next app helped our client improve their guest experience by replacing printed marketing materials and the need for phone calls with a smart solution. Now, guests can easily order in-room dining, make reservations, and interact with staff— through a simple tablet in their room. The solution includes three parts: a custom in-room tablet with a variety of services, an admin panel for hotel staff and service providers, and a backend system that connects everything together. This approach makes things easier for guests and staff, improving both convenience and efficiency.
Existing Customers First: Building Loyalty with Personalized Touchpoints
Keeping existing customers is not just a strategy; it’s well-known that retaining existing customers is more cost-effective than acquiring new ones. In fact, research shows that it costs five times more to acquire a new customer than to retain an existing one. KPMG named customer retention as the number one revenue driver for the company.
Moreover, a 5% increase in customer retention can lead to a 25% to 95% increase in profits, showing the significant impact loyal customers can have on a business’s bottom line. Retention strategies, like personalized experiences and loyalty programs, can foster long-term relationships and generate recurring revenue, ultimately making them an invaluable part of any business model.
Personalization: How Technology Can Help?
Everyone loves to feel special—it’s part of being human. In hospitality, personalization has evolved from being a luxury to an essential standard. With the right technology to manage your data effectively, you can deliver those “wow” moments that guests won’t forget.
More than half of hotel chains are already using personalization features on their websites, booking platforms, and apps, and another 39% are planning to follow suit soon. They’re tailoring experiences to fit guest preferences perfectly.
Source: Deloitte
How does technology make it happen?
CRM Systems: They help you keep track of guest preferences, booking history, and special requests so you can offer services tailored just for them.
Loyalty Programs: Personalized rewards and offers show your guests that you value them, keeping them coming back for more.
AI Personalization: AI analyzes guest data to predict what they’ll love (from room upgrades to local recommendations) before they even ask.
IoT Gadgets: Smart room features like voice-activated assistants, or temperature controls adjust to your guests’ preferences, making their stay more comfortable.
With tech-powered personalization, you’re building loyalty and maximizing the lifetime value of every customer.
Our Case Study: Smart Hotel Management & Loyalty Program
For one of our clients, we created a smart room solution, complete with a custom IoT system. Guests can use a mobile app to control services, explore amenities, and find resort information-- with a special touch to their suite type. For the client’s entertainment business, we improved their legacy software by running a full IT and code check, fixing issues, and making the system better for customers.
Along with that, we developed a mobile app for the loyalty program, allowing businesses to effortlessly reward their customers and keep them engaged with exclusive benefits.
Our solutions not only helped the client with special experiences for guests; it also improved operations, cutting costs by eliminating inefficiencies. Here's what our experts shared:
"We transitioned away from ESB (Enterprise Service Bus) systems, which previously cost millions, and replaced them with more efficient, self-managed solutions. Similarly, we’ve implemented Device Farms that improved operations and saved resources."
Leveraging Software to Increase Upsell Opportunities
Here are some examples of tech tactics that will help your team sell more and introduce new offerings to existing customers, improve overall efficiency leaving your team grateful:
Dynamic Pricing Algorithms
For finance and marketing teams, manually calculating pricing by segment to introduce your clients can be incredibly challenging. AI-powered tools can strongly optimize these strategies by analyzing your database in detail.
Upselling via Apps
Boosting revenue in the hospitality business often comes down to personalized experiences. Imagine this: a guest books a room, and then your app suggests a spa package or a room upgrade at just the right moment. Later, it nudges them to book a dinner reservation or a guided tour designed to their preferences. With apps offering these personalized recommendations during and after bookings, you’re not just increasing your revenue per guest but also skyrocketing their experience. And you do it in a sustainable way, not by speculating, but by offering what your customers desire based on their previous experiences. It’s a win-win: seamless, helpful, and far from pushy.
Inventory and Resource Management Software
Making every resource count in your hospitality business is key. Inventory and resource management software allows you to effortlessly track everything from linens to room availability, ensuring nothing goes to waste. Having real-time insights to reduce overstock, avoid shortages, and optimize operations assists sustainably keep everything under control and know what you need to focus more. It helps maximize room occupancy by aligning bookings with available resources, ensuring every room and item is used effectively. This approach leads to smarter management, better guest experiences, and a noticeable boost to your bottom line.
Adopting these strategies not only optimizes your operations but also drives business growth. Ready to discover how technology can elevate your goals? We’re here to create a tailored solution for you.
Steps For Implementing a Customer Service Technology Solution
Improving customer service in hospitality doesn’t have to be a daunting task. With the right technology, you can smooth the path of your operations, speed up response times, and elevate the overall guest experience. Here’s where you can make it happen:
1. Understand Your Needs
Start by identifying the challenges your business is facing. Are you struggling to manage high volumes of inquiries, track customer feedback, or personalize the guest experience? Pinpointing your needs will guide you to the best solutions.
2. Pick the Right Tools
Choose technology that aligns with your goals. Look for solutions that are scalable, easy to use, and integrate effortlessly with your current systems. Options like CRM software, live chat tools, or a guest experience app can make a difference.
3. Equip Your Team
Technology is only as effective as the people using it. Train your staff to make the most of the new tools, so they can deliver exceptional service and resolve issues quickly. Confident, well-equipped staff creates happy, loyal customers.
4. Keep Improving
Once implemented, monitor how well the solution works. Are response times improving? Are customers more satisfied? Regular evaluations will help you fine-tune your approach and keep things running harmoniously.
Some Tech Ideas for Hospitality Businesses
CRM Software: Manage customer interactions and preferences.
Guest Experience Apps: Delight guests with personalized experiences right at their fingertips.
Amenity Management Systems: Simplify operations for everything from room service to facility bookings.
Live Chat Tools: Offer instant support and answers.
Social Media Management Tools: Keep customer interactions engaging and organized.
Integrating these strategies will not only improve your customer service but also deliver unforgettable customer satisfaction, loyalty, and, ultimately, your bottom line. Ready to take the next step? Book a consultation with our experts.
Conclusion
To wrap up everything we've discussed, customer satisfaction and experience are at the heart of hospitality. Retaining customers is more than just keeping them around—building strong, long-lasting relationships and consistently meeting their evolving needs. By understanding their pain points and offering personalized solutions, you can inspire loyalty and drive progress. With the right technology and continuous improvement, your business can stay ahead, let go of what no longer serves you, and keep growing.
At Intellectsoft, with over 17 years of experience in software development, our expert team is ready to help. We create everything from mobile apps to full-fledged portals and systems, leveraging the latest technologies like AI, Cloud, and Machine Learning. With deep experience in the hospitality industry, we’re here to craft personalized solutions that bring your business unforgettable customer experience and retain your valuable clients.
Ready to double your revenue and level up your customer retention strategy with personalized technology? Contact our experts, and we look forward to working hand in hand with you to build or revitalize the perfect app or system for you.
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