KHALEEJ TIMES, Tuesday, Jan 18, 2022 | Jamada Al-Aakhirah 15, 1443
Real-time insights - A boom for construction industry
Emirates: Industries and markets are evolving quickly than ever
because technology is a constant in this journey. In the construction industry,
this rings true when solving and addressing specific tasks, from snagging to
document management. With increased remote collaboration in the post-Covid-19
environment, the industry should provide tools that connect the dots and offer
value. Only then will the industry unlock the greatest level of performance
which real-time insights can offer.
Currently, the challenge for construction companies is not in capturing data but
in extracting valuable insight from it. Our commissioned research found that
over two-thirds (71 per cent ) of construction managers surveyed in the UAE are
still using outdated manual tools, like spreadsheets, to measure performance.
This explains why only 24 per cent rated their level of visibility of
performance as 'very high' and others were incomplete, inaccurate, and
duplicated insights (over 38 per cent).
Technology is notably helping construction businesses to thrive in the ability
to access and use real-time insights to gain visibility of an entire
construction life cycle, as well as overall business performance. With this
information, businesses are making informed decisions and experiencing a wealth
of benefits-including saving them time and money. For instance, real-time
insights showing how many days a particular trade takes to resolve the issue can
allow project managers to identify the best partners to work with moving
forward.
However, the benefits of real-time insights are not purely time and
money-quality and safety are also two areas to be improved. Almost half of those
surveyed (49 per cent) registered fewer defects; 48 per cent reported better
tracking of safety records. As a company with a data-driven culture, Visioneer
Builders continually strive for industry excellence in quality and safety and is
an example of how real-time insights can leverage to set new performance
benchmarks.
Real-time insights are helping to save businesses both time and money. Our
survey found that every manager, on average, saves nearly a full day's work
(almost five hours) each week, while businesses as a whole save Dh 1,275,000 per
year. In contrast to those without visibility, globally lose 3.5 hours each
week, for Dh1.3 million per year.
Single-platform technology enables applications and tech tools to talk to each
other and offers the ability to gain insights to improve workflows and processes
- something which is more challenging with point solutions, Excel spreadsheets
and traditional pen and paper.
As we head towards a new era of smarter construction, accessing the right
technologies and real-time insights will transform the UAE's construction
industry.