Using Data to Set Your Facility Apart From the Competition
Traditional construction companies rely heavily upon historical cost, schedule, and material databases to estimate project budgets and timelines. However, this data only offers fragmented insights throughout the nuanced sports facility construction process. It is in the understanding of peer facilities from a design and construction lens that is compelling—their successes, failures, opportunities, and deficiencies. This can be the differentiator that sets a facility apart from the competition.
Data Every Step of the Way
By leveraging market data and construction insights, stakeholders can make sound business decisions that optimize a facility’s programming and positively impact ROI. Data encompassing socioeconomic features, consumer behavior, financing and even weather provide valuable benchmarking and project planning insights.
Decisions made within square footage have real business and cost implications. There are different ways to produce a facility to showcase a sports product, and by leveraging facility intelligence that analyzes how square footage is used in combination with robust cost estimating, stakeholders can make astute decisions for the league, community and business.
Early recognition of cost savings and efficiencies identified across the most expensive scopes of construction work can allow teams to be more opportunistic in scope and budget planning. Efforts can result in a more efficient venue (with reduced construction costs) while still maintaining core elements important to project stakeholders.
Digging into the Analytics
Learn more about our data analysis efforts in action in our recent articles.
The Future of Data Analysis
From feasibility studies to pro formas to cost models, there’s no shortage of data to help guide the sports facility development process. While this information provides snapshots of a prospective sports venue, it often remains narrowed in scope. Mortenson’s contemporary approach to data analysis includes a supplemental layer of market data that bridges the gap between feasibility consultants, design firms, and construction partners, connecting the “data dots” to provide a more accurate glimpse into a facility’s projected performance and return on cost.Learn More Download the Article
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Our continued advancement and application of a data-centric approach has cultivated a new perspective in sports construction management that will impact sports venues for years to come. Contact us to learn more about our data analysis program.