As published in our recent edition of BidPrime Quarterly, Josh Schwartzbeck, our CTO, introduced our new Market Analysis. The Market Analysis will empower customers with the ability to query, analyze, and make business decisions, based on reporting from a trove of historical competitive government bid / RFP data.
Data is our business at BidPrime. We store, analyze and distribute terabytes of information. We have real-time data feedback loops to help make operational decisions. We keep track of usage metrics to guide our product roadmap. And of course, we have a trove of government spending information that we enjoy exploring.
Aggregating and pre-processing an ever-increasing amount of streaming data inherently takes time. Methods of storing and processing data from decades ago just don’t work any more with the amount of information that companies have to process today.
You may have heard about scaling out rather than scaling up, or horizontal scaling vs vertical scaling. This simply means designing an architecture that allows work or storage to be split into many smaller chunks rather than simply increasing the processing power or storage space of any single machine. This is how we’ve created an “infinitely scalable” architecture to keep up with our ever increasing data demands.
Over the last few months we’ve made significant improvements to the way we match bid opportunities to our customers. We’re now able to take thousands of complex, user-specific keyword filters and conditions to find bids from years ago in milliseconds. We’ve been able to use these innovations in new and exciting products and features that we’ll be rolling out throughout the year. The first of which is our new market analysis. We’ve built a dynamic market analysis report that executes thousands of user-specific searches and aggregates millions of data points including bid durations, top entities, regions and release time periods on-the-fly.
We’re excited to see how we can use technology, innovation and our comprehensive bid and RFP database to provide even better service, insight and tools for our customers. Current BidPrime clients already have introductory access to this new Market Analysis tool for the first year. An overview Market Analysis can be customized deeper into specific reports by contacting a BidPrime Account Representative by phone or email.
Any other companies, who are looking to evaluate historical competitive trends and analytics, may call 1-888-808-5356.
Josh Schwartzbeck / Chief Technology Officer / BidPrime