How Predictive Data Is Revolutionizing Preconstruction Planning

By Sherman Wong Sr., Engineering News-Record

Preconstruction planning has been, and continues to be, one of the most challenging aspects of the building lifecycle. Thanks to modern data science and predictive analytics, those involved in the construction planning phases are now able to supplement historical data with reliable projections of future costs. Predictive cost data was developed by using a hybrid methodology that combines classical econometric techniques with contemporary data mining methodology to address the shortcomings of traditional forecast data."

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