The necessity and potential of reporting in the construction sector

As in other industries, it is more important than ever to collect, analyze and report data in the construction industry. Construction companies need to quickly gain insight into organisational performance and continuously optimise their processes to remain successful and competitive in the industry. Having a targeted performance reporting provides insight into the performance of the project and helps to make informed decisions.

However, reporting data can be problematic when done manually. It is often time-consuming and carries risks of human error. Traditional reporting methods are labour-intensive and time-consuming, often involving paper documents and Excel spreadsheets that are filled out manually. This is where Microsoft Power BI, among others, can play an important role. Microsoft Power BI is a business intelligence tool that collects and visualises data in a structured way in interactive dashboards. By using Microsoft Power BI, construction companies can quickly gain insights into the performance of their projects, their cash position, and therefore substantiate decisions with reliable data.

One of the biggest advantages of Microsoft Power BI is that it can lead to the implementation of "one version of the truth" in an organisation. This means that there is a single, reliable source of data that is used by all stakeholders of the organisation. Microsoft Power BI can collect data from a variety of data sources, including ERP systems, time tracking systems, project management software, and other supporting spreadsheets. This makes it possible to efficiently collect data across various departments, including procurement, planning, finance, and project management.

A second benefit of Microsoft Power BI is the ability to analyse and visualise data in a way that is easy to understand. Dashboards can be customized to meet the needs of the organisation and can be shared with stakeholders such as project managers and other employees. These visualisations can also be customised to meet the specific needs of the organisation to gain a better understanding of the project's performance.

By being able to access and refresh critical data in real-time, users have access to the most up-to-date information. This means that construction companies can react as quickly as possible to changes in the project and adapt them as quickly as possible to avoid unforeseen costs and delays. In the end, the company as a whole will perform better.

If you have any questions about the set-up of reporting in Microsoft Power BI, please feel free to contact us.