Builders are seeking out innovative ways to increase efficiency amid relentless supply chain delays and frenzied market conditions, and one solution comes in the form of a smarter and more quantified data strategy. More than ever before, builders are becoming increasingly reliant on data to inform decision making in an unpredictable post-pandemic economy, Forbes reports.
New data systems aren't just capturing and transmitting data to builders, but they're translating findings into collaborative, hands-on platforms that can help companies make valuable adjustments to their business models.
Cal Zant runs Texas homebuilding company Betenbough Homes and has a background in computer science and data analytics.
“We rely on data heavily to make decisions,” he said. “Not a lot is done by gut. There should be some element of that, but data can help you get perspective and uncover your own biases.”
His strategy has been successful. The company grew 25% from 1,600 closings in 2021 to a projected 2,000 this year. He depends on qualitative and quantitative customer research to identify trends, Monte Carlo simulations that play out a scenario a thousand times based on different certainties, and advanced data modeling.