How Viewpoint Analytics is Reshaping Construction Data

Fast Facts

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As the construction industry — and the technologies supporting it — continues to evolve, more and more contractors are turning to data analytic solutions in order to better understand their project and business operations. These tools not only allow companies to strategically plan and approach their projects, but they also give them the modern-day insights they need to stay ahead of the curve.

A Closer Look at Viewpoint Analytics

Viewpoint Analytics provides real time data, allowing for easy self-service reporting.

Viewpoint’s Kiran Penaka, product manager for analytics and Anne Hunt, director of data analytics, recently took some time to share more about our own Viewpoint Analytics and its benefits to contractors in our recent webinar, Construction Analytics for Data Wonks.

Viewpoint Analytics is a data platform providing easy, self-service reporting and coming soon, predictive analytical capabilities. Built within the leading-edge Microsoft Azure Cloud platform, Viewpoint Analytics dramatically improves contractors’ reporting abilities by providing real-time metrics, visualizations and dashboards, easily queried through self-service tools in seconds. Users can instantly compare and analyze your real-time data in virtually any format they can imagine. And, they can easily build and measure against new KPIs and both internal and industry benchmarks. These powerful analytic tools also let contractors better forecast future work and identify trends, get ahead of potential issues and open new doors of growth opportunities.

The best part? Contractors don’t need a team of advanced data scientists, expensive third-party consultants, or hours upon hours of labor-intensive work to get to this level of insight. And, there’s no need to know SQL! Viewpoint Analytics is simple to set up and its intuitive design and workflows do all of the heavy lifting.

Penaka and Hunt shared details on the three types of data available to customers through Viewpoint Analytics:

Descriptive Analytics

With Viewpoint Analytics, the descriptive analysis process is streamlined.

Viewpoint Analytics works to bring company data together from the back office, field, and data logs, working to provide a complete set of data. With access to KPIs and a histogram, companies are able to ask ‘why’ questions and have the answer right at their fingertips.

Additional access to WIP reports, a variety of billing and payment related data offers insight into field productivity, vendor information, billing reports and more. With a complete set of data it is easy to find where the value lies in each project while also seeing where there is room for improvement.

Predictive Analytics

Viewpoint Analytics will soon offer predictive functions to allow for everyday forecasting and preparation.

With Viewpoint Analytics’ data core and ability to break down data silos, companies will soon have the ability to better forecast their everyday jobs. Tools like weather forecasting and productivity estimates will provide contractors with an everyday idea on what to expect out in the field.

With this data at hand, changes can be made ahead of time and teams will be able to adapt to uncontrollable situations. Viewpoint Analytics will also provide a forecasting tool for monthly job costs. By staying up to date with project costs and billing, companies will have the ability to keep track of their project budgets and determine whether or not they are on track.

Prescriptive Analytics

With predictive analytics, Viewpoint Analytics allows construction organizations to prepare for down the road.

To help companies prepare to make smarter decisions down the road, Viewpoint Analytics compiles data into easily measurable chunks to develop identifiable trends and suggestions that can be taken to achieve desired results. Whether that’s a more efficient management strategy, lower project risks or better labor retention, Viewpoint Analytics uses historical data to predict strategies for all desired outcomes.

“With Viewpoint Analytics … you can get more accurate budgets and estimates and see where a project might go off track,” Hunt said. “You can compare projects and see why one might be underperforming. Is it a project manager? Iis it materials? What in that workflow is causing inefficiencies?

Building a Data Culture

Using data analytics tools empowers companies to dig deeper into their projects than ever before. When modern technologies like Viewpoint Analytics are adopted, construction companies will begin to see a shift in their data cultures. The easier it is to parse and make sense of the mountains of data construction projects produce, the more construction professionals will begin looking at their projects in new ways — including thinking outside the box in terms of innovation and efficiencies.

To learn more about Viewpoint Analytics and see the solution in action, watch the full webinar below:

If you’re interested in learning more about Viewpoint Analytics and how you can implement data analytics at your company, contact us today.

Posted By

Kati is a marketing coordinator at Viewpoint, enthusiastic about all things marketing and construction.