Translating cold hard numbers into meaningful information through analysis
As construction asset management looks to a digital and data-driven future, there are two challenges faced by stakeholders when it comes to turning data in action.
The first is the information management trap, where data is captured throughout the planning and construction process but ends up living in information ‘pockets’ or siloes, failing to be analysed or translated into anything of real value to a project.
The second challenge is the sheer volume of information that is generated and whether ‘good’ or useful data is being collected. Big data has the ability to generate endless figures, graphs or models, but if it’s not answering your questions – or giving you deeper insights to drive decision-making – then it’s of little or no use to a project.
In fact, research from FMI found that construction professionals are struggling to know what data to collect or understand how to manage it. As a result, decisions made using ‘bad data’ are estimated to be costing the industry over £63 million in rework alone.
There are a host of complexities which could be seen as barriers to digital adoption for the construction industry, such as the fragmented nature of projects, siloed tasks and the fact that every project is different. A solution to this is asset information management software, which has the ability remove those barriers by ensuring data is captured seamlessly and is easy to manage.
Not only that, but onsite or field data management has the ability to connect the more fragmented elements of a project. Field productivity means managers can improve site assessments through the monitoring and tracking of data in real-time, which eliminates human error and also ensures only ‘good’ data is being captured from the outset.
It’s not unusual for a build project to use a range of different reporting and data analysis tools or platforms to monitor project status and outputs. However, if they fail to synchronise or give you a more holistic perspective, then they are working in isolation and therefore not delivering any value.
Using a centralised platform ensures there is one point of information, a single source of truth, from which data can be captured and transferred into information that delivers real insight. A single reporting dashboard pulls the data into one place giving every stakeholder the same view, information and actionable insight across a build.
Construction tech is a huge growth market but with so many potential data points, there is a risk of overwhelming the people using it. It’s no surprise construction professionals sometimes struggle to know what data to collect. However, a single source of truth through a building asset management solution, will give stakeholders that clarity and understanding.
Done well, and working within a clear understanding of requirements, real-time data and analysis can bring huge financial, environmental and safety benefits:
More effective project management: A single source of truth across a project improves collaboration and reduces construction time, which not only means better resourcing, but also saves time and money.
Reduces waste: In the UK alone, we produce 100 million tonnes of waste every year. This is partly due to a more generalised ‘finger in the air’ approach to materials supply. Better data analysis looks at each project in isolation, pinpointing more exact material requirements resulting in more accurate ordering.
Reduces carbon emissions: Construction is one of the biggest polluters on the planet, but the industry is rapidly addressing this issue in order to be carbon neutral by 2050. Integrated BIM technologies mean architects, planners or specifiers can better identify where more energy-efficient products or solutions can be used as an alternative to traditional methods.
Improves build quality and safety: Stakeholders get a clearer picture across all aspects of a project, which means structural issues can be detected early on to avoid rework and any safety concerns can be flagged from the outset, not midway or at the end of a build.
There is so much more to effective asset lifecycle information management than data capture and storage. Having all the stats and figures you need at your fingertips is one thing, but it’s also about translating that into meaningful and actionable insight.
We are specialists in asset information management. Our flexible, cloud-based solutions give you a single source of truth for real-time data capture, management and reporting.
For more information on how Zutec can support your project, why not get in touch or request a live demo.
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