Do you know how much value lies in construction data? Collecting and analyzing data from projects is essential for evaluating performance, understanding trends and adjusting protocol on future projects for efficiency.
A study done by the FMI showed that 95% of all data captured goes unused in the Construction and Engineering Industry. This represents a wasted opportunity to optimize construction projects.
Let’s look at how construction companies can manage their data and use it to supercharge their projects. Leveraging data results in faster projects with fewer mistakes, and increases the chances of finishing on time and on budget.
How To Harness Data Effectively In The Construction Industry
To use data, there needs to be a system for capturing, storing, and organizing data. Here are the steps to maximize the impact of construction data:
- Collect: Construction companies need to have efficient data capture techniques. Digital collection methods, such as mobile technology and construction software, are best as they help collect data in one system.
- Organize: The most important step is to have a system for organizing large amounts of data. We recommend a common data environment (CDE), to collect all construction project data in one place. It’s also best to store data on the cloud for real-time updates, larger storage, easy accessibility, and cross-device synchronization.
- Analyze: Once the data is organized, we can start to gain insights from it. While some patterns can be picked up just from looking at the data, it is worth investing in more advanced analytics.
Using artificial intelligence to analyze data reduces the risk of human error and allows for more accurate and efficient data analysis. This gives better predictions and reduces errors and miscalculations.
- Measure: Quantitative data is crucial to data-driven decision-making. By evaluating and quantifying the success of projects, contractors can derive actionable insights and track the success of specific decisions and strategies over time. This data can be used to make better decisions next time, saving time, money, and energy.
- Review: This is the most important step when it comes to leveraging construction data. Contractors need to go back and understand what worked and what didn’t. Carefully documenting changes and strategies helps construction teams to continually optimize projects.
5 Ways To Utilize Construction Data For Better Projects
Now that you understand how construction teams like Chad Fisher Construction harness data, how can we put it to use?
1. Identify Issues In the Design Phase
One of the core principles of BIMis that it centralizes all of your data into one 3D model, which allows you to pick up on issues far earlier. The more data you use to construct this model, the more robust it will be.
Robust BIM makes it far easier to pick up issues and potential problems before any construction work takes place. Identifying issues in the planning phase prevents costly stoppages and rework.
Harnessing historical and environmental data allows us to make better predictions. And by keeping a record of past projects, we know exactly what to look out for when preventing issues.
2. Make More Precise Estimates
By using data from previous projects as well as other environmental and historical data, it becomes far easier to create precise estimates. It’s easier to check if there was any shortfall or excess material in a previous similar project and adjust the estimates accordingly.
This also allows the project to be more environmentally friendly by reducing construction waste. While construction waste can be recycled, avoiding waste is a better solution for the environment and your bottom line.
3. Boost Communication And Collaboration
Because the data is centralized, it is easier for stakeholders to avoid miscommunication and work collaboratively. With project updates syncing on the cloud, everyone can see what is happening and what needs to be done.
This unification is the same logic behind the Integrated Project Delivery (IPD) method. IPD is a method that brings all stakeholders together to form a single team. It is only made possible by centralization of data so that all parties can work together seamlessly.
4. Stay On Budget
If you are constantly syncing and collecting data, it’s easier to see what budget adjustments you will have to make. As a result, you can be more prepared instead of blindsided.
This data, coupled with the more precise estimates, makes it easier to adjust the budget rather than overspend and only realize later.
5. Use Prefabrication And Modular Construction
By using data effectively, contractors can make accurate predictions and streamline the construction process.
One way to do this is to use prefab or modular construction where components are created and assembled off-site and then transported to the building site to be installed. Modular construction can cut costs while also reducing safety risks such as falls.
This is a great technique for buildings with multiple of the same components, like medical facilities. But modular construction only works when you have exact specifications for what you need, which requires a robust database.
Conclusion
Now that you have a better idea of the value of construction data, you see the value of working with a contractor who knows how to harness and leverage your data.
Here at Chad Fisher Construction, we use the latest technology to optimize every project. No data will go to waste, and you’ll benefit from our years of experience and accumulated construction data. Contact us today for a partner in data-driven commercial construction.