For today’s property developers, recognising the critical role of data in informed decision-making is the number one step to faster value realisation.
Accessing, sharing, and retaining data during the lifecycle of a construction project as well as post-project can help to reduce operational costs and optimise the lifespan of your asset.
Data may sound like something that stands alone, but in fact it is the information that underpins an entire construction project—from market trends to property performance metrics, customer feedback, to project communication and information.
Being able to effectively harness data not only for operational purposes but also to provide insights and support informed decision-making is critical to a successful, cost-effective construction project.
A Common Data Environment (CDE) is a central hub for project information, helping to streamline collaboration across multidisciplinary teams by providing a single source of approved project data.
Whether you’re using a server, extranet or file-based system, a great cloud-based CDE will facilitate efficient data sharing across project stakeholders in multiple locations.
The key capabilities of a CDE include accessing a shared project workspace for all team members across geographies, controlled access to stored information, a structured approval process to regulate data flow, and mechanisms for tracking and managing communications.
Artificial intelligence (AI) is the buzzword of every industry right now, and for good reason. Smart businesses are leveraging its power to skyrocket success of teams, communications and processes across projects.
According to a recent report by Deloitte, 33 per cent of construction companies will be using AI in the near future to identify profitable projects.
And the first step to using AI is to harness data for insights and to adopt a CDE.
Ultimately, a robust CDE establishes the necessary infrastructure for leveraging AI technologies to their full potential, driving innovation, efficiency and strategic decision-making in property developments.
Further to this, by harnessing AI algorithms developers can analyse vast amounts of data to gain valuable insights into market trends, property demand and consumer preferences, helping them to make better-informed strategies and decisions throughout the development lifecycle.
One of Malaysia’s largest conglomerates, Sunway Group (Sunway) has a heavy focus on property and township development.
Its construction arm, Sunway Construction, is Malaysia’s largest pure play contractor.
Sunway uses Autodesk Construction Cloud (ACC) as its CDE to store official documents and information across all its projects as a central source of information for official documents and information, improving project management and data accessibility.
The advantages of having this CDE in such a large organisation are evident.
According to Sunway, everyone is on the same page and accessing the same list of issues because the information is stored in a cloud environment.
Inconsistencies, rework and misunderstandings are minimised for the Sunway team, saving time and frustration.
All stakeholders can see how they fit into the bigger picture and staff can be confident they are working off the latest project version and accept or reject updates while adding trackable comments. This is providing faster value realisation for Sunway’s projects.
Download the complimentary eBook today to learn more.
The Urban Developer is proud to partner with Autodesk to deliver this article to you. In doing so, we can continue to publish our daily news, information, insights and opinion to you, our valued readers.
