The Big Data Advantage for Construction

The Big Data Advantage for Construction

If you haven't yet thought about how big data can improve your construction business, now is the time.

What is big data? It's a broad term used to reference both a massive volume of data aggregated from a large number of sources, and the tools used to analyze that data. It includes data you've collected on customers via sales transactions, orders, website activity, online registrations, surveys, marketing efforts and so on. It covers all the data you’ve generated while working on various projects, including building dimensions, local codes, traffic conditions, problems you’ve encountered, and so much more.

On top of all that, add in data culled from the Web and social media, and it’s mind-boggling how much information is involved—that can lead to better decisions about your construction projects. 

While other industries such as financial services and retail have made big data analysis integral parts of their business and marketing strategies, the construction industry is in the early stages of discovering just how useful big data can be.

A rise in the ubiquity of sensor technology has largely created this data boom, and it’s poised to transform the construction industry. Here are some big reasons you should take big data seriously:

  • Gain insight. Eventually, the development of cloud-based data centers will allow you to compare your business against similar-sized contractors all over the world. With little effort you will discover better ways to operate and cut costs, new trends, innovative design ideas and more.
  • Improve planning. The use of Building Information Modeling (BIM) and drones in the construction industry are helping create data that’s increasing the efficiency and productivity of construction crews. You can assess this data and put it to use whenever you begin a new project, drastically cutting planning time. In addition, historical data can tell you what worked well on previous projects so you aren’t reinventing the wheel during every design stage or repeating costly mistakes.
  • Create more accurate budget estimations. You can more easily determine how much a project is expected to cost and provide data-driven analysis to customers who question your projections.
  • Increase client satisfaction. Data analysis allows you to more fully understand how people will interact and move within a space you construct. Surveys, crowdsourced feedback, interactive mapping, security footage analysis and even social media can tell you how people will use your buildings. That informs key decisions when designing new construction or planning renovations.
  • Minimize equipment failure. Data can allow you to predict when equipment may fail, allowing you to order replacement parts and conduct other maintenance before a problem arises. In addition, machines equipped with sensors can alert you when something abnormal occurs, suggest maintenance steps, and even notify you when equipment should be replaced.
  • Optimize scheduling. Data can tell you how many people you should have on at any given time, as well as pinpoint ideal times during the day to schedule workers. For example, during early phases of a project, you may not need all hands on deck.
  • Improve worksite traffic. When you are building in tight or busy areas—such as in the middle of a major city, traffic conditions coupled with a lack of parking can make executing a project a nightmare. Adding sensors to work vehicles to track travel times, and tapping into local traffic information allows you to better plan deliveries, travel routes and more, cutting wait times and gas expenses.
  • Find money wasters. GPS devices can inform you of drivers’ routes and idle times so you know if they are using company resources appropriately. Additionally, you can analyze data to discover materials your crew wasted, when you were over or understaffed, and penalized or fined because of code violations that eat up the bottom line.
  • Make collaboration possible. The stakeholders involved with your project could be widely dispersed. However, being able to share real-time data, including models, contracts, supply lists and more makes it easier for everyone to collaborate—and keeps a project moving along smoothly.
  • Analyze and predict risks. Unexpected problems can always delay a project, costing time and money. However, by analyzing data, you can predict possible problems and create contingency plans that allow you to move things along despite setbacks.

Big data analysis can aid you in everything from designing a project to troubleshooting issues as they come up during a build. Don’t overlook this powerful way to increase your efficiency, boost productivity and save money.

Jaimy Ford is a professional business writer with nearly a decade's worth of experience developing newsletters, blogs, e-letters, training tools and webinars for business professionals. She contributes to both The Intuit Small Business Blog and Docstoc.com. She also serves as editor-in-chief of Sales Mastery, a digital magazine written specifically for sales professionals.

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