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Like many other industries, the construction business was heavily affected by the recent technological changes. Despite being a somewhat conservative field, companies are slowly starting to implement modern software to improve their workflows.

Data analytics, in particular, helped us improve the profitability of our projects. With this type of software, we’re able to go through numerous data points and extrapolate valuable insights for our decision-making process. 

Advanced software works on every level of the project. We use it during planning, operations, and monitoring. Furthermore, data analytics software helps just about every department, from finance to logistics and workers in the field. 

Using Data Analytics in Construction 

Introducing analytical software into construction decision-making consists of four main steps. First, we start with data collection. This gives us the necessary base for later processing. Once we have enough data points, we can turn this raw data into actionable information.

The next step is using all this information to make better decisions. Companies can avoid guesswork by focusing on cold, hard facts. The last step of data analytics implementation is utilizing all this information in daily activities. 

Data Gathering

The first step of the process is also the most important one. If we start collecting raw data from a bad source, or if we duplicate data in our database, we’ll have a lot of trouble getting prompt, accurate information. 

Companies can accrue data from various sources. During the gathering process, you’ll take a look at your schedules, budgets, project plans, tracking devices, building information models, construction time tracking software, and so on. Your main task is to utilize as many relevant sources as possible so you can get a clearer picture of your project. 

Data Analysis

The next step is data analysis, which allows us to generate relevant insights for our decision-making. Today, you can analyze the available information by using all sorts of specialized analytics tools for construction or business in general.

Machine learning has become particularly potent in analyzing large data sets. These programs also rely on advanced predictive modeling and intricate data visualization techniques to better process, interpret, and present final information. 

Decision-Making

During this step, we take the data we’ve previously collected and start processing it. Our main goal is to get as many relevant, accurate insights for our business that will help us improve planning, resource allocation, and risk management. 

Ultimately, by relying on data from several sources, we’ll be able to assess our performance with more accuracy. With the integrated approach, we’re able to create a solid framework for strategic project management. The data analytics workflow provides unparalleled flexibility, allowing us to adapt to every unpredictability. 

Implementation 

Lastly, once we make the decision on how to proceed, we’ll take actionable steps in the field. By sticking to everything agreed upon during the initial planning phase, we’ll be able to make proper tweaks if and when needed. Management should monitor the situation in the field to ensure that the team is sticking to the deadline.

Benefits of Using Construction Data Analytics 

A single error can cost a construction business thousands upon thousands of dollars. Not only do the errors delay your delivery times, but they also affect user satisfaction. Every mistake you make will lead to major overruns as well as wasted resources and human labor.

We use data analytics as a type of guardrail, preventing us from doing something we shouldn’t. Through the use of advanced data programs, we’re able to identify risks and issues during the initial planning phase. This will improve our execution, leading to enormous cost savings. 

Risk Management

Machine learning algorithms are vital for modern construction project management. By tapping into billions of data points from various sources, ML and AI software are able to identify risks and bottlenecks. These tools are especially great at noticing patterns and trends.

Whether we’re talking about logistics errors, harsh weather, resource and part delays, software can predict with high accuracy whether some of these things are going to befall us. The construction tools are able to go through numerous scenarios and show us the percentage likelihood of something bad occurring. 

Project Efficiency

By tracking employees in the field, material deployment, and other construction yard trends, companies are able to identify potential bottlenecks. Once you gather all this data, you can easily predict how much time you’ll need to finish the current project, but also your future projects.

Through the use of ML software, you’re able to optimize resource usage. The programs allow you to create an effective construction workflow based on facts. Most importantly, data analytics helps you make improvements over time and enhance decision-making on all levels of the company.

Construction Site Safety

The software will take a look at all previous accidents on similar projects. It also takes into account the country’s construction site accident percentage, current safety standard, and your company’s past safety trends. After analyzing all these data points, the software is able to calculate the likelihood of something bad happening.

After receiving this data, your managers can take steps to eliminate these issues. For example, they can buy better safety clothes or introduce first aid training. Not only does this practice safeguard workers in the field, but it also shows that your company cares.

Resource Allocation

Resource allocation has to be one of the most important aspects of a construction project. As a manager, your task is to secure a constant inflow of materials and equipment to the construction yard, without stalling or endangering the material.

For example, you should send as many products as you’d need, but without having them sit in the rain. With data analytics, you can better assess how much material you’ll need in the forthcoming period. That way, you won’t have to overstock and lock money into products you don’t need. 

Last Thoughts 

Construction business owners have started leveraging data analytics to improve their daily operational results. With this software, you’re able to predict your future needs while eliminating the most common risks involved with construction projects.