Data Warehouse is essential for reviving construction arena
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Construction Business Review | Friday, October 23, 2020
Data Warehousing is a technique perfected by manufacturers to gather and analyze insight on productivity, budgeting, and other essential information. It is convenient for them to keep all the information needed in one place and open to a single set of analytical tools. Well, the technology is coming to the construction sector as well, and it promises to make the buildings safer, faster and cheaper to erect.
Initially, construction has always been counted in physical infrastructure where data was not a key driver in business, but surprisingly that’s all changing. Now the tools of data analysis are available to one, and they can derive a lot of crucial information from the data available. Let’s have a look at how warehousing has changed the face of construction.
1. Budgeting: It is essential for construction companies to predict what a project will cost accurately and when will it be completed. To escalate their reputation bar, it is highly recommended for companies to improve their prediction game. This is because a data warehouse can give a reasoned estimate of the costs and delivery date. It can also tell if the project is in progress and whether it’s ahead of schedule or on track and recommend changes if necessary.
2. Productivity: Formerly productivity tracking was a manual process that often demanded an employee to keep a record of it and analyze it on regular intervals. But data warehousing can be used for analyzing anomalies long before they become serious issues. One can plan on generating a library of productivity data to track and measure future projects.
3. Safety: Data warehousing can prevent injuries. By utilizing cameras and various applications, one can perform regular on-site safety audits. Each audit is then loaded into the data warehouse to analyze trends and look for key indicators that can help organizations to comprehend future safety risks. Also, with the emerging technologies like drones, one could be able to act upon any accident even before it happens.
4. Resource allocation: With the growth of data warehouse, one can streamline not only the repetitive work of data entry but also the time-consuming work of data analysis thereby focusing more on client satisfaction and other developmental aspects of company growth.
