We are working on a digital ecosystem that brings value to other operators in the industry and even our competitors.
Mobile developers and digital service providers, with new services targeted both for business and consumer markets, will be able to access the construction market and be the key players in the digital construction transformation.
Our applications focus on construction execution, enhanced with machine learning techniques and big data processing.
You might feel that Digital Construction has become only a buzzword but actually a lot of amazing things are happening.
Just taking the Digital Construction Week event in London as an example:
Construction work and execution are areas full of opportunities to generate value that are still completely unexplored.
A big gap in the current development on digital construction is about actual construction execution. All operators in the industry know that the construction execution can become a value black-hole. The opportunities envisioned during the design are often dramatically downsized by the practicalities of the implementation.
Understanding and optimising the construction execution are crucial:
Cost estimation accuracy, risk management reliability, budget management and project execution efficiency generate value from the construction execution.
Any data related to construction, projects, costs, planning, property prices and more contribute to build a big set of data to learn from.
All data can be used to identify patterns and support decision making. A lot is already publicly available but not in an API-ready format, that is not directly consumable by software and applications; even more can be collected:
All those data and more can be used to identify trend patterns and implement machine learning mechanisms to support and optimise the construction execution. Plus, data can be aggregated to extract value in new ways, opening the market to new operators.
New business models are available, opening the market to mobile developers, web service providers, tech communities and more.
With open API’s accessible by private and public companies and independent software developers, the potential to build original business models on the ecosystem is infinite.
houseUP vertical applications are focused on construction in all its aspects, but there are endless business cases to be exploited.
Using trend patterns pulled from the platform, new business opportunities open up, for example:
According to a report by McKinsey & Company, agriculture and hunting are the only sectors with a lower digitalisation index than the construction industry.
Opportunities are endless and many companies currently offer digital solutions for the industry and new developments happen every day.
Even Blockchain technology is seen by some as a way to secure the workflow and assign accountability to architects, engineers and other roles involved in the design.
The construction execution is now the weakest link in the construction value chain. The high risk related to execution undermines investors’ confidence and often construction companies are forced to take on most of the risk related to the execution.
There is huge value to extract from the execution phase:
Mobile developers and software houses, with new services targeted both for business and consumer markets, are the key factors in the digital revolution, as they have been in the past in other markets.
Banking, travel, hospitality, retail shopping: open digital enablers turned those markets upside down, changing our life forever. It will happen for construction and build environment, with great opportunities for many.
Get in touch with us and share your experience.
Gen is managing director and chief of digital strategy in houseUP, leading the company's business strategy. She comes from the tech start-up industry as a product and marketing chief officer