Research shows “bad data” may have cost the global construction industry $1.85 trillion in 2020. 

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Data and Analytics for Construction

Industry research shows 14% of all rework may have been caused by bad data.

Data is changing the construction industry for the better, but only if properly analyzed.

The true cost of bad data is high

The fast-paced speed of the construction industry means projects are constantly in flux, and decisions have to be made on the spot. When those decisions are made with bad data—that is inaccurate, incomplete, inaccessible, inconsistent, or untimely data—it leads to bad outcomes.

Our research shows that the cost of bad data for a contractor who performs $1 billion in total revenue could be as high as $165 million, including $7.1 million in avoidable rework.

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Learn how to use analytics & reporting effectively within your business

With a formal strategy, data is no longer a source of anxiety. It becomes an incredible asset. Good data will help you make informed decisions, reduce risk, and increase profits. Read the report to learn how to create your own data strategy, including actionable steps that will quickly improve how your business manages data.

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FMI Construction Report