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Using Data to Scale & Grow Your Business Sponsored by - PowerPoint PPT Presentation

Using Data to Scale & Grow Your Business Sponsored by Presented by Kiran Penaka & Anne Hunt Todays Speakers Anne Hunt Kiran Penaka Director of Data and Analytics, Product Manager for Analytics, Viewpoint Viewpoint Poll Question


  1. Using Data to Scale & Grow Your Business Sponsored by Presented by Kiran Penaka & Anne Hunt

  2. Today’s Speakers Anne Hunt Kiran Penaka Director of Data and Analytics, Product Manager for Analytics, Viewpoint Viewpoint

  3. Poll Question 1 What role do you take on in your organization? • CEO/Owner/President • Upper management • CFO/Accounting/AR/AP • Project manager • Field operations

  4. Poll Question 2 What are your greatest challenges related to scaling your business? • Finding the right people to lead • Building repeatable processes across the organization • Finding more profitable kinds of projects/jobs

  5. WHAT DOES IT TAKE TO SCALE AND GROW YOUR BUSINESS? Having the Right Having Proper Data to Improving and iterating People with the Monitor & Manage processes to drive Right Skills Project Outcome productivity and profits

  6. WHAT DOES IT TAKE TO SCALE AND GROW YOUR BUSINESS? Having the Right Having Proper Data to Improving and iterating People with the Monitor & Manage processes to drive Right Skills Project Outcome productivity and profits

  7. Poll Question 3 What are your greatest challenges related to generating reports? • Lack of data • No forecasting tools • Accessing data • Quality of data • Secure data distributing

  8. Key Metrics to Monitor for Better Management Labor Efficiency Variance Composite Crew Rates WIP: Work In Progress Contract Billing Status Total Projected Cost vs. Estimated Industry Benchmarking

  9. Our project managers now have direct access to the system that houses all of the information. They are interacting with data on a regular basis, so they are clear on what the data and fields mean when they regularly analyze the data. - Jim Voss, Chief Financial Officer, Advanced Technology Group

  10. DEMO

  11. Driving Innovation Through Incubation Anne Hunt 11 Proprietary & confidential information. Do not distribute.

  12. Unlocking The Untapped Data Of Construction Data … Everywhere! Estimating/Pre-Construction Project Communications Equipment Payroll/Productivity Costs by Phase/Job Materials Sub-Contracts Operations

  13. Viewpoint’s Construction Data Mission Create an entrepreneurial environment in which new and novel data-first business concepts can be seeded and executed upon, outside of the day-to-day mechanics of Viewpoint’s core businesses. Serve to propagate the spirit of data- and analytics-first innovation and intrapreneurialism to Viewpoint at large. Proprietary & confidential information. Do not distribute.

  14. Viewpoint - Macro Process Steps - Profit Fade Example Variances in design clarity/completeness, ability to capture accurate cost information are early risk factors. Ability to lock in costs, manage resources and timelines, and optimize RFIs and change order requests are key factors for success on project margin.

  15. Goal : Predict gross margin fade events one month before it occurs

  16. The Data The Findings How did we capture project performance Actual Fade events are predicted 58.3% ● each month? ahead of time For each month in a job, we considered: When projected costs increase month-over- ● month, more likely to see a fade in margin • The # of months into the job the next month • The contract value at that date As Labor cost over the last month accounts ● • The number of change orders to date for a larger share of the cost of the last 6 • Actual cost, job-to-date months, the more likely one is to observe a • Projected/estimated cost, job-to-date margin fade event • For each numerical value, computed Holiday months have a larger impact on the “speed” and “acceleration” of each ● margin fade prediction than other months over the past 1,2,3, and 6 months: 16

  17. Holiday Months Impact Profit 1 Inference More Red = More Likely to Fade 1 • Holiday months have a larger impact on margin fade prediction than other months 2 2 • However, the effects are mixed and don’t necessarily correlate with the final outcome June June May y g t t May y g p v b r p c c n r t l t a u p u l u e c o v e e e c e a u A M O J O N o F A A S S D D J J N 17

  18. Unlocking Data - Centralized AI Team Hub and Spoke Estimating job bid based on historical jobs Geospatial Corporate Construction Accounts Problem Statement: It is not easy to predict the future, but you Central AI/Data can look back on old projects and try to find commonalities to determine what Autonomy Transportation risks may take place . Natural Resources Trimble Confidential Information

  19. Q&A Session To submit a question for Kiran or Anne, type it into the chat.

  20. Thanks for attending! Look for an email from us about how to view playback and download a copy of today’s presentation. For more helpful webinars, visit constructionbusinessowner.com.

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