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3. Basic Web Scraping Example

This document provides a basic web scraping example using Python to extract building material prices from a specified URL. It outlines key data sources for construction cost information, including publications and commercial tools, as well as the importance of data-driven forecasting and analytics in the industry. Best practices for maintaining accurate cost data and utilizing technology are also highlighted.

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Tan Zhen Hui
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4 views

3. Basic Web Scraping Example

This document provides a basic web scraping example using Python to extract building material prices from a specified URL. It outlines key data sources for construction cost information, including publications and commercial tools, as well as the importance of data-driven forecasting and analytics in the industry. Best practices for maintaining accurate cost data and utilizing technology are also highlighted.

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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3.

Basic Web Scraping Example


Here’s a simple script to get you started:
import requests
from bs4 import BeautifulSoup
import pandas as pd

# Set the target URL 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
+3
Wikipedia
+3
YouTube
+3

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.
url = "https://example.com/building-materials"

# Send a GET request to the website


response = requests.get(url)
soup = BeautifulSoup(response.text, 'lxml')

# Extracting material names and prices


materials = []
prices = []

for item in soup.select('.material-item'):


name = item.select_one('.material-name').get_text(strip=True)
price = item.select_one('.material-price').get_text(strip=True)
materials.append(name)
prices.append(price)

# Create a DataFrame to organize the data


df = pd.DataFrame({
"Material": materials,
"Price": prices
})

# Save the data to an Excel file for further analysis


df.to_excel("material_prices.xlsx", index=False)

print("Scraped data saved to 'material_prices.xlsx'")

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