Did you know that benchmarking in construction involves using technology to collect and analyze construction data to gain insights and improve processes. However, there are gaps and challenges in the current data collection and analysis practices. Many contractors struggle with standardization and consistent methods, leading to inconsistent and inaccurate data. The lack of clarity and understanding of standardized data inputs also hinders benchmarking efforts. To overcome these challenges, contractors can focus on specific areas, evaluate and implement software solutions, identify and address barriers to implementation, aggregate data into a single source, consider hiring data and process specialists, and gain support from stakeholders by showcasing successful examples. Data is the key that will allow the construction industry to achieve predictability, improve quality, and ultimately enhance the industry’s reputation.
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