AUSTIN, Texas, Feb. 10, 2021 /PRNewswire/ -- Oracle today
announced Oracle Construction Intelligence Cloud Service, a new
suite of AI and analytics applications for the engineering and
construction industry. Construction projects often run into
problems that impact productivity, safety, and profitability. The
new suite uses machine learning to continually analyze project data
managed in Oracle Construction and Engineering solutions to
identify these potential risks and inefficiencies early, helping
organizations make better decisions.
The first application in the suite, Oracle Construction
Intelligence Cloud Advisor, is generally available today, with
other applications to follow.
"When you see some of the predictive modeling being done,
such as Oracle's Construction Intelligence Cloud Service, you see
an endless opportunity for us to be more proactively
responsive as opposed to reactive," said Patty Sullivan, project manager, Strategic
Initiatives Group at Burns & McDonnell. "Additionally, I
believe there is an opportunity to manage or mitigate project risk
with this technology. It is certainly something we will be
looking at this year and we look forward to working with Oracle in
utilizing this technology to improve and transform our
industry."
Oracle Construction Intelligence Cloud Advisor
Oracle
Construction Intelligence Cloud Advisor provides predictive
intelligence to improve decision-making at all levels of an
organization. Unlike software that provides only a view into what
has happened in a project, the application also anticipates
what may happen next. Its re-trainable machine learning models
improve in accuracy over time as they learn from an organization's
experiences.
Today, the application uses data from Oracle's Primavera
scheduling solution to predict project delays, which often
lead to cost overruns, and help organizations determine appropriate
corrective actions. This includes identifying what project
activities might be delayed and why. Oracle Construction
Intelligence Cloud Advisor can also help create better
estimates, identify the impact of predicted delays on downstream
activities, and improve the scheduling process to increase
productivity.
For example, imagine that while assessing a construction firm's
vast portfolio of projects, Oracle Construction Intelligence Cloud
Advisor predicts that the structural work on one of the projects
could be delayed by 14 days due to scheduling errors, resourcing
constraints, and the historical setbacks in these types of
activities. This intelligence enables the project team to work with
their in-house scheduling teams and supply chain partners to manage
the risk and ensure the factors causing the delay can be mitigated.
They can also determine whether similar delays have happened on
past projects to identify the root causes and fix the issue
systematically.
"It requires a substantial amount of time for HART to review and
provide feedback on monthly schedule submittals from our
contractors," said Nate Meddings,
director of project controls for Honolulu Authority for Rapid
Transportation (HART). "We look forward to having Oracle
Construction Intelligence Cloud Advisor as a solution that
streamlines the analysis by highlighting specific areas of concern
before we even begin our review process. We welcome the fact-based,
visual indicators we can share with our contractors to help drive
improvements in their work product."
There are plans to expand Oracle Construction Intelligence Cloud
Advisor to include data from across the Oracle Construction and
Engineering portfolio over the next year. These enhancements may
help identify potential risks related to litigation, safety,
rework, supply chain performance and cash flow. Additionally, new
Oracle Construction Intelligence Cloud Service analytics and data
service offerings will be added to the product line.
"Engineering and construction organizations are struggling to
mine their data for useful insights into the performance of their
projects and operations," said Mark
Webster, senior vice president and general manager, Oracle
Construction and Engineering. "Oracle Construction Intelligence
Cloud Service was shaped by our customers' need for intuitive tools
to make their project outcomes more predictable and their
businesses more competitive and profitable."
About Oracle Construction and Engineering
Asset owners
and project delivery teams rely on Oracle Construction and
Engineering solutions for the visibility and control, connected
supply chain, and data security needed to drive performance and
mitigate risk across their processes, projects, and organization.
Our scalable cloud construction management software solutions
enable digital transformation for teams that plan, build, and
operate critical assets, improving efficiency, collaboration, and
change control across the project lifecycle.
www.oracle.com/construction-and-engineering.
About Oracle
Oracle offers suites of
integrated applications plus secure, autonomous infrastructure in
the Oracle Cloud. For more information about Oracle (NYSE:
ORCL), please visit us at www.oracle.com
Trademarks
Oracle and Java are registered trademarks
of Oracle Corporation.
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SOURCE Oracle