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Abstract. We present a novel resolution-based outlier notion and a nonparametric outlier-mining algorithm, which can efficiently identify top listed outliers from a wide variety of datasets. The algorithm generates reasonable outlier results by taking both local and global features of a dataset into consideration. Experiments are conducted using both synthetic datasets and a real life construction equipment dataset from a large building contractor. Comparison with the current outlier mining algorithms indicates that the proposed algorithm is more effective.

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Construction equipment constitutes a significant portion of investment in fixed assets by large contractors. To make the right decisions on equipment repair, rebuilding, disposal, or equipment fleet optimization to maximize the return of investment, the contractors need to predict the residual value of heavy construction equipment to an acceptable level of accuracy. Current practice of using rule-ofthumb or statistical regression methods cannot satisfactorily capture the dynamic relationship between the residual value of a piece of heavy equipment and its influencing factors, and such rules or models are difficult to integrate into a decision support system. This paper introduces a data mining based approach for estimating the residual value of heavy construction equipment using a predictive data mining model, and its potential benefits on the decision making of construction equipment management. Compared to the current practice of assessing equipment residual values, the proposed approach demonstrates advantages of ease of use, better interpretability, and adequate accuracy.