According to the 1967 film “The Graduate,” the future could be summed up on just one word: “plastics.” Today that word would probably be “data.” So why has the construction industry been so slow to adopt digital technology? SoftwareOne’s Jason Dodds walks us through the downsides and the possibilities in his talk for Outlook 2022. Here are a few data points to get the conversation started.
Over the past 50 years, manufacturing productivity has increased 2.5-fold, while labor productivity in construction has remained flat or declined.
According to a COAA study, 63% percent of direct labor on mega-construction projects is spent waiting for materials and equipment, traveling to the area, taking early breaks, and planning how to do the work.
In 2020, bad data cost the global construction industry more than $1.84 trillion, according to a report from Autodesk.
Out of the $625 billion global cost of rework in 2020, 14%, or $88.69 billion, is associated with bad data.