Running a profitable construction firm is a difficult business. Faced with an unprecedented number of external pressures such as eroding profit margins, higher owner expectations, rapidly changing technology, and a dwindling workforce, only contractors who follow best practices will achieve a higher return on investment and reduce their risk.
Big data analytics is being adopted at a rapid rate across every industry. It enables businesses to manage and analyze vast amounts of data at ultrafast speeds, and obtain valuable insights that can improve their decision-making processes.
One of the industries that are reaping the benefits of this technology is the construction industry. Construction companies are using big data to perform a wide range of tasks, from data management to pre-construction analysis. For the construction industry, volume and variety becomes particularly relevant. From project planning to the project close out, a lot of structured as well as unstructured data is being generated and recorded for each construction project. Examples of those data include daily work report, data generated from various sensors and equipment, images and videos of the construction site, etc. With the use of some of the big data technologies, useful insights can be obtained from these datasets. Larger the size of data, more accurate the predictions and conclusions drawn from it.
KREARA will leverage your data and drive better visibility across projects by providing insights and measuring key performance indicators such as: liquidity indicators, schedule variance indicators, committed cost indicators, backlog indicators, scorecard indicators and work-in-process reporting.
Our big data analytics can help you gain valuable insights that enable you to improve cost certainty, identify and avoid potential problems, and find opportunities for efficiency improvements.