The fast-paced speed of the construction industry means projects are constantly in flux, and decisions have to be made on the spot. When those decisions are made with bad data—that is inaccurate, incomplete, inaccessible, inconsistent, or untimely data—it leads to bad outcomes.
Our research shows that the cost of bad data for a contractor who performs $1 billion in total revenue could be as high as $165 million, including $7.1 million in avoidable rework.