The Power of Trust in Analytics is a three-part series that explores how engineering and construction executives can effectively leverage data and analytics to improve strategic decision making and gain a competitive advantage in their industry.
Leading engineering and construction companies are likely already collecting copious amounts of data, but may not be using it in meaningful ways. This series shares insights on how to identify key sources of data, the best ways to leverage existing data, and the future of data collection and analysis. Learn more about the investment executives should be considering now in order to be equipped to make meaningful decisions that will significantly impact their company’s financial performance and their brands.
Data and analytics is increasingly used to identify trends and increase project performance. While drawing on a variety of sources enhances the ability to unlock data’s potential, there can be challenges assessing numerous disparate systems that contain large amounts of data. Performing an initial evaluation of your current abilities to collect and analyze critical data is the first step in developing a plan. In Part 1 - Understanding your data, we outline key considerations as well as the challenges and risks to take into account when assessing your data and analytics capabilities and goals.
How should engineering and construction companies use existing data to drive business decisions? Basic analytics can generate quick wins by equipping executives with information to evaluate which markets or clients are most profitable. In Part 2 of the Power of trust in analytics will identify ways to leverage existing information to make better decisions on planned or ongoing projects. Using examples and case studies, we demonstrate the benefits and challenges, and share a dashboard reporting key performance indicators.
Learn more about the investments your organization should consider to help move the needle on predictive and prescriptive analytics. This last installment of the series will focus on building a roadmap for best-in-class data analysis that can be used to better market to customers, monitor compliance and mitigate risk, and ultimately improve the bottom line.
Note: Part 3 of the Power of Trust in Analytics has not yet been released.