The Data Awakens

Today we celebrate the Star Wars Day - and as a true fan I would like to share a few thoughts on the importance of the invisible force that surrounds everything and significantly determines the success of our projects: data.

Just like the battle between the dark and light sides of the Force in Star Wars, the AECO industry is facing a similar struggle with good and bad data. The cost of bad data was estimated to 2020 trillion $ in 1,84 - a number that could have made even Emperor Palpatine flinch (Source: FMI Report - Data Advantage in Construction (autodesk.com))

Source: Harnessing the Data Advantage in Construction (FMI Report)

On the light side, good data is akin to the Jedi's use of the Force - essential for making accurate project decisions. The survey illustrated in the FMI report revealed that 43% of respondents identified time constraint/urgency of decision as the greatest risk to project decision-making. This signifies that the quality of project data needs to improve for quick and autonomous decision-making, much like Jedi Knights making critical decisions in the heat of a lightsaber duel.

However, as Yoda might say, "Quantity, quality does not mean." The report highlights that the sheer volume of data does not always equate to its usefulness. More than 80% of those surveyed report a rapid increase in project data, the majority even speak of an increase of 50%. However, the mere accumulation of data is no guarantee of useful insights or improved decision-making.

Source: Harnessing the Data Advantage in Construction (FMI Report)

Just as Luke Skywalker had to learn to harness the Force to become a Jedi, construction industry leaders need to focus on the quality of the data collected to truly leverage it for a competitive edge A sound approach to data management and analysis, including the use of adequate tools and processes, will be a decisive competitive advantage in the future. In fact, 39% of respondents said these skills will be extremely or very important for project management and site construction managers to work effectively in the future.

Data, much like the mysterious force that holds the Star Wars galaxy together, is the driving force in the AECO industry. It's not just about collecting data, it's about making sure that data is reliable, actionable, and used effectively. To achieve this, we need the understanding and the right tools to evaluate the data quickly and reliably.
In this context, digital transformation is not an option, but a must.

May the data be with you!

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