The potential of digitalisation in the construction industry is far from exhausted and offers countless opportunities. Smart technologies increase the efficiency and quality of work processes and data and create transparency within the entire value chain. This also applies to the analysis and collection of building applications: In Switzerland, building applications are published in official gazettes and published weekly. This is of particular interest to craft enterprises in order to obtain new potential orders. Until now, these have been collected and structured manually in order to provide a clean and efficient data basis for players in the construction industry. However, the manual processing has high costs and a time delay. Due to the Covid 19 pandemic, many shops were closed for almost two months in spring. According to the State Secretariat for Economic Affairs (SECO), the lockdown caused consumption to slump by more than 20%. How quickly did consumer sentiment recover after the lockdown? Did consumers catch up on unmade purchases or did a sustained decline in consumption occur? We have been investigating these questions with our partners from the Universities of St. Gallen and Lausanne as well as SIX, SPS Worldline and the Swiss Payments Association as part of the “Monitoring Consumption Switzerland” project. Our dashboards provide in-depth insights into the consumption behaviour of the Swiss population in recent months and allow for an interactive analysis of the data.
The project demonstrates the importance of real-time data. In recent months, it has once again become clear that real-time data is indispensable as a basis for decision-making by political and economic actors: They enable regional economic and demographic developments to be recognised early on and appropriate measures to be taken. Real-time data are thus in contrast to the often delayed data of the Federal Statistical Office and regional statistical offices, which are insufficient as a basis for decision-making in dynamic contexts (such as a pandemic).
Link to the dashboard: https://public.tableau.com/profile/monitoringconsumptionswitzerland#!/
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