From the course: Construction Technology: Establishing ROI
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Calculating ROI for data tools for a building owner
From the course: Construction Technology: Establishing ROI
Calculating ROI for data tools for a building owner
- [Instructor] As my own data literacy has grown, I've picked up on a phrase that I like to use when it comes to strategizing around data. It's data information and knowledge. When we're collecting data from IoT sensors, they're creating data. Data's just data. The sensors provide a continuous flow of numbers. At 10:55, 68 degrees. 10:56, still 68 degrees. When this is analyzed and presented in charts and summaries, it becomes information. A phrase like the information's all there means you have the information that you need to understand something. But you still need to consume the information and turn it into something. When you look at a series of charts and heat maps, until this information changes from dots on the screen to action or understanding, it hasn't become knowledge and hasn't done anything. Until you actually do something with the information you have, you've not created any value from it. Something…
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