FMI Corporation, a provider of management consulting and investment banking services to engineering and construction, infrastructure and the built environment, is pleased to announce the release of its latest research report “Big Data = Big Questions for the Engineering and Construction (E&C) Industry.” In this white paper, the authors discuss some of the most challenging aspects of big data usage, explain the opportunities that present themselves when big data and analytics are properly implemented, and show the long-term power of utilizing big data as a business tool for E&C firms.
Jay Snyder, FMI’s technology practice leader and one of the authors of the white paper, states, “Using the recommendations in this white paper, E&C companies can more effectively leverage their big data without having to make a big investment in labor, equipment or devices. Its use is becoming commonplace among organizations that want to outperform their peers and rise to the top in their industries. In most industries, existing competitors and new entrants alike will use the strategies resulting from the analyzed data to compete, innovate and capture value.”
Key statistics include:
- 96% of all data goes unused in the E&C industry.
- 13% of E&C working hours are spent looking for project data and information.
- 30% of E&C companies are using applications that don’t integrate with one another.
- Only 8% of E&C firms have what they call real-time, full project management information systems that allow for dashboard reporting.
To access FMI’s big data white paper, please click here.