Using Data to Set Your Facility Apart From the Competition
Traditional construction companies rely heavily upon historical cost, schedule, and material databases to estimate project budgets and timelines. However, this data only offers fragmented insights throughout the nuanced sports facility construction process. It is in the understanding of peer facilities from a design and construction lens that is compelling—their successes, failures, opportunities, and deficiencies. This can be the differentiator that sets a facility apart from the competition.
Data Every Step of the Way
During Programming
By leveraging market data and construction insights, stakeholders can make sound business decisions that optimize a facility’s programming and positively impact ROI. Data encompassing socioeconomic features, consumer behavior, financing and even weather provide valuable benchmarking and project planning insights.
During Design
Decisions made within square footage have real business and cost implications. There are different ways to produce a facility to showcase a sports product, and by leveraging facility intelligence that analyzes how square footage is used in combination with robust cost estimating, stakeholders can make astute decisions for the league, community and business.
During Construction
Early recognition of cost savings and efficiencies identified across the most expensive scopes of construction work can allow teams to be more opportunistic in scope and budget planning. Efforts can result in a more efficient venue (with reduced construction costs) while still maintaining core elements important to project stakeholders.
Digging into the Analytics
Learn more about our data analysis efforts in action in our recent articles.
Using Data Analysis to Drive Smarter Facility Construction
The uncertainty of today’s post-pandemic environment makes data-driven decisions more important than ever. Franchise and venue owners must leverage multifaceted industry data to ensure long-term project success. Guidance in the form of sound estimating, objective problem solving, and ROI-focused insights will contribute to strong capital investments.
Leveraging Data Analysis to Connect Venue and Business Goals
Understanding the relationship between a sports organization's business model, the facility's programmatic capabilities, and the costs to construct those spaces is crucial in achieving a competitive sports venue. Our data analysis offers new insights into the sports facility construction process resulting in efficient construction, enhanced revenue streams, and better margins.
The Future of Data Analysis
From feasibility studies to pro formas to cost models, there’s no shortage of data to help guide the sports facility development process. While this information provides snapshots of a prospective sports venue, it often remains narrowed in scope. Mortenson’s contemporary approach to data analysis includes a supplemental layer of market data that bridges the gap between feasibility consultants, design firms, and construction partners, connecting the “data dots” to provide a more accurate glimpse into a facility’s projected performance and return on cost.
The Benefits of Sports Facility Data Analysis
Ensure timely and smart decision-making, resulting in enhanced revenue streams and better return on investment.
Optimize construction at the earliest stages of the planning journey, avoiding waste and enhancing efficiencies.
Achieve deeper visibility into the overall success of a prospective facility’s program, make more informed decisions and maximize the return on capital investments.
Drive early alignment and confidence among project stakeholders.
Interested in learning more about our data analysis efforts?
Our continued advancement and application of a data-centric approach has cultivated a new perspective in sports construction management that will impact sports venues for years to come. Contact us to learn more about our data analysis program.