Do You Have a Construction Data Strategy?

construction data

Data: Project-related measurements, observations, or statistics, including building information modeling (BIM) inputs, material quantities, safety incidents, request for information (RFI)…schedules, assigned staff, and cost…-Autodesk.com

Construction managers and contractors rely on construction data to make bids, estimate costs, and provide timelines. But if you do it without a formal strategy, you’re putting yourself and your company at risk.

When Good Construction Data Goes Bad

Quantity doesn’t necessarily equal quality. There’s so much data available to us it’s become a challenge to know which information is actionable. Where to find the “good” data is another challenge; managing it seems like a full-time job.

One of the benefits of a formal data strategy is minimizing the time spent sorting and analyzing data. When it’s good data, you can spend more time using it.

In one survey, 30% of contractors said more than half the data they used for a project was bad. One-third of the survey respondents said the bad project data led to “poor decisions” more than 50% of the time.

Here are signs you may have bad data:

  • Data is exactly what is represented (For example, dates should be dates, not text.)
  • Each column has a one heading/meaning
  • No “grand totals,” no subtotals
  • No duplicate headings
  • No empty rows/columns
  • No formulas in headings
  • No merged cells
  • Same data type in a column (Blank cells where data is not available are ok.)

Accurate Field Decision-Making Critical

When you need project information, you need it now, especially onsite. Developing a formal data strategy can put information a few clicks away.

The steps to developing a formal data strategy include:

  1. Single point of focus – Start by identifying where your need is greatest.
  2. Get company-wide buy-in to the process.
  3. Standardize data capture for all projects.
  4. Keep updated project data in a common, accessible environment so immediate communication and collaboration is possible.

You have to spend money to make money. That’s why your software partnerships are critical to your company.

The only software partnership we endorse for you is ours: Construction Monitor analytics. We don’t sell software. We use our software to customize building permit information for you. You could DIY (do-it-yourself).

Do you have time? We make time for you every week.

Call 800.925.6085 (International/435.586.1205) or contact Construction Monitor for good data.