Naismiths has launched a construction analytics platform built upon 60 years of its own data.
The real estate consultancy built the Naismiths Analytics platform using data collected through the monitoring of thousands of property development projects.
Naismiths said the new tool will help it streamline early-stage appraisal of property developments.
It will allow users to accurately predict and monitor cost, risk, and length of programme, as well as stress test assumptions on key variables.
Naismiths Analytics director Richard Winson said: “By fully understanding the key metrics and risk factors, we can use our data and insights to assist a wide range of stakeholders.
“We are confident that our new platform will revolutionise the due-diligence process and bolster confidence when it comes to stakeholders making key decisions about property developments.”
How it works
The Naismiths Analytics monitoring team will analyse a development project against set metrics and historic data from similar schemes to provide clients with a risk and project viability report.
The firm argued this early-stage advice can be “crucial” for lenders and stakeholders, particularly in the current climate.
The user puts into the platform basic information about their project and the building process, specifying, for example, if it is a new-build, refurbishment or a change of use.
A profile of the project is created and recommendations are made using the historic data. This might include projected material challenges and costs based on similar schemes in the past.
Naismiths says a “unique” feature of the platform is the identification of influential ‘abnormals’, or features of a project that could impact cost, risk, and programme duration.
A full version of the platform is only available in-house and for clients, although a ‘lite’ version, which has fewer features, is also available to the public.
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