How Analytics can Drive Smarter Engineering and Construction Decisions
Post date
January 24, 2019
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By Garo Hovnanian, Kevin Kroll, and Erik Sjödin, McKinsey and Company Insights.
The construction business faces a major productivity challenge. While labor productivity in the global economy has increased by an average of 2.8 percent a year over the past two decades, and in manufacturing by an impressive 3.6 percent, the construction sector has registered a mere 1 percent annual improvement. As the capital-project partners responsible for execution, engineering and construction (E&C) firms are well positioned to drive changes that can help close this troubling gap.To do so, some are turning to data-driven solutions that have already revolutionized many other corners of the economy."