Concept of Big Data

Big Data was first defined as data sets whose sizes are too large for commonly used
software tools to capture, manage and process within a tolerable elapsed time (Manyika et
al., 2011, Tien, 2013, Waller and Fawcett, 2013). The uniqueness of Big Data is the volume,
velocity and variety, the three Vs (Courtney, 2012, Russom, 2011). The volume refers to the
size of data sets, containing a few terabytes to many petabytes. But it is the variety and
velocity of the generated data that makes the data sets so big. Variety refers to the variety of
sources. In addition, the data are measured and captured in more detail, such a location,
time and metadata, giving both structured and unstructured data sets (Russom, 2011, Waller
and Fawcett, 2013). The velocity of data refers to the speed at which the data is generated,
from being recorded, updated or measured monthly and weekly to more frequent updates
such as daily, hourly or continuously (Courtney, 2012). The access to real time or almost real
time information makes it possible for a company to be much more agile than its competitors
(McAfee and Brynjolfsson, 2012).
Big data is a term that describes the large volume of data both structured and unstructured
that inundates a business on a day-to-day basis. But its not the amount of data thats
important. Its what organizations do with the data that matters. Big data can be analyzed for
insights that lead to better decisions and strategic business moves. Big data is being
generated by everything around us at all times. Every digital process and social media
exchange produces it. Systems, sensors and mobile devices transmit it. Big data is arriving
from multiple sources at an alarming velocity, volume and variety. To extract meaningful
value from big data, you need optimal processing power, analytics capabilities and skills.
The sources of digital data can include retail transactions, security cameras, internally
registered data in the organisation, time-stamps, GPS-tracking, sensor-data from

instrumented machinery and metavalues of documents. The main reason to carry out data
analysis is to derive information from data, knowledge from information, and wisdom from
knowledge. And this is the purpose of Big Data. Big Data can give new information and
knowledge for decision-making. For instance, Big Data can be used to make more precise
predictions, and it follows that better predictions yields better decisions (Jagadish, 2015).
McAfee and Brynjolfsson (2012) found that the more companies characterized themselves
as data-driven, the better they performed on objective measures of financial and operational
results. More and more business activity is digitized, and new sources of information are
available, (McAfee and Brynjolfsson, 2012). This also applies to the construction industry.

Importance of Big Data

Big data analytic concept has changed fundamental paradigm of data analysis and
prediction. Construction industry which seems to be the most conservative industry due to
difficulty in data collecting, analyzing, and predicting is about to develop the advanced
further phase with application of big data analytic methods
The importance of big data doesnt revolve around how much data you have, but what you
do with it. You can take data from any source and analyze it to find answers that enable
a)
b)
c)
d)

Cost reductions
Time reductions
New product development and optimized offerings
Smart decision making

When you combine big data with high-powered analytics, you can accomplish businessrelated tasks such as:
a)
b)
c)
d)

Determining root causes of failures, issues and defects in near-real time.

Generating coupons at the point of sale based on the customers buying habits.
Recalculating entire risk portfolios in minutes.
Detecting fraudulent behaviour before it affects your organization.

Impact of Big Data upon Quantity Surveying Profession

Data Availability
By collecting big data from software applications, instead of using manual methods to
record such data, the data becomes easily and rapidly available afterwards. Using
construction management software and construction estimating software, instead of pen
and paper, are examples. CAD files and software for electronic construction project

workflow management are others. A quantity surveyor no longer has to bring heavy tender
or contract documents as those documents can be viewed in laptop or even smartphones,
anytime, anywhere.
Company performance evaluation
The more data quantity surveyors can access, the more accurately they can gauge their
performance. This includes not only project profitability, but also return on construction
assets, staff productivity/absences, and more. Big Data such as BIM or estimating
softwares provide quantity surveyors with accurate and fast outcomes hence improving his
or her performance.
Better targeted marketing
Big data allows quantity surveyors to refine their marketing; more finely segment their client
base, and better adapt their project bids.
Improved decision-making
For example, with the corresponding big data available, quantity surveyors could see how
construction machinery is being used, giving them insights into better choices between
buying or renting such machines.
Problem prevention
Data sent back to firms by sensors in their assets on construction sites can warn you of
failures before they happen. This lets you intervene or replace machines before
unscheduled downtime starts to play havoc with your construction schedule.