Resetting the Analytics Cycle
My friends, it is now mid-fourth quarter (for those of us whose fiscal year aligns with the calendar year). For most aspects of the business, allocated budgets are spent, and a lot of activity is winding down for the holidays. However, in the analytics world, this is precisely when our activity should pick up—even though we've been cycling through results all year. With at least nine months of data shaped by governance strategies, it’s time to focus on key areas such as data drift, model drift, and insight discovery. Additionally, groundwork for KPI identification, confirmation, and understanding, as well as planning for next year’s SLA targets, should now be underway.
A lot of games are won or lost in the fourth quarter (just ask the Kansas City Chiefs!). The same is true in the analytics world. Let’s examine my top 4 fourth quarter considerations for resetting the analytics cycle for another year:
Business Objectives Are the Core
Meaningful analytics guide stakeholders in understanding what drives success or failure relative to specific business targets. Thus, a cornerstone of resetting the cycle is the clear communication of findings from previous quarters. This is not just about presenting dashboards or reports but crafting narratives that frame the value proposition of the insights captured to date.
In the construction industry, this means contextualizing analytics with project-level implications—whether it's identifying patterns in project overruns, analyzing crew productivity, or tracking equipment utilization rates. Each insight should tie back to business objectives like reducing project delays, increasing safety compliance, or maximizing asset performance.
Equally important is the comparison of model outcomes with their original design criteria. For instance:
? Did the predictive maintenance models for equipment uptime outperform expectations?
? Were the labor productivity forecasts aligned with actual on-site trends?
A comprehensive review of these results provides clarity for what should be recalibrated for the coming year.
Compliance and Risk Management
Data privacy and ethical handling remain foundational, especially as construction firms adopt more advanced tech such as IoT, drone imagery, and sensor data. During the reset phase, analytics teams must conduct thorough privacy audits to ensure compliance with regulations such as GDPR (EU), CCPA (US), or sector-specific standards like ISO 19650 for construction information management.
Additionally, consider biases in datasets or machine learning models that could unintentionally skew results. For example, has historical bidding data led to unfair assumptions about subcontractor performance based on incomplete records? Or has geospatial data from smart devices introduced disproportionate weight to urban projects over rural ones? Identifying and addressing these risks ensures that analytics remain both compliant and equitable.
Reflection and Innovation
The fourth quarter is also a time for reflection and reinvention. With the year’s most pressing projects mostly behind, analytics teams can explore emerging trends and tools to strengthen their practice. In construction analytics, innovation often means going beyond standard methodologies to incorporate advanced techniques like:
Network Graph Analysis: Analyzing relationships between subcontractors, suppliers, and project workflows for better coordination.
Geospatial Analysis: Using GIS data to optimize site selection, logistics planning, and environmental compliance.
Generative AI: Experimenting with tools to create synthetic project schedules or automate post-project reviews.
For construction data professionals, it’s also a chance to revisit exploratory data analysis (EDA) methodologies. While Time Series Analysis—like trendline forecasting or exponential smoothing—is the backbone of many construction analytics efforts, this is the time to dive into Bivariate or Multivariate analyses to uncover relationships between variables that may otherwise go unnoticed. For example:
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? Correlating weather data with concrete curing delays.
? Understanding how crew size influences safety incident rates when paired with data from wearables or IoT.
Planning for the Future
As you reset the cycle, it’s essential to align with broader organizational goals. Consider these three steps to ensure a smooth transition into the new year:
1. Reassess Key Performance Indicators (KPIs)
Are the current KPIs driving actionable decisions? For example, if you’ve been tracking time-to-completion without considering the influence of material delivery delays, now is the time to adjust.
2. Engage Stakeholders Early
Hold end-of-year workshops to revisit SLA agreements, collaborate on next year’s priorities, and ensure alignment between analytics deliverables and business needs.
3. Budget for Growth
Analytics capabilities in construction are increasingly sophisticated, requiring investment in data governance, training, and advanced tools. Advocate for these needs as part of the annual budgeting process to avoid stagnation.
How Can Tilson Help
Resetting the analytics cycle is a unique opportunity to reflect on successes, learn from shortcomings, and chart a new path forward. In the construction industry, where margins are thin and risks are high, analytics has the power to transform raw data into actionable strategies that reduce delays, improve safety, and increase profitability. As you close out this year and prepare for the next, remember: analytics isn’t just about looking back—it’s about building better.
Our team, with decades of experience and notable work for many ENR 400 construction companies, is positioned to guide, implement, or supplement the analytics strategy for your organization.
From KPI discovery to analytics stack maintenance, we’ve got you covered. Leveraging the latest, current, and emerging technologies, Tilson is dedicated to transforming raw data into actionable insights, enabling your organization to make data-driven decisions that drive efficiency, reduce costs, and enhance project outcomes.
For more information on how Tilson can transform your company's data analytics strategy, contact us at [email protected] or visit our website.
What steps are you taking to reset your analytics cycle? Share your experiences, and let’s learn together!
Ecosystem Builder | Community Engagement @ Tractics
3 个月Great write-up, Derrick! Looking forward to connecting with you in a couple weeks. Dinusha is teeing it up.
K-12 Educator and admissions professional guiding future generations through embracing AI and teaching perseverance.
3 个月Informative article, cuz! Great work ????