ADOPTION OF TECHNOLOGY

them decide if a project is worth bidding on, its cost and contingencies.

Big data has made a “great or considerable” positive impact for 40 per cent of the companies currently using it. However, 46 per cent say the extent to which it’s impacted their organization has been moderate or slight, and the remaining 14 per cent say it hasn’t significantly impacted their organization at all.

This begs the question as to the quality of the data that’s collected and fed into AI applications, and whether big data has in fact been truly understood or implemented.

is another. In the world of modern construction, technology can help to attract young workers who have grown up in a digitally interconnected technological world and want to make an impact in the greening of industry.

TECHNOLOGY ADOPTION: WHAT’S IN YOUR TOOLKIT?

The construction companies surveyed by KPMG intend to invest significantly in technology and digital transformation.

Big Data

You can’t digitally transform your organization without a fundamental data transformation. In an industry run on slim profit margins, companies that have a better handle on their data and can trust its veracity and quality will stand a far greater chance of delivering projects on or ahead of time, on or below budget, and delivering superior returns compared to their competitors.

Big data can reduce project costs and timelines, identify safety issues and material wastage, improve sustainability, and increase efficiency. Globally, many construction companies are using realtime, cloud-powered analytics of large and unstructured datasets.

Through predictive analytics, machine learning (ML) and artificial intelligence (AI), companies are better able to analyze historical material, time, personnel spend, and evaluate a project’s risk profile to help

Only 42 per cent of respondents have designed and implemented cloud computing to connect data sources and share information across project teams, and 42 per cent say their organization’s systems and processes are integrated to a “great or considerable extent.” Just 36 per cent say their corporate functions and internal departments share data effectively and as many as six in 10 (61 per cent) acknowledge that they are experiencing “significant issues” with data siloing.

Less than half (45 per cent) of survey respondents say they are using “data analytics effectively to make business decisions” and another 29 per cent leverage data analytics to a “moderate extent.” Fewer than half (only 44 per cent) use online document management or data repository tools with their clients and project teams to a “great or considerable extent.” About a third (34 per cent) are using ML and automation “to a great or considerable extent” on administration-type processes.

DEMAND-DRIVEN SUPPLY CHAIN

Demand-driven supply chain (DDSC) integrates links along the supply chain to anticipate demand and enable faster and more cost-effective delivery of materials and services. It requires visibility and transparency in the supply chain. While DDSC has been leveraged for years in the manufacturing industry, the pandemic highlighted the importance of active supply chain management in the construction sector.

Investments in new technologies intersect with DDSC to enhance supply chain management accuracy and effectiveness.