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Minimizing Data Loss in the Age of Business Information Modelling, by VEERUM

Humanity is producing more data than ever before: an extraordinary 2.5 quintillion bytes of data every single day1. The ability to process large amounts of data and extract actionable insights has revolutionized the way we work. With the volume of data increasing, organizations face the challenges of heavily siloed data, unlinked and outdated data sets, and data loss. The inability to tackle new infrastructure projects without accurate, accessible data can ultimately lead to financial losses, reputational damage, safety hazards, and project overruns.

The construction and infrastructure industry has identified Building Information Modelling (BIM) as a solution to managing big data and asset information. Despite the common pain points in aggregating BIM construction data, there are many opportunities with proper data management; particularly, a platform for asset information and visualization is a vital investment in ensuring full technological interoperability and preventing crucial data loss.

Building Information Modelling Opportunities

Construction projects are characterized by large volumes of heterogeneous data-some of the largest infrastructure projects require an average of “130 million emails, 55 million documents and 12 million workflows”2. BIM is envisioned to capture these multidimensional forms of construction data in a systematic and cohesive manner to support multidisciplinary collaboration among stakeholders.

The Crucial Role of Data

Data is valuable in streamlining building processes, discovering project inefficiencies, and developing data-based planning, but maltreatment of data or improper data integration only generates additional data silos. This technical data debt is even further magnified when handing an asset over to operations and maintenance. This is why over 95% of all data ends up unused. Furthermore, “30% of E&C companies are using applications that don’t integrate with each other”3. Many organizations already use BIM to optimize their construction operations, but they cannot pin down a digital strategy that meets all project requirements, limiting stakeholder success to interpreting a myriad of applications. Only 8% of E&C firms utilize full project management systems that allow for up-to-date, accurate data management and reporting.

Building and Infrastructure Data Pain Points

Safety

Without reliable data, project stakeholders must go to the project site to recapture data that has been lost. This requires on-site safety orientations, restrictive data collection methods, and travel to remote locations. Crowded remote worksites are more dangerous, with a greater chance of injury than in the office. Construction sites present the greatest risk for fatalities out of any industry, as one in five worker fatalities in 2018 were in the construction industry.

Decision Making

This fragmentation of data in the construction industry leads to project stakeholders being unable to view all their information at once, spending much of their valuable time gathering and validating data to make decisions. Without the right information at their fingertips, it is difficult to make timely data-driven decisions. In scenarios where time is critical, people tend to make decisions based on experience and intuition, leading to risky or suboptimal outcomes.

How VEERUM Drives Actionable Insights

To capitalize on the benefits that BIM offers – productivity, cost reduction, efficiency and high confidence in building outcomes – organizations must undergo a shift in how they view, access, and manage their data.

Adopting an asset visualization platform like VEERUM is a fundamental step in preventing data loss and accelerating BIM adoption. Aggregating your asset information in a lightweight, cloud-hosted platform can break down data silos and avoid them altogether by creating a central repository for all data. By providing all stakeholders with accurate, up- to-date visualizations of all characteristics, parameters and dynamics of a proposed design, VEERUM plays a highly valuable role in moving throughout the levels of BIM. Companies that adopt multi-mode BIM systems solidify the golden thread between asset owners, EPCs, and contractors by building a common digital repository of information through the entire asset lifecycle.

Modernizing Operation Practices

The VEERUM platform hosts data sets in both two and three dimensions. Using this capability, clients can better understand how their BIM data applies to the physical environment. This allows clients to make time-sensitive decisions based on the most reliable, up-to-date data, guaranteeing confidence in building outcomes.

An oil and gas vice president implemented VEERUM’s platform to co- navigate a detailed 3D visualization of the site to understand the equipment, status and remote planning, resulting in improved productivity, reduced costs, and unnecessary field exposure.

Reducing Cost

By enabling collaboration through asset visualization, the VEERUM platform allows users to identify potential problems in the early stages of construction to eradicate them from the start.

With the ability to view all asset data in a lightweight, cloud-hosted platform, users can work together to resolve issues before they affect schedule and budget. A project director of a global EPC company reported a reduction of wellhead capital costs by 30% and site installation costs by 43% after aggregating all of their digital assets into VEERUM’s platform.

Enhancing Safety

VEERUM’s solution combats the safety challenges of capturing new data by providing an organized cloud-hosted system of record for the entire asset lifecycle. All asset information is available to all relevant stakeholders in a user-friendly, accessible 3D model. Quick loading and precise 3D reality scans and 3D design provide instant virtual access to site reality, reducing the need for risky and expensive site visits.

Directing the Future of Big Data

We are in an age where information is becoming a highly valuable commodity. Companies must capture data to stay relevant in the digital world, but the steps they take after data capture are still blurry. Using the solutions suggested in this whitepaper, implementing a platform for asset information and visualization is a vital step in achieving the full potential of BIM. Companies who adopt BIM are leading the charge in digital adoption and doing their part to future-proof their assets while building the world’s critical infrastructure.

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