NextGen Day

The Philippines is leading among Southeast Asian nations in plans to use data strategy in the construction industry, according to research by Procore Technologies Inc., a top global provider of construction management software.

In a statement released on Tuesday, the company said that over the next 12 months, 80 percent of construction companies in the Philippines want to build and implement a data strategy, exceeding both the regional average of 77 percent and that of Malaysia and Singapore, all of which stands at 76 percent.

Construction industry experts are eager to use technology and harness data to manage costs, work more efficiently, increase build quality, and take on more projects.

Only 6 percent of the surveyed enterprises in the region “have laid the foundation for a data strategy, while 52 percent are somewhat confident that they can utilize data in their operations within a year” despite a high awareness of the benefits of using data strategy and a strong interest in adopting it in their construction business.

“It is clear from our research that while construction professionals in the region have a strong understanding of how data and analytical insights can help drive better business outcomes and protect their businesses, many struggle with developing clear data strategies,” said Tom Karemacher, the head of Procore’s Asia Pacific region.

Kin Weng Tan, head of sales for Asia at Procore, stated during a hybrid press conference in Makati City that construction businesses are cautious about integrating data into operations because they want to clearly understand the return on investments of implementing data strategy.

“Software vendors will need to unequivocally show the ROI to support the necessity of construction technology and data management. This will encourage the use of cutting-edge building solutions that unleash incomparable value for the sector, said Karemacher.

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