Big Data & Predictive Analytics
Data analytics will help firms determine the most profitable projects to pursue and how to manage them efficiently. This will allow them to improve quality and increase productivity by shortening construction times, lowering costs and reducing risks.
Big Data enabled by Predictive Analytics are changing the way construction companies plan, design and build. By capturing more data than ever before, industry pioneers are now using Big Data and Predictive Analytics to make better decisions, increase productivity, improve site safety and mitigate risks. With artificial intelligence and machine learning systems, firms can turn the mountains of data they have collected over the years on projects to predict future outcomes and gain a competitive advantage when estimating and bidding on construction projects. As construction projects become more complex, Big Data unlocked by the power of Predictive Analytics may soon become the most important tool at a construction company's disposal.
But it is not only during the construction phase where Big Data comes into play - when in operation businesses collect vast amounts of real-time customer data and Predictive Analytics uses this historical data combined with customer insights, to predict future events. By offering innovative insights into how people interact with their surroundings and harnessing this intelligence to optimise the design and operational logistics - the usability of buildings and urban spaces can be transformed.
By maximising space utilisation, wayfinding and circulation efficiencies - operational effectiveness is improved, retail revenues can be increased and ultimately, the visitor or user experience is enhanced. From master planning to detailed design of major exhibitions and cultural events, airports, hospitals, and major transport hubs - the risk of bottlenecks can be reduced, and spaces can be transformed into inspirational, safe and inclusive places.
How can Big Data and Predictive Analytics help construction professionals make better decisions, increase productivity, mitigate risks and improve project outcomes? Find out on Day 2 from: