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Because the architecture, engineering and construction (AEC) industry is undergoing an astounding growth in the creation of data, organizations have to place a solid concentrate on data governance guidelines.
That’s among the findings of a fresh study of the AEC sector that reveals it has experienced a 31.2% compound growth rate in data storage since 2017. The quantity of new data being captured or created is staggering, but getting full value as a result depends on the way the data is managed, stored, accessed and protected.
Based on the AEC Data Insights Report from Egnyte, the AEC industry is experiencing unprecedented growth, challenges and opportunities all at one time. Demand is high, supply chains are unpredictable, but through everything the industry keeps growing. So is the quantity of data it really is using and storing to operate in this roller-coaster environment.
Egnyte surveyed approximately 3,000 organizations on the current and recent data management and data storage practices. As the firm likely to see a rise in data creation and storage, it had been caught by surprise on the amount of which has increased.
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Essentially the most surprising finding was the rate of storage growth of our customers on the four years, Ronen Vengosh, vice president of AEC at Egnyte, told VentureBeat. While that is consistent with other industry reports, the truth that, typically, our customers have nearly quadrupled their data storage from 0.9 TB in 2017 to 3.5 TB in 2021 is really a rather striking indication of how AEC firms have grown to be data companies.
The pandemic greatly accelerated the AEC industrys digital transformation, Vengosh explained. Increasingly more AEC firms have migrated to the cloud in the last year or two. That is largely driven by the clouds capability to enable far better communication and collaboration between remote employees and the ones focusing on project sites, while also permitting them to securely analyze and process huge amounts of data.
Furthermore, the is experiencing dramatic acceleration in the adoption of advanced, data-intensive technology (drone video, laser scanning, etc.), and were seeing organizations collect and retain all that data often without robust practices to straighten out what data must be kept and what ought to be discarded, Vengosh said.
This growth has already established a large effect on data infrastructure, Vengosh said. AEC firms experienced to create strategic decisions on how best to manage and secure their increasing volumes of data effectively without disrupting productivity or project outcomes. This comes because the AEC industry is experiencing more stringent regulation and compliance requirements.
Key report findings
There have been several key findings in the Egnyte AEC Data Insights Report, Vengosh said. They include:
- AEC firms store and act on more files than other industries. The normal AEC firm manages 149% (2.49x) more files compared to the cross-industry average. This consists of industries such as for example property, retail, manufacturing and life sciences.
- Data volume growth is explosive. The common AEC firm has increased file storage by 31.2% compound annual growth rate (CAGR) from 2017 to 2021.
- Data sprawl is really a growing challenge. The amount of individual files stored by AEC firms grew by 23.4% CAGR from 2017 to 2021. Firms have increasingly relied on larger file types from various sources, including drone footage and 3D imagery. Furthermore, the rise in specialty applications such as for example Procore and Bluebeam has led to the constant movement of files in one location to some other.
- Usage patterns vary widely across disciplines. An AEC workers sub-industry (owner, architecture, engineering, general contractor and specialty contractor) includes a direct effect on how they connect to files and the forms of files they use. Contractors share files at the best rate, while owners access probably the most files.
- Data security issues vary by company size and discipline. With an increase of data comes more risk. Egnyte flagged an astounding growth of high-severity data issues from Q4 2020 to Q4 2021, a 325% increase across all AEC domains. For context, a concern is known as high severity when it represents the possible loss or exposure of confidential information or other adverse event that results in a substantial impact on the business enterprise.
Data governance to balance growth with business needs
In reaction to this skyrocketing level of AEC data, Vengosh offered his suggestions about how AEC firms should best respond.
To best optimize their data and increase project productivity, AEC firms should align the management of these rapidly growing data making use of their business needs, he said.
Toward that goal, a highly effective data management plan will include:
- Overall business objectives and the info had a need to meet those objectives.
- The means and options for making progress.
- A schedule for frequent reviews and updates.
- Documentation of necessary organizational and project processes (e.g., policies, forms, checklists, tutorials and screenshots).
Establishing data governance is crucial, Vengosh advised. Putting systems and processes set up not merely protects office- and project-generated data, but may also help firms adhere to corporate, industry and government regulations.
Most of all, IT organizations have to accept that manual processes for governing and managing data (for instance, manual content classification or manual content retention policies) aren’t viable at current data volumes, and that policy-based automation is central to an effective content management and governance strategy, Vengosh said.
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