Industry intelligence helps construction firm target key sectors
IBISWorld provides a foundation for Skanska to identify the most profitable growth areas.
Skanska Strategic Markets Team
CLIENT OVERVIEW
Skanska, established in 1887, is one of the world’s leading project development and construction groups. The company’s £1.7 billion UK operation is one of the country’s top construction and development companies.
Known for working on major projects, such as the Gherkin, the M25 and Crossrail, Skanska is committed to building, upgrading and maintaining the country’s buildings and infrastructure for future generations.
THE CHALLENGE
Identifying key sectors
To advance their business strategy, Skanska recognised the need to formulate updated sector terminology and map the target sectors for their UK business.
The Strategic Markets team at Skanska initially consulted IBISWorld in search of industry best practice around defining particular sectors.
IBISWORLD SOLUTIONS
Best practices in sector identification and targeting
As more than just a provider of trusted, value-added industry research, IBISWorld strives to help all organisations make better business decisions.
Our goal was to help Skanska craft well-informed sector terminology appropriate for its business mix, in turn helping the company move one step closer to solving a key business issue. We worked with Skanska to gain a comprehensive understanding of Skanska’s bespoke business needs and current thinking, to ensure we were diligent in our response.
Calling on our in-house analyst expertise, IBISWorld provided Skanska with:
Our interpretation of sector terminology, in accordance with what industry recognises as official
benchmarks.
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A complete mapping of the sectors in which Skanska has an interest, complemented with our view of
specific areas where Skanska’s customers would fit.
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A collection of pertinent industry reports which provided Skanska with market data and analytical
insight relevant to its core service offering.
Applying in-depth data and personalised service
IBISWorld provided impartial and evidence-based insight which enabled Skanska to address a key business problem head on. The team were pleased with the in-depth analysis from our analysts around detailed sectors of interest, which allowed Skanska to determine the most applicable sector classifications for their business.
The team noted that the information enabled them to better understand and analyse the sectors for which they deliver work in a consistent and structured way, providing a foundation for the business to identify the most profitable growth areas.
Ultimately, Skanska was able to incorporate IBISWorld’s interpretation of sectors and markets into the current thinking of the UK business. IBISWorld provided a vital stepping stone to help Skanska start building a strategy and perform analysis around markets in which they want to operate and grow.
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Products used by Skanska
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