In business, a decision based on incorrect information can have far-reaching consequences for an organization. This is not breaking news, of course, but consider this: Autodesk recently released a study in collaboration with consulting firm FMI Corp. on the prevalence of data usage in construction and the repercussions associated with data errors. It shows that “In 2020, bad data may have caused $1.8 trillion in losses worldwide and may be responsible for 14% of avoidable rework, which amounts to $88 billion in costs.”
In the building information modeling (BIM) market, the data of value is content that consists of essential information needed by BIM engineers including technical, visual, dynamic and geometric parameters that form the characteristics of a product. These ensure the virtual object used in a model behaves just as it would in the real world. You can imagine then the fallout from bad BIM content that would mimic the consequence mentioned above — very expensive and avoidable rework.