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FMI Construction Report

Data and analytics are the new competitive advantage in construction

Companies with a clear strategy for data analytics and reporting are poised to harness data to drive better decisions and project outcomes. Companies that don’t risk losing significant margins in profits to rework. Read our industry report “Harnessing the Data Advantage in Construction” to learn more.

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

Our research shows that…

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The volume of available project data has doubled in the last 3 years

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One third of poor decisions were made as a result of bad data

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Bad data may have cost the global construction industry over $1.84 Trillion in 2020

The true cost of bad data is high

The face-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.

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.

Get rid of bad data in your business. Read our industry report “Harnessing the Data Advantage in Construction.”

FMI LogoMade in Proud Partnership with FMI“Harnessing the Data Advantage in Construction” was made in partnership with FMI from a global survey of over 3,900 construction professionals on their data strategies and best practices.