The construction industry has learned the long-standing challenges of labor productivity and on-time project delivery from past recessions (and recently COVID-19). As a result, firms have realized that current and historical data play an important part in business decision making and may even change the course of the industry. While artificial intelligence and machine learning are powerful analytics technologies, they may be too sophisticated and expensive for many firms. Descriptive and predictive analytics often don’t require machine learning. Using basic statistical techniques, you can offer an easier, faster and simpler alternative to capture insights, solve business problems and improve decision making.
In this webinar, you will learn about those techniques behind practical analytics and how to unlock data insights already hiding within your construction management system. These insights often deliver immediate value, including catching cost overruns early and automating timesheet approvals. Extracting value from data starts with collecting data. We will discuss the data pyramid and work through data engineering, management and reporting—stopping just short of data science. We will also examine a business problem positioned by a customer and how we used the practical analytics approach to provide a solution.