Whether you’re talking about technology, systems, hiring or even building materials, the answer is the same: The construction industry is ripe for innovation. As our computers and phones have gotten more and more sophisticated, our buildings haven’t always kept up. However, this won’t be the case for much longer! As we celebrate International Women’s Day and Women in Construction Week, we spoke with three women at McKinstry who are on the front lines of innovation in the built environment:
What is “Total Cost of Ownership,” and why does it matter?
“Blueprints” is a new Spark series exploring McKinstry’s core business philosophies from our leaders’ perspective. This is the first story in the series, from McKinstry’s CEO: Dean Allen.
Whether you’re shopping for a car or building a skyscraper, your goal is the same: making decisions that maximize value and minimize cost over the long-term.
Constructing a multi-story building is obviously a bit more complex than buying a minivan, but the principle remains the same in both cases: educated decision-makers with comprehensive information in hand will make superior choices.
When it comes to being fully informed, there’s no better strategy than conducting a Total Cost of Ownership (TCO) analysis. TCO may sound like an intimidating and technical concept, but it’s much like the process of buying a car.
Why (and how) the construction industry needs to embrace big data
Photo by Torkild Retvedt, via Flickr.
While building systems and technologies are capitalizing on opportunities to take advantage of the current technological revolution, the construction industry mainly continues to lag behind more advanced, innovative approaches used by other industries to leverage the most out of big data resources.