Analytics becoming more important for construction decision-makers
February 15, 2013
Big data streams are becoming larger and construction companies continue to use business intelligence tools to gain insights from the. As a result, it is important for firms to find ways to ensure the firm is maximizing on the potential of big data resources. Big data and construction are both changing due to innovations in technology, prompting Gartner to understand how firms will be gathering analytics in the upcoming year.
Data scientists must make insights more actionable to users
With construction firms beginning to invest in ways to undertake their big data initiatives, there needs to be a point of emphasis on making sure executives within the company, who are not knowledgeable on mining through the massive amounts of information, are able to understand the insights that come from business intelligence tools. The Gartner research shows professionals are only able to make business-critical decisions if they can truly digest the data and make meaningful changes to the firm from the information.
"A large enterprise makes millions of decisions every day," said Rita Sallam, research vice president analyst at Gartner. "The challenge is that companies have far more data than people have time, and the amount of data that is generated every minute keeps increasing."
Firms must manage data in real time
The growing amount of information that businesses must mine through is causing firms to fall behind and let important data fall by the wayside. Construction companies must invest in operational intelligence systems to ensure executives are able to take the information in real time to use to the firm's benefit, according to the research firm. Businesses that are able to use big data insights in real time from social and mobile information are the ones that will be able to alter their offerings to mee?t the needs of clients, as well as gain more customers.
"In the face of accelerating business processes and a myriad of distractions, real-time operational intelligence systems are moving from 'nice to have' to 'must have for survival,'" said Sallam. "The more pervasively analytics can be deployed to business users, customers and consumers, the greater the impact will be in real time on business activities, competitiveness, innovation and productivity."