Predictive Analytics in Construction to Improve Project Outcomes

There is an immense amount of data and information available in every construction company on its projects - both past and present. Analytics of this data is one big advantage of digital transformation in the construction industry.

Data is used by the construction industry to improve decision-making, productivity, site safety, and risk management. Analytics can enable a more accurate estimate of projects, anticipate future project outcomes, and make adjustments as necessary by using the data collected effectively.

Here are other examples of uses of construction analytics:

• By decreasing the time required to access the supplies, tools, and equipment needed for a task, analytics increases worker productivity. Materials and equipment with sensors can be used to follow workers using wearable technology or a smartphone, as well as to monitor how objects are handled throughout the day. To find solutions that improve processes, this data is evaluated afterward.
• A business used information from more than 100 of its previous projects. They identified traits in their projects that affected profit margins by analyzing a number of variables.

All this is possible through a good construction management software platform.?

On a typical Jobsite, construction management software helps to increase efficiency and workflow, apart from lowering risk while raising worker safety, improving bid strategy to secure more business, and switching from basic to predictive analytics.