Predictive analytics - Revision history

Designing Buildings at 06:20, 9 October 2020

2020-10-09T06:20:27Z

← Older revision		Revision as of 06:20, 9 October 2020
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	= Introduction =		= Introduction =

−	Analytics is a ~~method which uses~~ logical analysis to interpret large quantities of data ~~to help with predictions and decision making. The analysis of data may include discerning trends and patterns~~, ~~their interpretation~~ and ~~communication~~.	+	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.
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−	~~Analytics~~ is ~~therefore~~ the link between ~~the~~ data and making ~~informed decisions. Organisations~~ can ~~use analytics to gain~~ a predictive intelligence ~~that can~~ help shape ~~their~~ future plans.	+

	= What is predictive analytics? =		= What is predictive analytics? =

−	Thanks to integrated software programmes, machines can ~~be enabled to~~ perform some tasks intelligently, thinking and working in a similar way to natural intelligence. This ability ~~of machines to act in this way~~ is called artificial intelligence (AI) or machine intelligence.	+	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 ~~for~~ the future. Based on existing data, predictive analytics identifies patterns - both positive and negative - to uncover relationships and trends that can ~~make~~ an impact on the success or failure of a project.	+	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.

	= Examples of predictive analytics =		= Examples of predictive analytics =

−	Predictive analytics can be used to identify risk and streamline construction ~~workflow processes~~. 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 ~~equipment better~~.	+	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.
−		+
−	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 ~~proper~~ quantity of a specific material that will be needed ~~to complete~~ a ~~project. It can also help to improve~~ supply chain management by ~~predicting~~ where and when materials should be allocated ~~in specific locations~~.	+	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.

	= Related articles on Designing Buildings Wiki =		= Related articles on Designing Buildings Wiki =

Editor at 19:01, 8 October 2020

2020-10-08T19:01:43Z

← Older revision		Revision as of 19:01, 8 October 2020
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	= Introduction =		= Introduction =

−	Analytics is a method which uses logical analysis to interpret large quantities of data to help with ~~prediction~~ and decision making. The analysis of data may include discerning trends and patterns, their interpretation and communication. Analytics is therefore the link between the data and making informed decisions. Organisations can use analytics to gain a predictive intelligence that can help shape their future plans.	+	Analytics is a method which uses logical analysis to interpret large quantities of data to help with predictions and decision making. The analysis of data may include discerning trends and patterns, their interpretation and communication.
		+
		+	Analytics is therefore the link between the data and making informed decisions. Organisations can use analytics to gain a predictive intelligence that can help shape their future plans.

	= What is predictive analytics? =		= What is predictive analytics? =
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	Thanks to integrated software programmes, machines can be enabled to perform some tasks intelligently, thinking and working in a similar way to natural intelligence. This ability of machines to act in this way is called artificial intelligence (AI) or machine intelligence.		Thanks to integrated software programmes, machines can be enabled to perform some tasks intelligently, thinking and working in a similar way to natural intelligence. This ability of machines to act in this way is called artificial intelligence (AI) or machine intelligence.

−	~~Closely~~ linked to machine learning~~, artificial intelligence (AI)~~ and data mining~~, predictive analytics is a category of data analytics~~ that gathers information about past events to make predictions for the future. Based on existing data, predictive analytics identifies patterns - both positive and negative - to uncover relationships and trends that can make an impact on the success or failure of a project.	+	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 for the future. Based on existing data, predictive analytics identifies patterns - both positive and negative - to uncover relationships and trends that can make an impact on the success or failure of a project.

	= Examples of predictive analytics =		= Examples of predictive analytics =

Editor at 18:59, 8 October 2020

2020-10-08T18:59:25Z

← Older revision		Revision as of 18:59, 8 October 2020
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	= Introduction =		= Introduction =
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	= Related articles on Designing Buildings Wiki =		= Related articles on Designing Buildings Wiki =

		+	* Artificial intelligence.
		+	* ConTech.
		+	* Data analytics.
	* Data and behaviours in construction		* Data and behaviours in construction
	* Innovation in engineering and construction, a sleeping sector awakens in Davos		* Innovation in engineering and construction, a sleeping sector awakens in Davos
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	* Predictive Analytics Strategic Council, [https://pasc.ai/wp-content/uploads/PASC-Whitepaper_-Applying-Predictive-Analytics-in-Construction_FINAL.pdf Applying predictive analytics in construction].		* Predictive Analytics Strategic Council, [https://pasc.ai/wp-content/uploads/PASC-Whitepaper_-Applying-Predictive-Analytics-in-Construction_FINAL.pdf Applying predictive analytics in construction].
		+
		+	[[Category:DCN_Definition]] [[Category:DCN_Research,_Development_and_Innovation]] [[Category:Definitions]] [[Category:Research_/_Innovation]] [[Category:Construction_management]] [[Category:Cost_/_business_planning]]

Editor: Created page with "File:CrystalballBrighton.jpg = Introduction = Analytics is a method which uses logical analysis to interpret large quantities of data to help with prediction and decision m..."

2020-10-08T18:56:51Z

Created page with "File:CrystalballBrighton.jpg = Introduction = Analytics is a method which uses logical analysis to interpret large quantities of data to help with prediction and decision m..."

New page

[[File:CrystalballBrighton.jpg]]

= Introduction =

Analytics is a method which uses logical analysis to interpret large quantities of data to help with prediction and decision making. The analysis of data may include discerning trends and patterns, their interpretation and communication. Analytics is therefore the link between the data and making informed decisions. Organisations can use analytics to gain a predictive intelligence that can help shape their future plans.

= What is predictive analytics? =

Thanks to integrated software programmes, machines can be enabled to perform some tasks intelligently, thinking and working in a similar way to natural intelligence. This ability of machines to act in this way is called artificial intelligence (AI) or machine intelligence.

Closely linked to machine learning, artificial intelligence (AI) and data mining, predictive analytics is a category of data analytics that gathers information about past events to make predictions for the future. Based on existing data, predictive analytics identifies patterns - both positive and negative - to uncover relationships and trends that can make an impact on the success or failure of a project.

= Examples of predictive analytics =

Predictive analytics can be used to identify risk and streamline construction workflow processes. 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 equipment better.

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 proper quantity of a specific material that will be needed to complete a project. It can also help to improve supply chain management by predicting where and when materials should be allocated in specific locations.

= Related articles on Designing Buildings Wiki =

* 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.

= External resources =

* Predictive Analytics Strategic Council, [https://pasc.ai/wp-content/uploads/PASC-Whitepaper_-Applying-Predictive-Analytics-in-Construction_FINAL.pdf Applying predictive analytics in construction].