Harnessing the Data Advantage in Construction
Get the Competitive Advantage in Construction With Data.
Read or download the FMI report to emerge as a leader in construction and use data to your competitive advantage.
What people are saying about their relationship with data:
The volume of available project data has doubled in the last 3 years
One third of all poor decisions were made as a result of bad data
But an alarming number (30%) shared that over half of their data is bad
The Cost of Bad Data is High
Global gross domestic product (GDP) in 2020 was $84.5 Trillion ...and construction accounted for 13.2% of the Global GDP in 2020, roughly $11.15 Trillion ...but Bad Data may have cost the global construction industry $1.848 Trillion in 2020.
Additionally...bad data may have caused 16% of all construction rework globally in 2020* ...bringing a rework cost of $88.69 Million worldwide.
What does it mean for me?
The total cost of bad data for a contractor with $1 Billion in annual revenue:
could be as high as $165M, including $7.1 Million in avoidable rework directly caused by bad data.