Title A Study on the Strategy of the Use of Big Data for Cost Estimating in Construction Management Firms based on the SWOT Analysis
Authors Kim, Hyeon Jin ; Kim, Han Soo
DOI https://dx.doi.org/10.6106/KJCEM.2022.23.2.054
Page pp.54-64
ISSN 2005-6095
Keywords Construction Management Firms; Cost Estimating; Big Data; SWOT Technique; Strategy for Big Data Implementation
Abstract Since the interest in big data is growing exponentially, various types of research and development in the field of big data have been conducted in the construction industry. Among various application areas, cost estimating can be a topic where the use of big data provides positive benefits. In order for firms to make efficient use of big data for estimating tasks, they need to establish a strategy based on the multifaceted analysis of internal and external environments. The objective of the study is to develop and propose a strategy of the use of big data for construction management(CM) firms’ cost estimating tasks based on the SWOT analysis. Through the combined efforts of literature review, questionnaire survey, interviews and the SWOT analysis, the study suggests that CM firms need to maintain the current level of the receptive culture for the use of big data and expand incrementally information resources. It also proposes that they need to reinforce the weak areas including big data experts and practice infrastructure for improving the big data-based cost estimating.