Construction analytics is the process of collecting, analysing, and monitoring data to improve capital project outcomes, reduce risks, and uncover critical insights with the help of real-time data and automated construction reports, consolidated from multiple sources. By connecting these data sources, building companies have the chance to simplify the whole construction process by using online BI and combining financial data, corporate data, schedules, deadlines, and other critical elements of successful construction project management. It’s fairly known that this industry is one of the most complex webs of different business touchpoints and holds the enormous potential of untapped data, oftentimes hidden in several systems and solutions. That’s why professional construction analytics software can help you in turning these immense amounts of data into cost-efficient, sustainable, and actionable results.
"We were amazed how easy it was to use datapine and get the first KPIs within a couple of minutes. An average Excel user can configure and work with datapine with zero IT overhead."
Simplify Construction Project Management
With so many processes within construction, there is little or no space for guesswork anymore. Data needs to be up to date, reliable, and optimised to ensure high-quality deliveries, and construction BI can certainly help.
Become a data wizard within less than 1 hour!
Cost overruns, delays, disparate data, and untapped potential in productivity, all lead to challenges that, ultimately, generate enormous costs and decrease productivity. As part of the RIB Group, we have extensive expertise in the building industry, offering a state-of-the-art construction data analytics solution that provides not only cost optimisation leverage, but the ability to increase planning quality, immediately access progress status, optimise budget development, and breakdown each cost into interactive visuals. The flow of information is, therefore, enhanced, and construction business intelligence is born.
In a sector where underestimating costs and misjudging variables that influence the final result can cause business disasters, it’s imperative to consolidate data, analyse historical information but also utilise construction predictive analytics, and develop a comprehensive construction dashboard.
The construction sector generates massive volumes of information, as mentioned, and needs solutions tailored for day-to-day management as well as creating sustainable business strategies. Working with construction management software, companies have the opportunity to dynamically interact with multiple business touchpoints through powerful data visualisation and customisable construction reports that will enable each user to generate actionable insights. This is important as these solutions are fully adjustable to the digital transformation that the construction industry is also a part of. Traditional means of data analysis such as static presentations or multiple spreadsheets and paper reports no longer serve the needs of the construction industry.
On the contrary, they slow down and influence capacities, cause communication issues, and increase chances of generating errors that cause immense bottlenecks not just in time management, but costs as well. With the help of specialised business intelligence software for the construction industry, processes such as defect analytics, procurement management, estimates, quality management, or various overviews (e.g. project or risk), are easily visualised through modern construction dashboards. Making better-informed decisions is just a software away.
The most successful construction companies have introduced interactive reporting, real-time data, and dashboards into their operations in order to connect different areas of the project, from scheduling, budgeting, to optimising the project development and ensuring the work is delivered on time. By introducing professional reports and construction dashboards, project leaders, architects, construction managers, and the whole management team can gain a clear overview of the most critical metrics and milestones, resolving countless administrative hours and increasing productivity levels. To see these notions in practice, you can take a look at our construction dashboard example below, where we visualised an overview of the most important KPIs for a project overview, including projects by status, and projects on a watchlist. You can immediately spot the contract value, margin, budget, and a number of critical indicators that will help you in monitoring the current status as well as successfully delivering your complete project.
There are various potential areas of applying reports and dashboards that we didn’t cover with our examples, but here we present several that focus on 3 different areas of reporting: daily, field, and progress reports. These reports ensure data is available at all times, and every stakeholder has the possibility to access information at any time, and from any place:
Construction daily report: This report is focused on daily activities on the site such as equipment usage, work performed, delays, or even weather details. That way, stakeholders have the opportunity to access information without needing to visit the construction site physically which, in turn, helps in establishing better customer relations and improving time management processes. It’s critical not to skip daily reports as they can point to potential issues early on, such as a high number of working hours that can cause burnout and delays of the project. If spotted on time, you have the opportunity to re-organise your resources and potentially even hire more people.
Construction field report: This report, also known as the construction site report, gives managers and on-site crew a detailed overview of the tasks and activities of what needs to be done, and, traditionally, they were created in a .pdf or Word file. These static reports have caused bottlenecks since they were done by hand, and required substantial resources on a day-to-day basis. By introducing modern construction field reporting software, each member of the team has instant access to a dashboard and can immediately spot if there are issues in the field management such as risks of running behind the schedule or there are additional costs that are going to affect the project end.
Construction progress report: Similar to the field report, progress reports are prepared regularly, but often on a monthly basis and their goal is to drive discussion during progress meetings, analyse the progress and KPIs such as SPI (Schedule Performance Index), CPI (Cost Performance Index), quality issues, and cost performance. This kind of a report, also known as construction status report, is focused on the project progress, and are regularly conducted by the construction managers, clients, consultant teams as well as contractors. While there are standard static reports that managers can use to manually incorporate progress piece by piece, modern solutions have the option to integrate intelligent alarms that will notify you as soon as a business anomaly occurs.
As we can see, these reports have some similarities but also different scope, time frame, and goals, depending on the construction project itself, and the team that is involved in the process. To create a report on your own, you can check out our construction report template and adjust the necessary metrics and information, depending on the goal and metrics that you want to include. Generally speaking, the point of creating such reports is to improve collaboration, enable instant sharing and enhance communication since it’s of utmost importance to have clear data that will help the whole team to work more effectively and productively. Modern technologies are slowly but surely eliminating paper reports and it’s time to embrace professional solutions that will bring construction project management onto the next level. From automated scheduling and calculations, the possibility to utilise real-time data, and the chance to offer transparent access to reports and information bring positive business developments and sustainable growth.
A professional report and construction project dashboard will not only enable you to gain a holistic overview of the most important business processes but also immediately spot potential inefficiencies and mitigate risks. Not to mention the value that predictive analytics in the construction industry brings since you have the possibility to utilise modern solutions such as machine learning, forecast engines, and advanced mathematical processes to foresee future project scenarios. This is not only important for the planning stage, but also to ease the stress around the whole project management process and have a glimpse in the future that will help with the current decision-making process. Finally, at datapine, we understand how important it is to stay on top of construction performance, and the need to digitalise a number of processes that were traditionally performed manually, and monetise your time and efforts thanks to our business intelligence software for the construction industry.
In recent decades, construction firms have started to heavily transition to the digital age, and that includes modern analytics. Allowing managers to quickly analyse and react to project data while relying on smart solutions has become a standard principle in evaluating project planning, performance, and final results. On a daily basis, analytical solutions have the power to alert the management, reconciliate data that is stored in disparate systems, and create a form that is not only visually pleasing, but effective and digitally accessible to the whole team.
The purpose of using business intelligence in the construction industry is not only focused on automation, predictive analytics, machine learning or dashboards but to derive insights that will transform your construction company into a more sustainable one and use a single point of access of all your data, as mentioned, creating thus a focal point for generating growth. Companies will need to adapt to these processes as capitalising on insights hidden in data is becoming more and more essential, otherwise, construction projects become a source of endless costs and project delays. The point is to identify problems before they occur and lead the project to save time and expenses with the help of professional construction project management software. To see all of these possibilities in practice, you can try datapine for a 14-day trial, completely free of charge!
Become a data wizard in less than 1 hour!