Why Bim is important and their applications?

Bim is stands for a Building information MOdeling in which we mange to create a 3D model of an project. It is a Digital representation of the chrecteristic of the building which have some collaborative data which are as architectural, Electrical, plumbing, Machines, structural,and their applications are Revit, Archicad, Solidworks, Autocad e.t.c. Their Applications are so important and universal in all over world. These applications helps developer to create a digital representation which are as follows :-
1) It is far more cost effective.
2) It saves much Time.
3) It saves Material cost.
4) It has a minimum error.
5) Cost estimation is about too close to quote for the contractors through design.