Predictive analytics
Contents |
[edit] Introduction
Analytics is a form of logical analysis that can be used to interpret large quantities of data, for monitoring, assessment and prediction. It is the link between data and informed decision making and can be used as a form of predictive intelligence to help shape future plans.
[edit] What is predictive analytics?
Thanks to integrated software programmes, machines can perform some tasks intelligently, thinking and working in a similar way to natural intelligence. This ability is called artificial intelligence (AI) or machine intelligence.
Predictive analytics is a category of data analytics linked to AI, machine learning and data mining that gathers information about past events to make predictions about the future. Based on existing data, predictive analytics identifies patterns - both positive and negative - to uncover relationships and trends that can have an impact on the success or failure of a project, process or business.
[edit] Examples of predictive analytics
Predictive analytics can be used to identify risk and streamline construction workflows. This form of construction technology (ConTech) can use real-time and historical data as well as weather and environmental information to help construction companies use their resources more efficiently. For example, construction firms can prevent unscheduled downtime or make machinery last longer while also improving equipment dispatching and planning.
Predictive analytics can also help companies manage resources by forecasting the exact quantity of a specific material that will be needed at a certain time, improving supply chain management by determining where and when materials should be allocated.
[edit] Related articles on Designing Buildings Wiki
- Artificial intelligence.
- ConTech.
- Data analytics.
- Data and behaviours in construction
- Innovation in engineering and construction, a sleeping sector awakens in Davos
- Shaping the Future of Construction: Inspiring innovators redefine the industry
- Six buildings that are revolutionising the construction industry.
[edit] External resources
- Predictive Analytics Strategic Council, Applying predictive analytics in construction.
Featured articles and news
Plumbing and heating systems in schools
New apprentice pay rates coming into effect in the new year
Addressing the impact of recent national minimum wage changes.
EBSSA support for the new industry competence structure
The Engineering and Building Services Skills Authority, in working group 2.
Notes from BSRIA Sustainable Futures briefing
From carbon down to the all important customer: Redefining Retrofit for Net Zero Living.
Principal Designer: A New Opportunity for Architects
ACA has launches a Principal Designer Register for architects.
A new government plan for housing and nature recovery
Exploring a new housing and infrastructure nature recovery framework.
Leveraging technology to enhance prospects for students
A case study on the significance of the Autodesk Revit certification.
Fundamental Review of Building Regulations Guidance
Announced during commons debate on the Grenfell Inquiry Phase 2 report.
CIAT responds to the updated National Planning Policy Framework
With key changes in the revised NPPF outlined.
Councils and communities highlighted for delivery of common-sense housing in planning overhaul
As government follows up with mandatory housing targets.
CIOB photographic competition final images revealed
Art of Building produces stunning images for another year.
HSE prosecutes company for putting workers at risk
Roofing company fined and its director sentenced.
Strategic restructure to transform industry competence
EBSSA becomes part of a new industry competence structure.
Major overhaul of planning committees proposed by government
Planning decisions set to be fast-tracked to tackle the housing crisis.
Industry Competence Steering Group restructure
ICSG transitions to the Industry Competence Committee (ICC) under the Building Safety Regulator (BSR).
Principal Contractor Competency Certification Scheme
CIOB PCCCS competence framework for Principal Contractors.
The CIAT Principal Designer register
Issues explained via a series of FAQs.