How Real-Time Data Aid in Making Smarter Decisions For Construction Projects
From the initial planning phase to the final touches, construction projects demand significant effort. Considering all factors, how does the accessibility of real-time data contribute to making smarter decisions in building projects, ultimately leading to enhanced productivity? Learn more about it here.
(Photo : Pexels/Ivan Samkov )
Real-Time Data in Construction Projects
Regarding data and communication, there has been a time delay between the main office and the construction sites from the beginning of the construction process till the present day. However, avoiding those delays was crucial to maintaining the project's schedule and financial resources. Although mobile phones, and now smartphones, have brought about a respite in this lapse, it is not always the case that they are utilized to the utmost extent of their capabilities.
A recent survey conducted by Gartner found that 62% of the 1,200 businesses that were contacted indicated increased productivity due to the implementation of real-time data systems. In comparison, 80% of those businesses witnessed an increase in income. Based on the organizations that were polled, this study would show that real-time data gave these businesses benefits, including their finances and operations.
Accordingly, project management is made much more straightforward than ever because of construction software's additional functionality. For any construction project, a large number of individuals are involved, including general contractors, subcontractors, architects, engineers, consultants, clients, and other outside agencies, all of whom need to agree with one another.
One of the benefits of the rapid advancement of digital technology is that it eliminates the possibility of communication breakdowns occurring between offices and building sites. Rather than information being transmitted over the phone or via email, which can result in delays and the loss of data, which can lead to costly delays to projects and dissatisfied clients, this method is preferred.
These days, cloud-based construction ERP software, along with real-time data and collaboration tools, allows for the uploading of information via mobile devices such as smartphones, tablets, and other electronic gadgets.
Efficiency of Digitizing Data
The digitization of data results in a reduction in the number of building mistakes, a reduction in the amount of rework, and an improvement in both productivity and site safety. As part of the How We Build Now report, a recent poll conducted by Procore among construction industry leaders in the United Kingdom and Ireland revealed that senior executives feel that digitization has the potential to reduce project costs by as much as 25%.
The technology that harnesses every figure, every process, and every detail that goes into a project is the driving force behind this innovative change that is genuinely transformative. In this way, business leaders can ensure that their staff are held accountable for addressing concerns promptly. It is also possible for them to employ a different perspective on the data to demonstrate progress to their customers reliably.
On the other hand, due to poor supply chain-management team coordination, traditional paper-based methods and non-integrated software solutions need total project visibility and increase the possibility of cost and time overruns.
By consolidating all of the procedures, records, and individuals into a single, easily accessible location, construction platforms such as Procore can circumvent these problems. The software scales across numerous projects, letting managers manage more work. Using this technology, they can spot performance trends and regions that need to catch up to schedule or budget.
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