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An Automated Method for Extracting and Analyzing Railway Infrastructure Cost Data

Author(s): ORCID
ORCID

Medium: journal article
Language(s): English
Published in: Buildings, , n. 10, v. 13
Page(s): 2405
DOI: 10.3390/buildings13102405
Abstract:

The capability of extracting information and analyzing it so that it is in a common format is essential for performing predictions, comparing projects through cost benchmarking, and having a deeper understanding of the project costs. However, the lack of standardization and the manual inclusion of data make this process very time-consuming, unreliable, and inefficient. To tackle this problem, a novel approach with a big impact is presented combining the benefits of data mining, statistics, and machine learning to extract and analyze the information related to railway infrastructure cost data. To validate the suggested approach, data from 23 real historical projects from the client network rail were extracted, allowing their costs to be comparable. Finally, some machine learning and data analytics methods were implemented to identify the most relevant factors allowing cost benchmarking to be performed. The presented method proves the benefits of data extraction for gathering, analyzing, and benchmarking each project in an efficient manner, and to develop a deeper understanding of the relationships and the relevant factors that matter in infrastructure costs.

Copyright: © 2023 by the authors; licensee MDPI, Basel, Switzerland.
License:

This creative work has been published under the Creative Commons Attribution 4.0 International (CC-BY 4.0) license which allows copying, and redistribution as well as adaptation of the original work provided appropriate credit is given to the original author and the conditions of the license are met.

  • About this
    data sheet
  • Reference-ID
    10744654
  • Published on:
    28/10/2023
  • Last updated on:
    07/02/2024
 
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