One of the hazards of the commercial construction industry is that it is a fragmented, localized industry. In most cases participants are local or at best regional firms to whom the concept of organized competitive intelligence does not come naturally. Folks feel that they know who their competitors are and what those competitors are up to.
Over time we have become aware that the consistent gathering of data on construction projects, a process in which we have been engaged in for over 35 years now, allows us to construct a database and subsets of that database that allows for much more informed and precise knowledge of what is actually going on in a market among specific competitors.
This kind of data is not some high-altitude formula driven concept replete with pretty maps and charts. It’s very much nitty-gritty stuff with specific project and bidding information gathered project by project, firm by firm. But, aggregated together, it can give some very useful insights to companies that know how to use it.
For example, a company may think it consistently loses bids to a competitor and, while that may be true, the gathering of competitive intelligence can reveal bidding patterns and pricing strategies that are enabling that competitor to consistently win business. Armed with that knowledge, the company can react more intelligently.
Competitive intelligence products can be extremely expensive. Major data firms like Oracle and SAP have sophisticated systems that they license for hundreds of thousands of dollars. Our industry can neither support price tags like that nor, frankly, do we have to pore through such massive amounts of data to find what we want to know.
Here at CDCNews we have created the industry’s first appropriately-sized and easy to use competitive intelligence product, Commercial Construction Market Intelligence™. We launched it late last year in a test mode and are now making it fully available to all our customers. To take a look, simply call us at 772-770-6003 and ask for Chris Esposito, our product specialist.
Hopefully, like our other products and services, it will give you an inside advantage and help you grow your business.
Bill Black, President