When it comes to any sort of nonresidential construction activity, there is a leading monthly economic indicator under the name of Architecture Billings Index or ABI. It’s lead time is approximately 9-12 months, depending on conditions and project duration and it was derived from a survey called Work on the Boards held by AIA.
The purpose of that survey was to gather all available data on any shifts and changes in billings from all sorts of architectural company leaders during the period of at least 20 years. The gathered data results provided a tool of trust for construction and design industry that used that tool to track and predict all movements in the world markets across the globe.
That tool became a standard tool in the architecture industry for market analysis and acquiring the necessary and valuable market intelligence. Such intelligence was extremely precious and useful to countless international investment groups of all types and sizes as well as major media. That same intelligence provided all of them with the necessary indicators that were important for assessing business conditions of the world markets.
Gain leverage on the markets
If you as a company want to participate in any architectural endeavors on the world markets, you need to keep up with the latest standards all the time. To keep up, you need to use all available data in order to properly find and target only those business opportunities that directly complement your business strategy.
In order to do that and stay relevant in the order of things, you need to keep track of local business conditions and economy and also make comparisons of your company to all others that are representing competition. That is where ABI can help you because it will allow you to develop a good and firm strategic planning that will determine your business cycle shifts. In this rapidly changing economy timing is everything and ABI will help you to seek leads, manage your RFPs, prepare yourself for any market movements and manage budgets.
You need to be prepared for any changes, fluctuations in the markets and watch out for the latest trends in stockholder guidance and resource planning if you are looking for a way to expand. Therefore, using Architecture Billings Index will help you to better integrate all that data into your own way of doing business in order to get the best results.