Clearly, it is fine to narrow down a set of options on a rational basis.
Additionally, the further the data gets from its intended use, the less useful it is.This is why digitising planning makes quite a good use case because, in theory, it’s a linear process..
The next issue with data is governance, and the question of whether someone is allowed to share particular data.Here we see issues like cybersecurity and GDPR coming into play, presenting a list of complex and expensive regulations to navigate.Finally, there’s the issue of transacting data.
While on the one hand someone might worry about opening themselves up to liability by providing data, they might also be wary of someone else using their data to achieve financial gain, and missing out on the opportunity themselves.Sharp says the situation has led to a nervousness and immaturity surrounding data, resulting in a tendency to either refuse to share data, or a lack of control for the end user.
What we need, she says, is a much more mature set of transaction mechanisms.
We need agreements, possibly establishing the rules of data use, or how any profits will be shared.Staying focused: collaboration, disruption & diversification.
The benefits of transforming construction will be enormous, but it won’t happen overnight.However, as long as we have a clear and compelling vision, and are all aiming for the same end goal, companies will be able to plot their own path to reach it.
The journey will be important and it must be handled properly.Industry must have the capability and capacity to deliver new solutions.
(Editor: Magnetic Watches)