Cost Effectiveness of Data Collection & Data Analytics Technology Tools For Construction Contractors
In an industry charged with the complexity of building homes, commercial buildings, airports, hospitals and more, it seems strange that the construction sector should lag behind in acceptance of tools designed to promote efficient data collection and data analytics. Perhaps the lag in approval comes about due to a failure in the technology industry – a failure wherein promoters do not fully expand on the value of real-time construction communications coupled to accurate compilation and analysis of data.
After all, startup expenses on an investment in construction-based data acquisition, tracking, mining, analysis and reporting tools can be costly. Likewise, the on-going relationship with a reliable software programming and communications assurance firm requires commitment to a monthly or yearly maintenance program. It can sometimes result in a faulty concept wherein the cost of reliable and extensive data management technology seems to offer a rather poor Return On Investment.
In this article, we explain how the Assignar workforce and asset allocation and planning software provides construction contractors with a reliable real-time and cost-effective data collection, reporting and analysis tool.
Five Benefits of Data Collection and Data Analytics In Construction
Imagine the capacity to process massive quantities of project-related data at an unprecedented speed. Pump in the value of real-time communications. Tack on ready access to current and new documents pertaining to:
- Health and safety
- Quality control
- Management of labor and assets
- Changes in processes and site layout
- Processing of invoices, payroll and client relations
- AND Confirmation of both written and verbal communications.
Now take it to the level of reliable and comprehensive data collection and analytics. Five primary values come to mind:
1. Improved Capability to Solve Problems
Increased knowledge promotes better decision-making. Tools that help construction companies collect, organized, search, analyze, and access current and reliable data effectively enhance the process for solving daily and long-term problems.
2. Risk Prediction
Finding and eliminating risks improves long-term cost certainty. Acquired information presents opportunity for greater assessment of cost-related risk factors.
3. Performance Evaluation
Time is money. With sufficient accurate data, construction companies can easily compare projected profitability and efficiency to real world performance.
4. Increased Bidding Accuracy
There is truth in the old saying, “There is no substitute for experience.” However, experience plus data plus fine-tuned analytic software tools amount to more granular bidding. Assignar helps you calculate hidden costs as well as obvious costs.
5. Real-Time Feedback
Access to real-time data analytics offers advanced insight toward improved equipment and labor planning requirements. It also enables daily progress evaluations, rapid course corrections, and instant awareness of unexpected costs overflows.
Assignar For Data Collection and Data Analytics
Construction contractors use Assignar workforce and asset allocation and planning software to craft customized reports designed to enable better insight into daily operations. The Assignar “Data Visualizer” enables rapid and accurate visualization of your most important business processes. Learn how it can work for you. Examine Assignar Reporting and Analytics features for FREE.