FOUNDATION FRAMEWORK
more effective . Insights pulled from data literacy empower contributors to achieve high-value outcomes , directly counterbalancing labour shortages , while data-driven views of projects allow teams to more accurately understand the requirements of each contract and action them accordingly . This all allows teams to focus on the necessary work to maintain a successful project while eliminating fruitless tasks .
New generations of talent entering the workforce have a better understanding of data literacy , but this culture of data cannot be built exclusively from the bottom up . It ’ s important that C-suite individuals as well as leaders across levels invest in data literacy in order to reap the benefits of data throughout the organisation .
Rob Bryant , EVP of APAC at InEight
One very human impediment to change I hear frequently when speaking with industry stakeholders is a lack of trust . Trust between parties , between project teams and between owners and contractors . An understanding and sharing of trusted project metrics is a catalyst for confident discussions and an opportunity for more trusted relationships . management , understanding data allows decision-makers at construction firms to make more strategic decisions . Proper data literacy allows owners and contracts to not only understand a project ’ s limitations early on in the lifecycle but to also catch potential obstacles before they materialise and create time and budget concerns . Leveraging accurate data is key to reducing future scope changes across a project and amending some of the construction sector ’ s most pervasive problems – running over budget and over time .
Putting data literacy into action
At the end of the day , construction is a peopledriven business . The economic landscape over the last few years has caused a talent shortage and left organisations struggling to both find and retain top talent . Construction is not the only industry impacted by the talent shortage , but it has taken a hard hit .
All of this to say , data-driven decisions are only as powerful as the data they employ . Nearly 80 % of organisations find accessible data to influence their project outcomes , but that data needs to be both structured and consolidated across the organisation in order to drive results . A company that lacks structured data can do great work with significant impact but will struggle to maintain sustainability in the process .
Data is the construction sector ’ s golden ticket , but it will take continued investment and focus of effort to maximise the performance of a dataliterate organisation . Construction executives across every level must invest in data and their literacy to reduce risk and fuel their organisations for the future . Those that do will be leading the sector into the next decade . Those that do not will continue to fall away . �
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
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