To what extent is the construction industry utilizing the benefits offered by data analysis?

Abstract

Data trend analysis refers to the concept of collecting information and data to attempt to spot a pattern, or prevailing trend, in the information which occurs over time. Trend and data analysis provides adequate insight to learn from past performance, facilitate an accurate picture of current conditions, and provide a proper perspective to guide action and future performance for each project and the company. (Henderson, 2004; Bausman, 2003 ) Failure of construction companies is common, for large and small companies alike it’s a challenge to survive, let alone thrive. The objective of this treatise is to investigate to what extent is the construction industry utilizing the benefits offered by data analysis? The research will achieve this by first understanding the concept of data analysis, then proceed with studying the manner in which construction entities utilize data analysis and finally how it is used by the whole Built Environment.