Rapid development in data science keeps paving the way for use of data for many purposes in shipbuilding, both for product development and production, such as Industry 4.0 have been developing many industries. Similar to other industries the evaluation of performance in shipbuilding is the key to success which is closely connected to productivity and lowered costs. Data mining and analysis techniques are used to create effective algorithms to evaluate the performance, also by means of cost estimation based on parametric methods. However, it is usually not very clear how data are collected, organised and prepared for analysing and deriving valuable knowledge as well as algorithms. In most of the cases, having this data requires either continuous investment in expensive software or expensive external expertise which are generally not available for small and medium size shipyards. In this study, considering the needs of the small and medium sized shipyards, a step-by-step methodology is proposed which could be easily applied with widely available low budget software. The application is demonstrated with a case to evaluate the performance of early phase structural design with a data driven cost estimation algorithm.