Viewpoint, a Trimble Company, unveiled a data platform providing self-service reporting and predictive analytical capabilities to contractors. Called Viewpoint Analytics, the solution will enable contractors to track operational and financial performance of their projects, processes, people and ultimately, their business. Previewed at the Viewpoint Collaborate Conference in Portland, Ore., the platform uses real-time information entered from the field to analyze projects and help clients achieve on-time, on-budget performance.
"Research by the McKinsey Global Institute indicates the necessity of a data-driven productivity transformation for construction which, based on the efficiency and cost savings potential alone, makes data just as foundational as materials in completing construction projects on time and on budget," said Matt Harris, Viewpoint chief product and strategy officer. "Viewpoint Analytics will not only significantly improve the reporting abilities contractors currently have, it will let them build and measure against new KPIs and both internal and industry benchmarks."
"This data evolution is going to be transformational for the construction industry," said Vice President Meggan Krase with Kansas City, Mo.-based Garney Construction, which has been field testing Viewpoint Analytics. "We are excited to continue partnering with Viewpoint in the realm of testing new solutions. Their focus on helping develop predictive capabilities for profit fade, safety and other needs have significant impact on our company's operations and the construction industry as a whole."
Viewpoint Analytics is built within the Microsoft Azure Cloud platform, an industry-leading platform for artificial intelligence (AI) and machine learning technologies. Viewpoint is also collaborating with Microsoft on new data science and AI initiatives.
"We are focused on building and supporting the best platforms for data transformation on Azure," said Technical Fellow and Azure Data CTO Raghu Ramakrishnan at Microsoft. "Supporting Viewpoint's industry-transforming initiatives will help unlock the value of data in the construction industry."
Several clients are currently testing Viewpoint Analytics. The company is additionally working with the Construction Financial Management Association (CFMA) to embed key financial benchmarks created by the association and used industry-wide into Viewpoint Analytics' data analysis offerings for contractors.
"The CFMA has been a trusted source of detailed financial benchmarking data for the construction industry for years," said Stuart Binstock, Construction Financial Management Association president. "We're excited to work with Viewpoint to make this data more accessible to more contractors around the country by including it as part of their new Viewpoint Analytics solution."