By Nathan | Posted on
As the construction industry incorporates modern technology more and more into its daily business, one of the high-tech tools it is becoming more and more reliant on is big data analytics. The term refers to the process of analyzing huge amounts of data very rapidly. The end results benefit firms within the industry by interpreting industry trends, showing where and what types of jobs are coming up, and making useful predictions about workforce availability. But like any technology, if it's not used correctly, it's not of much use at all. So what are some ways big data is being used effectively within the industry?
ReportsReports of various types take up a fair amount of time in any project manager's day, and in the past, waits for other employees to add or respond to these reports just slowed things down even more. Now software like Raken for daily reporting not only allow managers to save an hour or more in report writing, those reports can quickly be transmitted to other offices for review and response in real time.
Risk ManagementThe best way to manage risk is to predict issues that may arise that could affect work, and work around these. This could range from pending government legislation to infrastructure construction to supply problems in other countries. Big data now makes it possible to quickly gather, sort out and refine the risk management in construction in a way that it can easily be interpreted and used by the construction industry. The end result? Less delays in work, and assurances of adequate material supply by dealing with problems before they happen.
Problem SolvingLiberty Building Forensics Group is a company that uses big data to assist construction firms in trouble when flaws show up in project designs or during actual construction. Able to move through analysis and solutions much more quickly than having humans pore through blueprints or trudge through buildings, LBFG not only can get clients up and running again much more quickly, the data from this forensic work can be stored digitally and used as a reference for future projects.
As great as big data in construction can be, there's still room for improvement, and it is not yet an all purpose "cure-all" for all construction issues. Still, advances for big data analytics in the construction industry are continuous, and industry experts predict that big data growth in construction will only grow with time.