How Machine Learning Can Improve Your Construction ERP Software
With several conferences centered around its transformative potential and every industry expert betting on it as the next big thing, Machine Learning has taken the whole technology world by storm, and rightly so. Machine Learning uses historical data and real-time data feeds to enable a computer to automatically discover insights and predict new examples, aiding companies to find patterns and gain forecasting abilities. No wonder, every industry today is looking to tap into machine learning’s disruptive power. And construction industry is no exception.
In the last few years, we have seen ERP systems emerge as a necessity for today’s construction businesses, addressing its most complex issues. However, coupled with machine learning’s data-driven intelligence, the construction ERP solution promises to drive the next level of efficiency gains. Let’s look at four ways how machine learning integration can power your ERP for construction:
- Strong Forecasting Capabilities: One of the prime rewards of construction ERP solutions integrated with machine learning is highly accurate predictive capabilities. Construction companies need powerful predictive analytics to derive near-exact estimates on project completion timelines, project cost, equipment and labour requirements, etc. A failure in precise estimation leads to project delays and increase in project initial cost shared with customers, which can significantly tarnish the construction company’s reputation. This is where machine learning comes into the picture and brings in a lot of value. Using historical data, machine learning can not only help you predict accurately but also warns you about the factors that may lead to delays or over expenditure. This helps construction companies to be better prepared in advance.
- Streamlined Project Management: On a construction site, a project manager has to deal with several day-to-day issues, such as water leakage, improperly installed window panel, to name a few. In a normal scenario, this requires significant amount of time and coordination from project manager to get these issues resolved. With machine learning integrated into construction ERP software, the project manager gets a digital assistant, which alerts the concerned department in any malfunction or quality issue. Apart from this, it can auto-prioritize these tasks and give a clear idea to the project manager on how much time an issue might take to resolve. These insights will help the project manager to revise work and manpower allocation to keep the project on track.
- Predict Raw Material Requirement: Traditionally, managing raw material has been a huge challenge for construction firms. While construction ERP software addresses this issue effectively, software with in-built machine learning capabilities takes it to another level. By analyzing real-time data and historical data, it helps you figure out when you need to re-purchase a particular raw material. A good construction ERP solution also uses machine learning to suggest vendors for procurement.
- Identify Safety Concerns: Health and safety in construction cannot be taken lightly. An ERP for construction with machine learning capabilities has the potential to identify and prioritize potential safety concerns across the project lifecycle. It identifies high-risk safety behaviors and flags subcontractors or employees that make the same safety errors time and again. These insights help project manager to take a proactive approach towards security rather than responding in a reactive manner.
These examples are actually just the tip of the iceberg; with machine learning integrated into construction ERP solution, the possibilities are actually endless. In fact, analysts are asserting that looking ahead machine learning will be the defining capability that will distinguish modern construction ERP system from the traditional ones. If you are embarking on your construction ERP journey, make sure that the provider you select has the vision to incorporate advanced technologies like machine learning. The key to choose the best construction ERP software is to closely analyze the top leadership team – it should be tech-savvy and firmly focused on technology advancements.
