Real Time Data

What is Real Time Data? Why Real Time Information is Essential in the Field

What is Real-Time Data? Why Real Time Information is Essential in the Field

 

Real-time data (RTD) is information that is delivered immediately after collection. There is no delay in the timeliness of the information provided.”

Without real-time data in the construction field, firms are left with inconsistent, inaccurate data and guesswork to accomplish the project. This leads to poor decision-making based on outdated or irrelevant information. Misinformation is a slippery slope for the project manager, as one tiny mistake can set off a chain reaction that can be catastrophic for the profitability of a project.

 Road sign that says "the next big thing"

 Here are some reasons why real-time information is essential in the field:

 

 

Boosts productivity

The immediacy of real-time information reduces turnover and bottlenecks in production that come from slow information flow or decision-making. By getting rid of this unproductive time, a construction team will be able to get more work done in the workday.

 

Saves money

Firms that use pen and paper for their reporting will often have a person whose job is to do just that. By switching to a real-time information technology solution, the firm will not only save on employee wages, but also on lowering travel needs and reducing the need for rework. Real-time information will also allow the project manager to more accurately track ROI by enabling the project manager to follow project costs and flow of resources. This transparency of information causes fewer miscommunications and oversights. Real-time information also means improved communication. This communication will create a better understanding of each project as a whole, which will lead to better decisions made by all stakeholders.

 

Increases accuracy

Inaccurate data can lead to bottlenecks in production and lurking mistakes that hurt the bottom line. Construction firms can avoid this inevitable human error by implementing a technology that allows information to be automatically created, or inputted and shared in real-time. Construction technology  prevents the inevitable human errors that occur when information is being manually entered and passed down throughout the system.

 

Saves time

Not only does construction technology provide everyone with real-time information, but it saves firms time by keeping the worker on the jobsite to record data.  It also saves the subcontractor from having to redo tasks that were based on inaccurate historical data (or old plans).

 

Improves decision-making and crisis management

When something goes wrong on the construction site, workers want immediate information from supervisors and managers. This immediate flow of communication and information is not possible without a mobile technology in place.

 

Once the communication reaches the construction manager, real-time data will allow him or her to make an informed decision and offer helpful insights to the team members based on the most accurate and up-to-date data. Therefore, these decisions are more precise and result in less rework and fewer mistakes.

 

Immediate resolution of problems

Real-time information is of particular importance for the monitoring of construction projects. Control mechanisms occur at every step of the process and requires having the most updated information to be useful. By having real-time information at your fingertips, the project manager will be able to notice mistakes and fix them before they cause catastrophic issues.

 

Conclusion

The construction firm must function like a well-oiled machine. This means that everybody must be on the same page at any given time, and be ready to react to unanticipated events. Real-time information makes this possible by making it accessible to all team members at any given time while also expediting the flow of communication.

Learn More

 

Subcontractor Software Demo

Posted in Construction Software.