The amount of data is growing at an unprecedented rate but at the same time, many companies are struggling to turn that data into valuable insights. And while there are many tools and platforms available to help make the data more accessible, the key challenge for those in the construction industry is determining how to leverage various data sources in an insightful and actionable way.
Even the smallest of construction firms can benefit from using analytics to dive into their data sets for further insights. Specifically, data from sensors, drones, emails, design plans, and weather data can be impactful.
When it comes to individual and team performance, data can be a significant productivity driver. Armed with data from the previous project, your GC management team can target areas for improvement. Consider this scenario and use case: using sensors (capturing readings on stress, temperature, humidity, and other factors) firms can track equipment and material movement to identify weaknesses in the construction site environment.
Consider worksite drones that can quickly gather millions of pieces of data, greatly reducing the labor and time involved in producing accurate surveys while eliminating much of the human error involved in the process.
Construction profits are hard to predict. So, analyzing your site data (labor, materials and equipment utilization) is key. Data from daily reports and field notes demonstrate the progress of work compared to the schedule and use the purchase orders and payroll information to better understand where estimates went wrong or why they were correct.
Predict and Mitigate Risk
Construction firms and contractors alike want to reduce risk and make projects less complex and more predictable. Insights from the right data can help. Visibility into field-level data through a tool like Rhumbix mitigates risk and exposure. For example, lost T&M tickets cost subcontractors substantial sums, with a digital T&M Tracking platform you’ll never lose a tag again.
Improve Client Satisfaction
Word of mouth remains the number one method most construction companies use to market their business and earn more work, so understanding your customers is critical. Mining the data helps you identify their preferences (concrete designs vs. wood flooring), validate trends (experience-driven spaces) and direct where you invest (prefabrication, modularization).
We know that the construction industry is ready to fully realize the benefits of digitization. With Rhumbix’s industry-leading productivity platform, we help you leverage your field data along with all aspects of project and building information modeling data. This gives you the foundation for unprecedented levels of insight into project performance and cost controls.