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Operations • Business Tips • Industry Insights • 47 minutes

Demystifying Data for Contractors

April 26, 2022

Episode Overview

Tyson Freeman loves numbers. Data and reporting are important factors in his life.

Those affinities create a perfect match within ServiceTitan, where Freeman is head of contractor advisory services. His role is to advise contractors on how to use the platform in the most effective, cost-efficient ways.

“After work, I would come home and just run reports to see what fields were available, what data points were available,” Freeman says. “I always felt there was something more we could be doing to improve our customers' lives. If I could figure out something that brought value to a customer or an employee, then I wanted to implement it.”

How does he define data?

“Data can mean a lot of different things,” Freeman says. “The way I think about it is information. And numbers. That's pretty generic, but almost everything we do in contracting has numbers behind it.”

Once you’ve collected numbers and data, the next step is figuring out what it all represents and how you can use it to boost business. Freeman believes the uses for data are endless, including in recruiting.

“For example, when I'm looking to hire a new employee, you have your recruiting pipeline,” he says. “How many candidates do I have? What are their qualifications? What's the average tenure? What's the cost to train someone in our company? How long are they going to have to ride with another technician? How long does it take to train them on our ways?”

Data can be used effectively in every part of a company, Freeman says. Even payroll.

“You're looking at commissions and what commissions motivate employees,” he says. “And then you've got data associated with going to the bank to ask for loans. You have to prove your story to them about the value of the company and how you can repay.”

In the big picture of a company’s success, Freeman sees data as having a huge role.

“I'll venture to say most companies have a goal or goals that they're striving toward,” he says. “Those goals can vary widely. Some companies want to grow their top-line revenue, or just grow profitability. Some may want to sell. Some may want to give their inheritance to a child or someone else.”

Data matters because it allows you to measure goals.

“If you don't put measurement to it then you're always just going to be moving in a direction and not know if you're doing anything worthwhile,” Freeman says. “Data is the way to get back to the ‘why’ of your business.”

Tyson Freeman recently joined ServiceTitan’s Jackie Aubel as part of Season 5 of the “Toolbox for the Trades” podcast, which included Freeman’s thoughts on:

  • How to get started in data reporting. 

  • Not getting overwhelmed by collecting data. 

  • What to measure.

  • Why contractors should care about data.

  • Company-wide data goals needing employee buy-in.

To hear more tales from the trades, subscribe to Toolbox for the Trades on Apple Podcasts, Spotify, our website, or anywhere you get podcasts.

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Toolbox for the Trades is a podcast where top service professionals share the tips, tricks, and tactics they use to succeed in their industry. Hosted by Jackie Aubel, this podcast is brought to you by ServiceTitan—the leading home and commercial field service software.

Episodes will feature stories and strategies to help contractors grow and scale their service business.

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