In the ever-evolving landscape of construction project management, innovative technologies are paving the way for more efficient decision-making processes. A recent study led by Houljakbe Houlteurbe Dagou from Yildiz Technical University’s Department of Civil Engineering in Istanbul, Türkiye, dives deep into the potential of Market Basket Analysis (MBA) algorithms to enhance strategic planning in the construction sector.
The research, published in the ‘Proceedings on Engineering Sciences’, centers on the integration of Association Rule Mining (ARM) within a Co-Market Intelligent Application framework. By focusing on three distinct product categories—coconut non-food products, coconut food products, and sarakat products—the study meticulously evaluates the performance of two primary algorithms: Apriori and FP-Growth.
Dagou’s findings reveal that the application of the Apriori algorithm, particularly with a minimum support of 0.2 and a minimum confidence of 0.5, resulted in striking accuracies of 140% for coconut non-food products and 72% for sarakat products. Meanwhile, the FP-Growth algorithm, with a slightly lower support threshold of 0.1, demonstrated significant performance gains, achieving 92% accuracy for coconut non-food products and 42% for food products.
“This research highlights how tailored algorithmic approaches can dramatically improve the accuracy of market analyses,” Dagou stated. “By leveraging these technologies, stakeholders in the construction sector can make more informed decisions, leading to better resource allocation and ultimately, enhanced project outcomes.”
The implications of this study extend beyond mere academic interest; they signal a transformative shift in how construction firms can harness data analytics for commercial advantage. The ability to accurately predict market trends and consumer behaviors can empower companies to optimize their inventory management and strategic planning, reducing waste and enhancing profitability.
Moreover, as construction increasingly embraces digital transformation through technologies like Building Information Modeling (BIM) and artificial intelligence (AI), the integration of advanced analytics tools such as those explored by Dagou becomes crucial. These innovations not only streamline operations but also provide a competitive edge in a market that demands agility and responsiveness.
As construction professionals look to the future, the insights gained from Dagou’s research may very well guide the way forward. The potential for enhanced decision-making capabilities through sophisticated data analysis could redefine industry standards and practices, making this study a cornerstone for future developments in construction project management.