More than ever, the construction industry is experiencing an increase in complex projects, shorter timelines, and supply chain issues. These factors are forcing today’s leaders to make substantial, smart decisions in a short amount of time. This increased pressure, coupled with inaccurate or unreliable data tracking, can put any size construction site management team at a disadvantage.
Teams without a data management strategy can potentially lose money without even realizing it. Nowadays, it’s imperative to understand how to reduce avoidable costs. The answer to this dilemma? Leveraging data management.
If you’re a part of a construction site management team, you need a solid plan for capturing and acting upon reliable data ASAP.
When it comes to the type of data that can be tracked for typical construction projects, this can include project-related measurements, observations and statistics, material quantities, safety incidents, enhancing labor hours worked, schedules, assigned staff, and cost data.
Just because you’re collecting data doesn’t mean it’s all good. A good data management strategy avoids collecting bad data that can hinder construction projects in the short and long term. In fact, bad data cost the global construction industry an estimated $1.84 trillion in 2020*.
A good data management strategy incorporates cloud-based technology, like the Eyrus platform, instead of non-collaborative and untimely channels like email, manual entry, and other ineffective tracking entries. Data management also includes consistent ways to track data with scheduling software that helps your entire team stay on schedule and check in real-time to enhance productivity trends.
It’s no secret that good data will yield better results than bad data. Data management and better workforce management visibility can give construction teams a competitive advantage by avoiding costly issues like:
Before it’s considered good or bad, data has to be collected from multiple channels - and typically arrives in numerous formats. It’s difficult to manage and can take up a large chunk of time that most schedules and workloads don’t account for.
Establishing a data tracking strategy before construction projects begin will allow teams to reduce avoidable costs. This will also help your team to compete with the growing number of construction leaders that are already utilizing workforce data management to make informative, quick and long-term decisions.
Data strategy has become the framework for capturing and managing a diverse wealth of data around construction jobsites. Don’t leave it up to chance. Incorporate management into the decision-making process for construction now and in the future to avoid risk. .
It’s important to know exactly what and how data can effectively interact with specific aspects of construction to gain visibility into productivity and the workforce. Here’s how:
The Eyrus worksite management platform makes the process of capturing good data simple. It gives your team the ability to make your data tracking strategy process more accurate, impactful and actionable all in real-time.
$220B+ in construction projects use the Eyrus Platform
255k+ Management hours saved with automated data collection
$90M+ project dollars saved using the Eyrus centralized system for on-site management
Avoid wasting time and money on bad data today. Investing in construction technology can create accurate project data that can be used to make smart and fast decisions. As construction teams around the globe work to make data more accurate and actionable, platforms like Eyrus will become the new normal.
Recently, a Virginia-based Fortune 100 financial services company used Eyrus Forecast Analytics to stay on schedule and resolve claims. Having good, reliable data gave them transparency into their project schedules, supported them in resolving claims and gave them the ability to make proactive decisions based on schedule indicators that prevented project delays. See the case study for more details.
To learn more about how the Eyrus platform could help your team collect and put your data to work, book a features demo with the Eyrus team here.
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