Data science: 7 benefits of using data in the construction industry

The use of data and the application of data science techniques bring numerous benefits to the construction industry , including informed decision making, risk reduction, increased predictability and much more. Therefore, these trends must be observed by those who want to grow and stand out in this market.

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Continue reading and explore the 7 benefits that data science offers to the construction industry.

The importance of using data in the construction industry

Today, it is possible to collect, record and analyze information at all stages of the industrial production chain . As a result, the construction industry has powerful information to improve processes, save resources, generate more efficiency and business value.

Despite the benefits mentioned, many construction companies face challenges that prevent them from evolving and using data strategically. These are some examples:

• difficulty collecting and organizing data
• lack of suitable tools
• lack of knowledge to analyze data
• shortage of qualified professionals
• difficulties with historical records

And the negative consequences of the misuse of data are numerous for these organizations and result in process failures , lost business opportunities , reduced performance and delays in project deliveries .

Therefore, one thing is certain: there is a real difficulty in using data to generate value and business impact in the construction industry.

What is the solution for this? Continue reading and find out!

The 7 benefits of using data in the construction industry

Now that you know the importance of data science in the construction industry, it's time to discover the 7 benefits of using data science in this industry.

Let's go?

1) Project management made easy

With the immense amount of data generated daily and the variety of technologies available, it is difficult to imagine modern and efficient project management without the analysis and use of data.

Therefore, for civil construction projects to be properly managed, real-time data collection and analysis is recommended.

This means it is possible to have accurate information to base decisions efficiently and projects can be completed successfully, on time and within budget.

These are other improvements that professionals in the construction industry can develop using data science technologies in project management:

• improved workflows
• task automation
• cost reduction
• efficient team management

2) More predictability

Predictive analysis is an advanced data science technique that combines historical data and current data to create future predictions.

Considering the uncertainties and constant changes in the construction process, its application is of great value to construction companies, allowing the identification of risks, problems and challenges even before they occur.

For example, it is possible to simulate scenarios , including geographic, financial and structural conditions to ensure more efficient and quality works.

3) Smart planning and budgeting

With data science, construction companies can create intelligent budgets and planning, leaving intuition aside.

As? Cross-referencing historical data and market data as a parameter to accurately assess your delivery capacity, employee availability, supply and demand levels, the need for specific materials and much more.

Furthermore, it is also possible to include risk analysis within the planning and budgeting stages of works.

With this, construction companies can map potential risks involved in the process and choose suppliers of quality materials and labor.

4) Better logistics and storage control

Did you know that the logistics department is one of those that can benefit most from data science?

By applying data science in this area, a construction company can better control the supply chain, optimize operational services, increase accuracy in the delivery of its products, and much more.

5) Analysis of indicators and data crossing

Indicator management is fundamental for monitoring and optimizing processes for increasingly efficient management, therefore, it is an essential part of successful planning

And it is no coincidence that this area has everything to do with data science. Do you know why?

By combining data science with indicator analysis, it is possible to cross-reference relevant business data in real time, so that management can control the progress of projects and obtain valuable insights to take the next steps more efficiently and predictably .

As a result, these companies have more information to make strategic decisions, direct resources, optimize processes and leave their customers satisfied.

6) Waste reduction

It is known that the purchase and management of materials are fundamental to the outcome of a successful project in the construction industry.

With the application of data science in construction, managers can accurately predict the amount of inputs needed to carry out a given work as well as estimate the time to carry out certain tasks.

Furthermore, it is also possible to use predictive models to assess waste levels based on historical data, such as construction patterns and past projects.

The result: reduced costs, fewer risks, optimized processes, assertive budgets and better use of materials.

7) Reducing risks and increasing safety

Did you know that the use of data analysis in the construction industry can generate positive impacts, reducing risks and increasing worker safety ? We explain.

Today, it is possible to install sensors and gadgets capable of collecting real-time data about working conditions on a construction site, including local temperature, noise intensity and dust particles.

With this, construction companies can anticipate, at an early stage, problems and risks that could impact the health of workers and use this information to take the necessary measures to prevent incidents and increase safety at work.

How to implement data science in the construction industry?

To harness the power that data science can provide the construction industry, you need the right tools and methodologies .

Why?

With the appropriate use of data, construction companies can prepare to collect and explore relevant information to monitor the entire production process, including:

• workplace data collected by wearables, mobile devices, and sensors on equipment and materials.
• office accounting and work progress data.
• project management data and more.

Don't know how to start? Check out this material !

Without a doubt, if you start today, you will be closer to a future with powerful information, more predictability, less risk and more sales.