How analytics is helping build up the construction industry
Analytics, big data, and even drones are coming together for better project management in the construction industry. Image: anyaberkut/Getty Images/iStockphoto In 2016 research conducted on the construction industry, McKinsey & Company concluded that "Large projects across asset classes typically take 20% longer to finish than scheduled and are up to 80% over budget." More about Big Data This is an enormous cost burden for construction companies and an unhappy outcome for customers. It's also why there are very serious efforts underway to use data from different sources to make large-scale construction projects easier to manage . SEE: Special report: How to win with prescriptive analytics (free PDF) (TechRepublic) "The construction industry uses many different subcontractors and systems and is plagued by too many silos of data that can't speak to one another," said Scott Unger, CEO of Kahua , a construction analytics company. "Constru...
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