3 Reasons Why Big Data is Important in Construction

The use of big data can enhance your ability to successfully run your business.

By Trent Cotney.

The construction industry has not implemented advancements in technology. Implementing technology by using data has been used across all industries. The construction industry has used data for enhancing decision making and reducing risk. Big data can aid contractors in successfully running their business.

Big data is large amounts of information that is gathered from many different sources (like sensors, machines, computers) that can reveal trends and patterns. With this information, big data can aid decision makers in: (1) construction area logistics, (2) project budgeting, (3) and tracking equipment conditions.

1. Construction sites need coordination to prevent delays. Big data gathered through sensors on machines, project schedules, and traffic data can help construction companies create routing systems that ensures equipment is delivered where it needs to be, when it needs to be there. With the use of data from previous projects, the delivery of heavy equipment from location to location can better be determined. Implementing this data allows for more efficient project schedules.

2. Data about material pricing and availability of materials, workers, and equipment can determine the best allocation of funds. This project data can be measured against project payments to calculate profitability of projects.

3. Contractors can gain valuable information from equipment sensors. Sensors can measure the condition of equipment and determine when service is necessary. Big data can notify contractors if a new piece is needed before the old one breaks down.

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Disclaimer: The information contained in this article is for general educational information only. This information does not constitute legal advice, is not intended to constitute legal advice, nor should it be relied upon as legal advice for your specific factual pattern or situation.