BidPrime recently unveiled the powerful research tool Market Analysis—the first in a planned line of products to significantly improve your business decision-making.
Knowledge is power and we’re taking steps to bring you more of both. Specifically, we have a treasure trove filled with terabytes of historical bid and solicitation data that we believe you could be using to your greater advantage. So we’re charging full-speed ahead with efforts to develop a collection of business-focused data retrieval/analysis/reporting tools featuring real-time data feedback loops that facilitate competitive analysis of bids, all for the purpose of helping you make faster, better business decisions.
The first of these tools is now available: Market Analysis (you can read more about it and our other soon-to-debut aids in this detailed report from BidPrime CTO Josh Schwartzbeck).
Market Analysis gives you knowledge-based power that we feel will amount to a dramatic edge over your competitors. Drawing upon robust, quickly aggregated and precise data, Market Analysis executes thousands of user-directed searches with blinding speed. It assembles millions of data points on the fly, peering with ease at bid durations, top entities, regions and release time-periods, and much more.
What should you expect from our new Market Analysis tool? Plenty. A highly customizable report, for starters. This report lets you evaluate 10+ years of historical competitive trends and analytics for U.S. federal, state and local, and/or Canada bid/RFP activity. Regarding public agencies’ release of bids, RFPs, solicitations, and purchase orders, Market Analysis looks backward in order to answer your “Who, What, When, and Where” questions—and, in so doing, helps you better anticipate future activity (meaning you no longer have to make wild guesses as to who might show interest in your solution, service, or item). Truly, in sales, history can be an excellent teacher.
Something else you should expect is to be able to tailor this new tool to meet your exacting needs. Contained in our database are millions of bids that span more than a decade and that now can be analyzed in whichever way you decide results in the fullest, clearest picture of your marketplace. Imagine how much insight you can gain by sifting in seconds through historical bid data from last month, last quarter, last year, or from a string of months, quarters, or years.
Market Analysis also provides graphical depictions of industry trends. Count on these to reveal in bold relief the top regions for the activity most relevant to your business. Additionally, you’ll find it easy to identify the month or months when peak activity for your industry does in fact occur (no more having to play hunches or make assumptions from thin evidence). Further—and this is key—Market Analysis discloses average bid durations (thus positioning you to overcome the responsiveness disadvantage resulting from the accelerating sharp decline in bid durations even as bids/RFPs are published in greater number).
Market Analysis is the product of terrific work by our cutting-edge engineering team. Current BidPrime clients (those with active paid subscriptions) are already enjoying introductory access to our new Market Analysis tool. And for the next 12 months they’ll continue to reap the rewards of that accessr—such as being able to embed a customized Market Analysis overview report deep into specific reports.
Want to try it for yourself? Start the ball rolling by phoning or emailing a BidPrime account representative today!
Get the power to evaluate and analyze historical competitive trends while at the same time delighting in the knowledge that you can see opportunities your competitors can’t. Don’t wait. Give us a call right now at 1-888-808-5356.