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

Using Data to Scale & Grow Your Business

Presented by Kiran Penaka & Anne Hunt

Sponsored by

Today’s Speakers

Kiran Penaka

Product Manager for Analytics, Viewpoint

Anne Hunt

Director of Data and Analytics, Viewpoint

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

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

WHAT DOES IT TAKE TO SCALE AND GROW YOUR BUSINESS?

Having the Right People with the Right Skills Having Proper Data to Monitor & Manage Project Outcome Improving and iterating processes to drive productivity and profits

WHAT DOES IT TAKE TO SCALE AND GROW YOUR BUSINESS?

Having the Right People with the Right Skills Having Proper Data to Monitor & Manage Project Outcome Improving and iterating processes to drive productivity and profits

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

Labor Efficiency Variance Composite Crew Rates

Key Metrics to Monitor for Better Management

Total Projected Cost vs. Estimated Industry Benchmarking WIP: Work In Progress Contract Billing Status

Our project managers now have direct access to the system that houses all of the

• information. They are interacting with data
• n 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

DEMO

Proprietary & confidential information. Do not distribute.

11

Driving Innovation Through Incubation

Anne Hunt

Unlocking The Untapped Data Of Construction

Data … Everywhere!

Estimating/Pre-Construction Project Communications Equipment Payroll/Productivity Costs by Phase/Job Materials Sub-Contracts Operations

Proprietary & confidential information. Do not distribute.

Viewpoint’s Construction Data Mission

Create an entrepreneurial environment in which new and novel data-first business concepts can be seeded and executed upon,

• utside 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.

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.

Goal: Predict gross margin fade events

• ne month before it occurs

16

The Data The Findings

How did we capture project performance each month? For each month in a job, we considered:

• The # of months into the job
• The contract value at that date
• The number of change orders to date
• Actual cost, job-to-date
• Projected/estimated cost, job-to-date
• For each numerical value, computed

the “speed” and “acceleration” of each

• ver the past 1,2,3, and 6 months:
• Actual Fade events are predicted 58.3%

ahead of time

• When projected costs increase month-over-

month, more likely to see a fade in margin the next month

• As Labor cost over the last month accounts

for a larger share of the cost of the last 6 months, the more likely one is to observe a margin fade event

• Holiday months have a larger impact on

margin fade prediction than other months

17

Holiday Months Impact Profit

Inference

• Holiday months have a

larger impact on margin fade prediction than

• ther months
• However, the effects

are mixed and don’t necessarily correlate with the final outcome

1 1 2 2

J a n F e b M a r A p r May June J u l y A u g S e p t O c t N

• v

D e c May June J u l y A u g S e p t O c t N

• v

D e c More Red = More Likely to Fade

Unlocking Data - Centralized AI Team

Central AI/Data

Geospatial

Transportation

Autonomy

Hub and Spoke

Natural Resources Construction Corporate Accounts

Trimble Confidential Information

Estimating job bid based on historical jobs

Problem Statement: It is not easy to predict the future, but you can look back on old projects and try to find commonalities to determine what risks may take place.

Q&A Session

To submit a question for Kiran or Anne, type it into the chat.

Thanks for attending!

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