An Exciting Time for Analytics in Construction
Josh Kanner, Senior Director of Product & Strategy-Construction Intelligence Cloud | December 8, 2022
I’m excited to announce that Oracle has acquired the products and intellectual property of Newmetrix. If you are interested in using analytics to help predict and prevent risk across the plan, build, and operate lifecycle of the built world, I think you’ll be excited as well. Here’s why.
Newmetrix and Oracle
1. Newmetrix + Oracle’s Construction Intelligence Cloud = more risk reduction today
Newmetrix helps reduce project risk through an easy-to-use and industry-tuned AI platform, nicknamed “Vinnie.” As an AI platform, Vinnie has been trained to understand and predict safety risk by analyzing a variety of data including photos, field activities, weather and more. Oracle’s acquisition included the intellectual property underlying Newmetrix’s AI-enabled construction safety product suite, which Oracle intends to incorporate into its Construction Intelligence Cloud, part of the Smart Construction Platform. As the former CEO, I’ve joined Oracle with other leaders from Newmetrix as part of the acquisition.
The team and I are thrilled to help continue the great work that Oracle is already doing in the area of construction risk analytics. The Newmetrix product and vision fit perfectly within Oracle’s Construction Intelligence Cloud as we address complementary areas of project delivery risk. With the award-winning Newmetrix predictive analytics product, the Construction Intelligence Cloud can now deliver predictive safety analysis in addition to predictive schedule risk analytics. And the future holds even more possibilities.
2. The future is bright: Oracle provides a powerful, secure and partner-friendly approach for innovation
Oracle is a global leader in data integration, management, and security. Given the sensitivity and scale of the data involved, Oracle is the ideal partner for those looking to implement analytics for construction. But this journey is not just about Oracle’s technical strengths. Oracle’s investments in fostering open partner innovation through initiatives like the tremendously successful Oracle Industry Lab demonstrate a commitment to working with the partner ecosystem. In fact, Newmetrix’s participation as a member of the Oracle Industry Lab launched our original integrations and customer relationships. Going forward we will continue to be open to partners both existing and new as we work together to deliver value to our customers.
3. The Newmetrix and Oracle teams are aligned on involving our customers in this journey
While predictive analytics powered by machine learning and AI has been providing insights to many industries from manufacturing to healthcare to logistics, it is still in its infancy in the construction industry. Newmetrix and Oracle’s Construction and Engineering Business Unit share the same customer-driven approach to changing that.
With the Newmetrix team and Oracle’s technology, resources, and vision, there are many reasons to be excited about the future of analytics in our industry.
Oracle Construction and Engineering, the global leader in construction management software and project portfolio management solutions, helps you connect your teams, processes, and data across the project and asset lifecycle. Drive efficiency and control in project delivery with proven solutions for project controls, construction scheduling, portfolio management, BIM/CDE, construction payment management, and more.