One of the largest and time-consuming businesses around the world is construction, and like every other business, time and money saving steps are most welcomed in the construction industry. The amount of time and effort that is required to manage a flawless construction project is beyond imagination. Starting from workers to logistics the whole process can be a nightmare if one step is placed carelessly. A single platform to ease of all the difficulties faced by the industry; Data management platform (DMP).
Most of the big industries around the globe have started to leverage the data to make accurate predictions that will help in boosting sales and expand their operations. But still, construction industries haven’t decided about adopting the data based performance. The construction sector is looking for different ways to enhance their existing system of operation by including various forms of analytics. A system to predict future opportunities, manage finance and provide better project estimates.
Constructed by dJAX DMPmanager
Before jumping into the real-time benefits provided by DMPmanager, a clear stat is presented on how the DMPmanager assisted in enhancing the operational and revenue related issues of a construction organization. The basic issue of every construction company before any process is laying out the estimate for the project and for a particular giant in the industry DMP manager assisted in reaching the most accurate estimates, with less than 1.7% error the estimates provided were not so apart from practical cost. The productivity of the organization increased by 19% within a short span of time that resulted in a 31% increase in their revenue for a single project. With accurate data provided from the DMP, the organization can allocate its resource and time to other processes which can improve the efficiency of the entire operation. Overall revenue and efficiency of the organsiation increased 17% after the implementation of DMP manger which is a huge margin for any industry in the construction field. The changes can be clearly seen with the estimate prediction, productivity, and purchase orders. Based on the precious data the changes implemented have proven to be very effective in a highly competative construction environment.
Track and manage projects
Information related to climate, business activity, and traffic plays a vital role in planning for construction activities. Also to make the machines involved more efficient, sensors are placed to show active and idle time that can be processed to draw better conclusions about the use of the equipment. It helps in determining the vital resource in the entire operation. With the Geolocation data, it will be much easier to improve logistics. It also plays an imperative part in the transportation of the equipment when and if needed.
Data proponents state that data obtained from the platform helps in providing reliable information that is easy to understand, this also helps in formulation the status of each team involved in the process. With regular data updates, the decision-making capacity of the organisation will be elevated to a different level and evaluation of the projects will be done on a more regular basis. All the factors including temperature, humidity and stress can be analysed with accurate data obtained from the platform, this can prove to be a vital part in determining the effects and alerting the team to any sudden changes.
Data management in planning and budgeting
When you are provided with access to accurate data, it will help in evaluating the ability of subcontractors involved in the operation. Moreover, with reliable data, it is easy for a construction company to determine the reliability of a potential partner. Irrespective of the social standards, every construction company must involve with various other companies depending for materials and other resources. With accurate data in hand, the companies will have the ability to analyse the risks involved with a potential partner. Removing a less resourceful partner from the setup could have far-reaching results on any project and can also help drastically cut wasted resources.
One of the major played by the data management platform is offering simulations, with precise data provided by the platform it will be easier for the construction companies to simulate and predict the outcomes of a project. Simulation with proper data can help contractors to identify the actual problem in the project even before starting the work in the site. Pointing out the real world limitations of a project will not be possible always but with accurate data, problems arising unexpectedly can be easily stopped.
Sensors with the data management platform
Sensor-based technologies have played a crucial part in information collection, data processing and data transmission; it will act as the foundation for modernisation of construction safety management. Implementation of sensor-based technology has become the core focus of the current safety standards in the construction industry. Data obtained from the sensors act as a bridge between the hardware and software, constructing an interactive management platform. This dramatically improves the construction site monitoring capacity and guarantees safety in a construction site.
Data in the construction field- the days ahead
Major construction firms are leaning towards the technology of tomorrow. These methods have the capacity to redefine the traditional relationships between the involved parties.
In spite of the immense changes data management can bring to the construction industry, a major setback is the huge amount of data which has been collected and siloed. The data obtained has been held in isolation by various departments where it will be used for their own analytics but plays an insignificant role in the bigger picture. When the bigger picture is considered, an ideal process must be formulated that can provide access to required data to builders and contractors.
The complexity of the platform is a big block in its integration with commercial construction. A dedicated team of data scientists in every project is not possible; it is also not cost effective. The implementation of an ideal data platform with perfect operations can likely undermine any chances of data being integrated into the field in the near future.