Proper management of cost data ensures the availability of reliable cost data which increases accuracy in providing estimates in the building construction industry. This study explores how cost data is being managed in the Tanzania building construction industry. It will investigate the current perception of cost data management as well as the adoption of technological cost data management. It aims at realising the benefits, barriers, and ways to implement technological cost data management. The research involved the use of a questionnaire survey to collect data from quantity surveyors in the Tanzania building construction industry. The study revealed that majority of the quantity surveyors in the industry were not happy with how cost data is being managed and called for improvements to be done. Technological cost data management was considered as a positive way forward. Easy access to cost data, provision of reliable cost data and fast access to cost data were revealed as the key benefits of technological cost data management while poor technology, lack of finance and lack of awareness on benefits were the key barriers.