Engineers turn to Predictive Analytics in 2014

Considering the rise of Big Data over the past few years, it stands to reason that extracting actionable information from that data has also become more relevant. Enter the use of predictive analytics, a growing trend noted for 2014.

While predictive analytics holds importance in many industries, it needs more applications in the world of engineering and construction. While general data analytics attempts to make business sense of the past, its predictive brother analyzes that information looking more to the future.

Leveraging Predictive Analytics in Construction Engineering

Companies — no matter their industry — use predictive analytics to manage risk, improve ROI, and to forecast patterns in customer activity. The retailer Target used the technique to grow sales to certain consumer demographics. This success and others combined to make the Data Scientist — someone able to find useful patterns within data — one of the hottest current professions in information technology.

How does predictive analytics apply to construction and engineering? Dan Kieny, vice president and global director of consulting and knowledge for construction consulting firm, MWH Global, feels the industry needs to observe other business sectors and see their success from using data analytics.

“To increase data assets and the ability to build useful models, data collection must to become part of everyone’s job. At MWH, we put the iPad in the field to collect data. We codify processes in software to use data, to ensure data quality, and to test the applicability of analysis,” said Kieny.

Ultimately, leveraging analytics allows firms in the engineering and construction fields to predict trends and ultimately serve their customers more efficiently. Kieny feels that companies in this sector that don’t start using analytics are at a competitive disadvantage. “If you’re caught flat-footed in the E&C industry and you’re not looking at smart ways to use data analytics and predictive models, companies that are moving quickly will take your market share,” said Kieny.

If using predictive analytics in engineering and construction intrigue you, schedule some time with The Talley Group. As one of the leading engineering staffing agencies in the Northwest United States, they have the knowledgeable recruiters on hand to ensure you stay challenged in your career. Talk with them today!