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Advanced Techniques

The document outlines advanced techniques for robust web scraping, including the use of Selenium and API handling, as well as the integration of data analysis tools like Pandas. It also highlights key institutional and industry data sources for construction cost information, such as Engineering News-Record and Building Cost Information Service, along with commercial tools for cost estimation. Additionally, it discusses the importance of data-driven forecasting using machine learning and big data analytics, emphasizing best practices like regular data updates and technology adoption.

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Tan Zhen Hui
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11 views2 pages

Advanced Techniques

The document outlines advanced techniques for robust web scraping, including the use of Selenium and API handling, as well as the integration of data analysis tools like Pandas. It also highlights key institutional and industry data sources for construction cost information, such as Engineering News-Record and Building Cost Information Service, along with commercial tools for cost estimation. Additionally, it discusses the importance of data-driven forecasting using machine learning and big data analytics, emphasizing best practices like regular data updates and technology adoption.

Uploaded by

Tan Zhen Hui
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as TXT, PDF, TXT or read online on Scribd
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4.

Advanced Techniques
For more robust scraping, you might consider:

Using Selenium for dynamic pages

Handling API requests directly if the site uses JavaScript for data loading

Automating periodic scraping using a scheduler like cron or Task Scheduler

Integrating with Pandas for real-time analysis

Institutional and Industry Data Sources


Engineering News-Record (ENR): A leading U.S. publication that provides monthly
updates on prices for 67 building materials across 20 major cities. ENR also
publishes the Construction Cost Index (CCI) and Building Cost Index (BCI), which
are essential benchmarks for tracking inflation and cost trends in construction.
Wikipedia

Building Cost Information Service (BCIS): In the UK, BCIS offers detailed cost
data, including the Price Adjustment Formulae Indices (PAFI), which are widely used
by quantity surveyors and contractors for inflation adjustments in contracts.
Wikipedia

National Statistical Agencies: Agencies like the U.S. Bureau of Economic Analysis
(BEA) and the UK's Office for National Statistics (ONS) collect extensive data on
construction inputs, labor, and materials, contributing to national accounts and
economic indicators.
Wikipedia

🧰 Commercial Tools and Cost Databases


Construction Estimating Software: Tools such as Procore, CM Fusion, and
CostCertified integrate cost databases that include material prices, labor rates,
and equipment costs. These platforms allow contractors to manage budgets, track
expenses, and adjust estimates in real-time.
cmfusion.com
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Wikipedia
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YouTube
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Cost Databases: Comprehensive databases store information on materials, labor, and


equipment, often categorized by region and project type. They support estimators in
creating accurate and detailed cost estimates.
Wikipedia

📊 Data-Driven Forecasting and Analytics


Machine Learning Models: The construction industry increasingly utilizes machine
learning to forecast material prices. These models analyze historical data to
predict future trends, helping stakeholders make informed procurement and budgeting
decisions.
MDPI

Big Data Analytics: By aggregating data from various sources—such as supplier


databases, market trends, and project histories—firms can identify patterns and
anticipate price fluctuations, enhancing strategic planning and risk management.

🌐 Global and Regional Reports


International Construction Market Surveys: Organizations like Turner & Townsend and
Arcadis publish annual reports analyzing construction costs across different
regions, providing insights into material price trends, labor costs, and market
dynamics.
Arcadis

Government and Industry Reports: Reports from entities such as the World Bank and
national governments offer data on construction costs and material prices, aiding
in international comparisons and policy-making.
The World Bank

🧭 Best Practices in the Industry


Regular Data Updates: Maintaining up-to-date cost data is crucial for accurate
budgeting and forecasting.

Integration of Multiple Data Sources: Combining institutional data, commercial


databases, and real-time market information provides a comprehensive view of
material costs.

Adoption of Technology: Utilizing advanced software and analytics tools enhances


the ability to predict and respond to price changes effectively.

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