- Number 1 being a qualified standard structure that’s important
- Number 2 is the data collected in a structured manner In order for you to benchmark data the data has to be in the same way For example a box has to be a box has to be a box.
It can’t be a box a triangle and a circle Because they don’t fit over each other So in a structured way the data has to be collected And right now in the Construction Industry relating to cost we’re really struggling with that We do not have standard structures for cost data The ICMS (Internatioal Construction Measurement Standards).
That’s an international construction measurement standard for cost we would use that in our data collection and then map that to local standards like SFB in Denmark.
- And number 3 is having a specialist that understands the Quality Level in the data Data is information
And you can give information to anybody. But if they don’t understand what they’re looking at it doesn’t matter if the information is of high quality or low quality.
They won’t be able to recognize the quality levels so the data is at it’s lowest point in terms of it’s usability.
What is your experience with cost databases?
