Welcome to the Inside Eliminate Downtime newsletter - we, at Trackunit, are always searching for great reads about technology, data, IoT, software and business in the construction industry. My thirst for knowledge, and passion for the development in the construction industry has led to the birth of this newsletter. In this first issue, we will discuss; data strategy, ecosystem management, and the construction industry’s transition into digitalization. I am excited to share some great tech reads and explore the future of construction technology. Let’s get an open discussion about the future of construction and the journey of eliminating downtime. Thereby, this month's key questions to consider are:
  • How can your company utilize a defensive vs. offensive data strategy to achieve their strategic goals? 
  • How can the adoption of ecosystems change the way in which companies do business?
  • What will the future of construction technology look like, how far can technology take the industry? 


Harvard Business Review: "What's Your Data Strategy?"

Collecting data is only the beginning of how data is used. In order to create valuable data, we should share it and create partnerships that lead to new valuable information. The laws regarding data collection and sharing should, however, not be forgotten. The data strategy that a company chooses has a great impact on their business practices. A company pursuing a defensive data strategy may be wanting to minimize risk, as well as use analytics to detect fraud. They also ensure the integrity of data that is flowing through a company. On the other hand, offensive companies may be seeking a competitive market position and profitability. Many companies, however, are not merely defensive or offensive rather they use a balance of the two that fits the company’s goals. Internal communication will decide how well a data strategy is able to perform, also ensuring that data is being used effectively and efficiently, preventing valueless data silos.


BCG: "The Emerging Art of Ecosystem Management"

As we work together to eliminate downtime, there is an increasing importance in the adoption of ecosystems, and thereby the partnerships between companies. Other industries have already created valuable cross-industry partnerships that have led to advancements in their respective industries. To create effective partnerships, companies must be open minded, connected and willing to work with several different partners. The problem with the development of ecosystem management is that many companies take on the challenge alone. They either develop the ecosystem in-house, or accidentally stumble upon an ecosystem created by another company through merger or acquisition. The creation of partnerships is key in the progression of the industry and creating mutual value. 


McKinsey: "Seizing Opportunity in Today's Construction Technology Ecosystem"

This read is a follow up to one of the most cited articles of the industry, “Imagining construction’s digital future.” Within the construction technology ecosystem there are many different clusters. Possibly the most exciting clusters are the predictive asset performance, machine learning and deep learning clusters. These clusters are emerging within the industry and could foreshadow the future of technology use for construction. These clusters reflect promising opportunities, that should be on the radar for everyone in the industry. The application of these technologies could optimize processes and thereby hit target deadlines and keep expected costs relatively accurate. 

If you would like to know more about the movement to Eliminate Downtime, check out our open letter calling for increased efficiency. Through collaboration and partnerships, the industry can get closer to eliminating downtime by 2025.

Finally, if you have any great reads, please share them with me at: sbj@trackunit.com

Søren Brogaard Jensen
CCO Trackunit



Gasvaerksvej  24

DK-9000 Aalborg



Click here to unsubscribe.

Copyright @2019 Trackunit

Gasværksvej 24 • Aalborg, Nordjylland 9000 • Denmark • Click here to unsubscribe.