In the construction industry, the real-time predictive, collaborative technologies of big data are enabling market players to create more sustainable construction, make the right decisions, mitigate risks, leverage building information modeling, devise routing systems, and ensure equipment availability in the right place among various others. In a word, big data collaborative technologies are helping them achieve a visualization capability to reduce the amount of wasted time, labor, and materials on a project.
For example, a subcontractor can use data from past construction projects to make a prediction that accurately estimates how much of a specific material is required for future projects based on a number of different variables. Simply speaking, big data is now a tool for construction companies to facilitate smarter homebuilding, more efficient use of resources and people-focused construction.
How is Big Data Used Before Building Starts?
Before the foundations are even laid down, big construction companies use a vast amount of data analytics in the construction industry to:
- Inform their planning
- Decide exactly where to build in the first place
- Determine the quality of life in the neighborhood
- Pull and analyze social media posts and data to help determine how the community will be
In addition, big data also uses geological data, such as pollution levels, wind speed in order to determine whether they need to add any protective features to a building project. Design platforms such as CAD, which are popular through the big construction industry, use past data to help draw up flawless design models.
Value of Construction Industry Analysis
Big data is an enabler for construction companies to collect, analyze, and apply vast amounts of information, generated across the complex construction ecosystem. The user construction companies can help their clients manage and improve performance, help solve business problems and provide critical, informed insight for future activities. Being armed with construction industry data analytics, companies can bid more accurately, and build more efficiently.
3 Reasons Market Players Should Leverage the Power of Big Data:
#1: To Eliminate Waste
In order to reduce material waste, companies are turning to construction industry analysis tools. As a result, their project teams can access real-time information, and that enables them to utilize and deliver materials, plants, and equipment more efficiently.
#2: Maintain a Healthy and Safe Workforce
Sensor-driven data provides important insights into the productivity and efficiency of plants and equipment. Similarly, sensor-driven wearable devices can impact the improvement of workplace conditions for site personnel. These sensors can monitor environmental conditions and predict safety precautions.
#3: Lower Project Risks
Performing construction industry analysis of big data can help identify potential risks and problems. Say, by analyzing the productivity of key resources, such as equipment and labor, big data solutions can inform the project team of possible delays, overall project time and cost overruns, etc. If a business ignores negative data, the business can expose itself to unacceptable risk.
In today’s business settings, data is engine. It keeps a business going and optimizing its performance. The earlier the adoption of collaborative, predictive technologies of big data, the better. For example, construction businesses can use big data solutions to help manage their sales pipeline and forecast with absolute confidence.
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