Business intelligence can play a very significant role in the construction industry. This is not my current field of work but one in which I was employed previously. With the help of a specific online tool, the company with which I was employed was able to issue and receive construction contracts with greater ease and less risk.
The online tool used by my company is known as Angie’s List. Angie’s List is a website that contains reviews of hundreds of service providers in any area selected for review. Services provided can range anywhere from health care, automotive or in my case, independent contracting services. Service providers do not pay to put their company on this website. A company is added when any consumer posts a review for any specific company. Consumers must pay to browse through or post reviews of their own. Monthly or yearly memberships can be purchased for a reasonable price. The fact that only paying subscribers can browse or post reviews keeps the information on the site as accurate as possible.
This is helpful in the construction industry in regards to sub-contracting. A construction company may bid on and win the rights to a certain job that they have no intentions of completing. Instead, the company will sell the contract for the job to a second company. This second, sub-contracted, company will now complete the job while the initial company still bears some risk. With the use to Angie’s list, contractors can look at reviews of other contracting companies and decide which ones to sub-contract to and which ones to avoid. Various aspects of a provider are reviewed specifically. Examples include price, quality, responsiveness, punctuality, and professionalism. Each of these aspects can be weighed differently depending on what the contracting company is interested in.
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