Are you looking to add Construction Data Analytics to your arsenal of tools? Maybe for your business or personal use only, whatever it is – it’s always a good idea to know more about the most important Construction Data Analytics statistics of 2024.
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Best Construction Data Analytics Statistics
â° Use “CTRL+F” to quickly find statistics. There are total 136 Construction Data Analytics Statistics on this page đConstruction Data Analytics Benefits Statistics
- Some of the benefits of big data analytics in construction include Material waste and remedial work account for 35% of construction costs. [0]
Construction Data Analytics Usage Statistics
- 14% of construction companies want to increase their online analytics usage. [0]
Construction Data Analytics Market Statistics
- The Dodge Momentum Index, a leading indicator on nonresidential building activity, finished 2020 4.8% below where it was at the end of 2019 â a gap that would have been much wider if not for robust activity in the warehouse market. [1]
- [Autodesk & Dodge Data & Analytics] -Click to Tweet 13.6%compound annual growth in the construction robot market is predicted between 2021. [2]
Construction Data Analytics Software Statistics
- 53%of large general contractors are utilizing software to manage safety and/or inspections on at least half of their projects. [2]
- 79%of contractors are using software to capture data and manage information. [2]
- 60%of general contractors and trades feel using software to manage safety and/or inspections during construction is of high value to improving this process. [2]
Construction Data Analytics Latest Statistics
- The U.S. economy added 589,000 new jobs in May, a solid improvement over the 278,000 jobs added in April, and the U.S. unemployment rate fell to 5.8%. [1]
- While last year was unique for so many reasons, one way it was not unique is that the number of babies born in the U.S. fell 4% in 2020 to 3,605,201. [1]
- The birth rate also fell 4% to its lowest level since 1979. [1]
- Furthermore, the number of births and birth rate are unlikely to pull a sudden reversal in 2021 as the economy begins to re. [1]
- GDP Grows 6.4 Percent in First Quarter. [1]
- By Kim Kennedy, Director of Forecasting Dodge Data & Analytics HAMILTON, NJ APRIL 30, 2021 As more states began to reopen during firstquarter 2021, anticipated pent up demand showed up in force and the economy grew at an annualized 6.4%. [1]
- Consumer spending, in fact, grew at an annualized 10.7% in the first quarter. [1]
- Fixed business investment in equipment (up at an annualized 16.7%) and business investment in intellectual property products (up 10.1%). [1]
- Business investment in nonresidential structures, however, saw its sixth consecutive quarterly decline with the first quarter’s 4.8% drop. [1]
- By contrast, investment in housing saw only one quarter of decline (a sharp 35.6% drop in the second quarter of 2020). [1]
- Growth slowed to a still hot 10.8% in the first quarter. [1]
- Construction starts fell 9% to $778 billion but would have been down a total of 17% if single family construction had not provided a significant boost. [1]
- In 2020, nonresidential building renovations totaled $61 billion, accounting for 25% of all nonresidential building starts. [1]
- Over the last decade, utility scale renewable projects have accounted for almost 60% of all electric generation starts. [1]
- Even without support, data center construction starts have totaled nearly $30 billion since 2017 and are likely to remain robust. [1]
- Still, construction has added back less than 80% of the jobs lost in March and April. [1]
- According to the Bureau of Labor Statistics, the U.S. economy added 245,000 jobs in November â a considerable step back from the revised 610,000 jobs added in October. [1]
- Still, the unemployment rate dipped to 6.7%. [1]
- The construction sector has now added back nearly 80% of the jobs lost during March and April, while total nonfarm employment has added back just under 60% of the jobs lost. [1]
- What is the passing grade for the course?An overall average for all assignments of 75% is required to pass the course. [3]
- Do I need to achieve 75% on each assignment?No. [3]
- , you need an average grade for all assignments of 75%. [3]
- This means you can do poorly or miss an assignment as long as you do well enough on other assignments to achieve 75% overall. [3]
- 5%increase in engineering and construction spending levels compared to 2021. [2]
- [Research & Markets] -Click to Tweet 12%increase in total construction across 2021 compared to 2020. [2]
- Predicted35%global growth in next 10 years. [2]
- 58%of owners said theyâve used or plan to use designbuild, moving away from traditional designbid. [2]
- [FMI] -Click to Tweet Designbuild projects are completed102%faster than traditional designbid. [2]
- 23%of firms report they are taking steps to improve jobsite performance with lean construction techniques, tools like BIM, and offsite prefabrication. [2]
- 4.7%compound annual growth in modular construction by 2026 is predicted. [2]
- [Research & Markets-Click to Tweet About90%of firms using prefabrication report improved productivity, improved quality, and increased schedule certainty compare to traditional stick. [2]
- 14%of trades report prefabricating more than50%of their work in the shop versus field. [2]
- 72%of firms say projects have taken longer than anticipated.[AGC]. [2]
- -Click to Tweet 46%of firms report a project was postponed in but was rescheduled, but 32% had projects postponed or canceled and has not been rescheduled.[AGC]. [2]
- 44%of firms are putting longer completion times into their bids. [2]
- Tweet Over50%of engineering and construction professionals report one or more underperforming projects in the previous year. [2]
- 69%of owners say poor contractor performance is the single biggest reason for project underperformance. [2]
- 68%of general contractors reported experience problems âgetting off the jobâ on at least25%of their projects. [2]
- 66%of general contractors are carrying added costs from overtime/second shifts on at leastthree quartersof their projects due to schedule slippage, with50%of them needing to extend the project end date. [2]
- [Autodesk & Dodge Data & Analytics] -Click to Tweet Just25%of projects came within10%of their original deadlines in the past3years. [2]
- And only31%of all projects came within10%of the budget in the past3years. [2]
- Large projects typically take20%longer to finish than scheduled and are up to80%over budget. [2]
- 98%of megaprojects become delayed or over budget. [2]
- 77%of megaprojects around the globe are 40% or more behind schedule. [2]
- 6%increase in wage and salaries for construction workers in 2021. [2]
- to Tweet 84%of firms report construction costs have been higher than anticipated.[AGC]. [2]
- -Click to Tweet 14.1%increase in construction building material November 2021. [2]
- 53%of contractors in the U.S. feel that time constraints/ urgency of decisions presented the greatest risk to decision making. [2]
- 37%of construction firms say their companies missed budget and/or scheduled performance targets as a result of COVID. [2]
- 25%of all projects grow past scope of work in the field by over 30%. [2]
- Average of35%of all construction projects will have a major change. [2]
- Up to30%of initial data created during design and construction phases is lost by project closeout. [2]
- 82%of owners feel they need more collaboration with their contractors. [2]
- 78%of engineering and construction companies believe that project risks are increasing. [2]
- 43%of construction firms prioritize immediate financial goals over organizational resilience. [2]
- 14%of all rework in construction globally is caused by bad data. [2]
- Up to70%of total rework experienced in construction and engineering products are a result of design. [2]
- 52%of rework is caused by poor project data and miscommunication. [2]
- 9%of total project cost is closer to the actual total cost of reworkâconsidering both direct and indirect factors combined. [2]
- Between2%and20%of total costs is the estimated amount of rework, which has a negative impact on a project schedule. [2]
- 62%of contractors report high levels of difficulty finding skilled workers. [2]
- 74%of contractors say they are asking skilled workers to do more work. [2]
- 72%of contractors report a challenge in meeting project schedule requirements. [2]
- 60%of contractors are putting in higher bids for projects [U.S. Chamber of Commerce]. [2]
- 44%of firms indicated labor shortages caused them to lengthen completion time for projects already underway. [2]
- 73%of firms report it will be more challenging to fill hourly craft positions. [2]
- [AGC] -Click to Tweet Percentage of young construction workers declined by30%from 2005. [2]
- 40%of construction jobs were lost between 2006 2011 due to the recession. [2]
- 21.4%industry wide turnover rate, making it one of the highest rates of all industries. [2]
- 20%of an individualâs base salary is the average cost of a turnover. [2]
- 29%of firms report investing in technology to supplement worker duties. [2]
- 29%of firms report they are providing incentives and bonuses to attract craft workers. [2]
- 92%of contractors report being at least moderately concerned about their workers having adequate skill levels. [2]
- to Tweet 12.8%U.S. Construction industry is unionized. [2]
- 32.6%of U.S. construction workforce identifies as Hispanic or Latino. [2]
- [TheBureau of Labor Statistics] -Click to Tweet Only13%of construction firms are women owned. [2]
- 56%of high trust construction companies report good turnover rates â saving them up to$750,000annually. [2]
- At high trust companies,4 out of 5projects are for repeat customers, potentially increasing gross margins by2. [2]
- -Click to Tweet High trust construction companies are2Xas likely to be explicit about requests. [2]
- Tweet 43%of high trust construction companies make collaboration central to how they work. [2]
- -Click to Tweet High trust companies are2Xmore likely to have managers that share consistent feedback. [2]
- 45%of construction professionals report spending more time than expected on non. [2]
- 60%of general contractors see problems with coordination and communication between project team members and issues with the quality of contract documents as the key contributors to decreased labor productivity. [2]
- 68%of trades point to poor schedule management as the key contributors to decreased labor productivity. [2]
- -Click to Tweet 50%or more impact on productivity as a result of issues with construction logistics. [2]
- -Click to Tweet 10%impact on productivity as a result of late crew build. [2]
- -Click to Tweet 50%variation in productivity of two groups of workers doing identical jobs on the same site and at the same time. [2]
- This gap in productivity was found to vary by500%at different sites. [2]
- 50%of E&C firms (and33%of project owners). [2]
- Only16%of executives surveyed say their organizations have fully integrated systems and tools. [2]
- Only18%of firms reported consistently using mobile apps to access project data and collaborate. [2]
- 63%of contractors are currently using drones on their projects. [2]
- 37%of contractors expect to adopt equipment tagging by 2024. [2]
- 33%of contractors expect to use wearable technology in the next three years. [2]
- 90.9%of firms report using smartphones on a daily basis for work purposes. [2]
- 62.4%of companies report using mobile devices on the field for daily reporting. [2]
- [JB Knowledge] -Click to Tweet 21.4%of construction firms use 3 or more mobile apps for their projects. [2]
- 95%of all data captured in construction and engineering industry goes unused. [2]
- 19%UK construction firms say that their projects are entirely paper. [2]
- 27.8%of contractors do not bid on projects involving BIM. [2]
- 35.2%of construction firms cite âlack of staff to support the technologyâ as the primary limiting factor to adopting new technology. [2]
- 28%of UK construction firms say that lacking the information they need on site is the single biggest factor impacting their productivity. [2]
- 59%of companies state that their workforce doesnât have the skills needed to work with BIM. [2]
- 56%of construction firms do not have a dedicated R&D budget. [2]
- 75%of respondents stated an increasing need for rapid decision making in the field. [2]
- -Click to Tweet Only36%of firms have implemented a process for identifying bad data and repairing it. [2]
- 14%of all construction rework may have been caused by bad data creating$88.69. [2]
- 60%of contractors rely on one tool. [2]
- 74%of all the multi tool contactors stated that they end up relying on one primary toll to track key processes. [2]
- 58%of contractors are using standardized inputs on at least half of their projects. [2]
- 41%of contractors agreed that non standardized data input leads to inconsistent, inaccurate, incomplete, and unusable data. [2]
- 70%of contractors believe that advanced technologies can increase productivity(78%), improve schedule(75%), and enhance safety(79%). [2]
- [USG + U.S. Chamber of Commerce] -Click to Tweet 52%consider the needs of field staff a top consideration for investing in technology. [2]
- But only28%actually receive feedback from field staff before investing in technology. [2]
- 13 21%)in the Design & Engineering and Construction phases. [2]
- and$0.30.5 trillion (10 17%). [2]
- AI has the potential to increase the construction industryâs profits by71%by 2035. [2]
- And55%report BIM processes reduced the time required for communications. [2]
- 47%of construction firms use thirdparty tools, with around60%leaning on desktop applications and40%using cloud. [2]
- 32%of owners and contractors use internally developed tools. [2]
- Big data increases a businessâs chance of making better strategic decisions by 69%. [0]
- Companies that utilized big data analytics reported an 8% increase in revenue. [0]
- 57% of construction companies want access to consistent financial and project data. [0]
- 97.2% of organizations are investing in big data and AI. [0]
- In fact, the construction and engineering industries accounted for 39% of process related carbon dioxide emissions in 2018. [0]
- She says the University saw a 23 percent increase in teaching credit hours for math and statistics from the 2006â2007 to the 2016â2017 academic year. [4]
- And computer science saw a 266 percent increase. [4]
- This can improve performance and return on hauling spend by up to 15%. [5]
- Tread enables construction companies to gather and analyze operational information to save 30% on dispatching time and costs. [5]
I know you want to use Construction Data Analytics Software, thus we made this list of best Construction Data Analytics Software. We also wrote about how to learn Construction Data Analytics Software and how to install Construction Data Analytics Software. Recently we wrote how to uninstall Construction Data Analytics Software for newbie users. Donât forgot to check latest Construction Data Analytics statistics of 2024.
Reference
- bigrentz – https://www.bigrentz.com/blog/big-data-in-construction.
- construction – https://www.construction.com/.
- autodesk – https://constructionblog.autodesk.com/construction-industry-statistics/.
- edx – https://www.edx.org/course/Data-Science-for-Construction-Architecture-and-Engineering.
- bu – https://www.bu.edu/articles/2018/data-sciences-center/.
- tread – https://tread.io/the-importance-of-data-analytics-in-construction/.
How Useful is Construction Data Analytics
One of the main benefits of construction data analytics is its ability to provide key insights into project performance. By analyzing data from past projects, companies can identify patterns and trends that can help them make more informed decisions in the future. This information can be used to anticipate potential issues, optimize resource allocation, and ultimately, reduce costs.
Additionally, data analytics can help construction companies track project milestones and deadlines more effectively. By implementing tools and software that track progress in real-time, project managers can easily identify any potential delays and take proactive measures to keep the project on track. With the help of this data, teams can better coordinate their efforts, ensuring that each stage of the construction process is completed on time.
Furthermore, data analytics can also be used to improve safety on construction sites. By analyzing accident reports and near misses, companies can identify potential hazards and implement measures to prevent future incidents. With the implementation of smart sensors and wearable technology, real-time data can now be collected on worker movements and location, enabling supervisors to quickly respond to emergencies and ensure the safety of their teams.
Another significant advantage of construction data analytics is its ability to optimize resource utilization. By analyzing data on equipment usage, material costs, and labor productivity, companies can identify areas where resources are being underutilized or wasted. This information can then be used to streamline operations, reduce inefficiencies, and ultimately, improve the overall profitability of the project.
In addition to operational benefits, data analytics can also provide valuable insights into customer preferences and market trends. By analyzing data on customer feedback, demographics, and purchasing behavior, companies can tailor their offerings to better meet the needs of their target audience. This can help companies stay ahead of their competition and foster long-term customer relationships.
Overall, construction data analytics has become an indispensable tool for companies looking to stay competitive in today’s market. By harnessing the power of data, construction companies can make more informed decisions, improve their operational efficiency, enhance safety on-site, and ultimately, deliver better projects to their clients. As technology continues to advance, the possibilities for data analytics in construction are limitless, and companies that embrace this trend are sure to reap the benefits in the long run.
In Conclusion
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