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CCI Prediction


Monitor the condition and performance of your machines and assets in real-time. ​

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CCI Prediction

Challenge

It is always challenging to price construction projects due to the fluctuating costs that trend toward increasing over time. Using Machine Learning algorithms, we provide stakeholders with an accurate way to predict upcoming project costs​.

Solution
  • Historical data about different material prices were collected for the desired study period​.
  • Formula was derived to compute Construction Cost Index (CCI) and a base year was selected​.
  • The CCI was forecasted for each year using ML algorithms such as Neural Networks, Linear Regression,
    and Time Series ​.
  • The models were evaluated for high accuracy to choose the best forecasting method​​.
​

Project Info

  • Category:Cost Indexing​
  • Client: Construction
  • Location: India
  • Completed Date: 2022

Value-Addition​​​

  • 93% accuracy rate was achieved in predicting the price of construction materials​​.
  • It became easier and more reliable to evaluate and budget large construction projects​. ​
  • Reduces risks and prevents unprecedented losses by assisting in the decision-making process​​. ​
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Our Solutions

  • Digital Construction
  • Finance Analytics
  • Project Management
  • Material Cost Indexing
  • Advanced Tendering

Contact Us

  • No. 4, Soundarya Nagar, Gowrivakkam, Chennai - 600 073
  • +91 (44) 2278 2028
  • einnel.gbd (at) einnel.com
  • Mon - Fri / 9:30 AM - 6:30 PM

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