Why construction professionals need to see the value of data

Reading time: 3 min

The construction industry generates a huge amount of data. If business information is to be stimulated, however, data must be accurately specified, recorded and interpreted. Tracking and maintaining data is therefore an essential part of a project, given that it contains information about the critical assets, materials and equipment.

Seventy per cent of main contractors recognise the benefits of Building Information Modelling (BIM) during projects. That is why it is essential to set standards at the onset of a project to structure data and to gain practical insights. For main contractors, this means they need to understand and assess the core principles of data.

Data helps companies to decide which customers they should focus on. Data informs main contractors about which projects are the most profitable and enables construction specialists to confirm which main contractors are likely to ensure a commission. Data also helps you to make better financial decisions.

Why standards are important: the challenges of insufficient data

We are overwhelmed by large amounts of data. This reaction is usually caused by stringent, tight schedules and budgets, a lack of resources and skills, and a lack of understanding of the value or benefits of information for business activities.

The key to successful digitalisation is that datasets are complete, correct, consistent and connected. BIM models enable you to gain access to the necessary information confidently within seconds and to determine which actions need to be taken.

The core principles of data: define requirements

To utilise the power of data and facilitate practical insights and business information, you will need to define and understand what data is valuable and why. Ensuring that data is presented in a way that meets your requirements and in an accessible format is essential to improve efficiency.

Being specific about how this information is supplied has implications for how it is used. Data is often supplied in large quantities, resulting in high processing costs and reducing the potential for realising integrated, data-driven processes.

It is very important to know what you need, why and when you need it and in what format. Once these principles are established, it is crucial that they are managed, measured and repeated.

Data structure: the benefits of an online connected platform

Today, we have data-driven technology. This technology is open, flexible and easy to implement, providing owners with more insight into their data. Easy in, easy out. This allows construction professionals to assess the quality and completeness of data in real time to ensure they receive what they need during the handover.

Data that is collected and enriched during the project’s life cycle contains valuable insights for exploitation and maintenance, and future planning, design and construction. Main contractors can use this data to clearly define responsibilities and manage the supply chain and broader business functions more easily and without interruption.

A tender platform with insight into data

12Build offers construction specialists and main contractors convenient insights from data that we maintain both automatically and manually. These include providing main contractors with insight into whether a construction specialist is actually intending to submit a quote based on previous invitations to tender. But also insight into the financial health of a construction specialist through our collaboration with Creditsafe. Moreover, it is also possible for a main contractor to evaluate a construction specialist. If you have worked with the same construction specialist more often, 12Build shows you the average evaluation you gave the construction specialist for different projects. You will, therefore, always know what to expect as a main contractor.

Such insights are not only available for main contractors. Construction specialists can, for example, modify their intention to submit a quote to a realistic level, based on their own actual intentions to do so. 12Build also enables construction specialists to see how many invitations to tender they have received in total.

On our statistics page, we maintain an automatic overview for every specialisation of how many invitations to tender have been submitted, which construction specialists receive the most invitations and the average time it takes to respond to an invitation.

Would you like to know more about how 12Build uses your data? Or would you like to find out more about our platform? Just fill in your details and we will we get in touch with you.

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