Construction companies across the country have valuable repositories of data within their systems. However, most don't quite know how to use this data to generate value for future projects. While engineers have the primary role of helping you plan and implement your workflows, you can also rely on these professionals to provide valuable data insights. In other words, engineers can help you identify use cases for your data.
You already have enough to get started with an analytics approach. From your previous budgets to data collected by sensors on site, construction companies have expansive and valuable data silos that they can analyse to uncover valuable insights.
Analytics is the process of using structured and unstructured data to generate value for your business. By using algorithms and other advanced tools to sift through large quantities of data, your company will be able to leverage unique opportunities and achieve faster growth.
You may be still wondering how you can use analytics to meet your company's goals, and specifically how engineers can help towards this end. Read on to find out.
1. Assess your risk environment
Risk is an integral part of any company's operations. You'll come across risks when dealing with employee safety, equipment performance, and subcontractor hiring. How does your company currently handle such risks? Analytics can help you significantly cut down on the cost and time it takes to analyse your risk environment.
By using data sets from previous projects, clients, and tools, you can get a more in-depth perspective of your risks and develop a plan for managing these threats efficiently and effectively. For example, engineers can use blueprints from your past projects to assess where you should focus your resources moving forward.
2. Develop useful tools in real time
Customers are increasingly becoming picky in their preferences. Construction companies can no longer simply apply the same workflows across all their projects. You may find that one residential client prefers hardwood floors, while another is a fan of concrete. Your commercial customers may also wish to have their buildings made from different materials and designs. So how can you keep up with rapidly evolving customer preferences?
Smart tools and apps are the answer. Engineers can use your data pools to help develop tools that are unique to your business. Whether you need an estimating software for material preparation or an interface for controlling your building machines, analytics is your best friend for identifying and covering up performance limitations.
3. Reduce downtime from equipment issues
Speaking of machines, analytics can also be used to implement predictive maintenance. This is the process of keeping track of your equipment variables so you can tell when it's time to carry out servicing. Analytics and predictive timely maintenance reduces downtime and other operational costs.