Strabag SE, a global construction company, has partnered with Microsoft to drive digitalization and innovation in the construction industry. Recognizing the need for operational efficiencies through data, Strabag built a Data Science Hub in collaboration with Microsoft. This central entity enabled them to collect and leverage decentralized data for valuable insights.
One notable success is their AI-based risk management solution, which uses algorithms to identify at-risk construction projects. By predicting potential failures, Strabag saves time and reduces financial losses. The algorithm has achieved an impressive 80% accuracy in risk prediction with just three months of data.
Through Microsoft's Intelligent Data Platform, Strabag established a centralized system to connect and analyze data from various sources. This paved the way for developing use cases to improve operational efficiency and reduce costs globally.
What is Strabag SE's approach to risk management?
Strabag SE has developed an AI-based risk management solution that uses an algorithm to assess potential risks in construction projects. By comparing new projects against historical data from previously completed projects, the solution can predict risks with up to 80% accuracy after just three months of data. This approach helps the company minimize financial losses and make informed decisions about which projects to pursue.
How has Strabag SE transformed its data management?
Strabag SE partnered with Microsoft to create a Data Science Hub that centralizes data from various sources. This hub allows for better data governance and analysis, enabling the organization to leverage insights for operational efficiency. By adopting Microsoft Intelligent Data Platform and tools like Azure Synapse Analytics, Strabag SE has reshaped its approach to data management, moving from siloed data to a more collaborative and accessible system.
What role does technology play in Strabag SE's innovation strategy?
Technology is central to Strabag SE's innovation strategy. The company has implemented cloud solutions, such as Microsoft 365 and Azure Active Directory, to streamline operations and improve employee access to data. By embracing AI and data science, Strabag SE aims to optimize operations, enhance efficiency, and prepare for future challenges in the construction industry. The focus is on using technology to support employees rather than replace them.