FOUNDATION FRAMEWORK
Data may be a solution to solving the industry ’ s workforce issue , by allowing executive leaders to gain insight into how to make their workforce more effective .
Experience is a traditional method of making decisions within construction . There are preferences and biases that shape the decisionmaking process and experience relies heavily on personal involvement . We can earn experience , but that knowledge is difficult to pass on to future generations . For the wisdom of experience to be realised , it must be captured and shared , or risk being forgotten .
Meanwhile , analysis is simply experience at scale . Analysis can consolidate the learnings of an entire organisation into a scalable and actionable resource that removes the bias layer , promoting more objectivity . This helps drive better decisionmaking and allows organisations to truly evolve better practice , efficiency and profitability .
Data literacy in action
Companies with massive amounts of available capital aren ’ t going to sit back and simply amass more capital – they ’ re going to reinvest those earnings into their business to secure new opportunities . The construction industry needs to view data with the same lens . The massive pools of data that construction firms have accumulated are better utilised by reinvesting that data into the business .
For projects , performance data helps owners and contractors better understand the tasks ahead , leading to tighter timelines , safer worksites and greater project certainty . Data literacy can also help provide an answer to common hurdles : the pros and cons of a certain project workflow decision .
From making better-informed decisions on materials to improving the approach to risk
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