by Gavin Diaz
Business Development Analyst
If someone accuses you of dwelling in the past, consider it a compliment. In the bidding world, those who take the time to learn how they can leverage historical data are miles ahead of the competition. In short, analyzing past bids is a simple way to win more jobs.
Info Tech’s Bid Express service has been processing Internet bids for state transportation agencies since 1999. During that time, the service has handled more than 330,000 bids worth more than $1 trillion. As such, the service has pricing data on millions of items. While there is a lot of information to be culled from that data, it would be difficult to get it by simply viewing individual bids. For instance, let’s say you were bidding on a job that was similar to one from a year ago. How did your last bid perform in relation to other bidders as a whole? Was there a certain item or items that you were lower on? Higher on? How can you leverage this information to prepare your current bid?
With the help of online analysis tools, Bid Express subscribers now have access to bid information with a convenient and intuitive interface. Contractors can analyze their bids versus other bidders’ bids for a specified letting, even down to the item level. The service allows them to review information such as historical performance as compared to other bidders by job, work item, geographical area, etc. They can customize views of historical bid data to get the answers they want.
While the concept is complex, the service is very easy to use with colorful graphical displays that are interactive and easy to navigate on any platform, including a mobile device. No training is required.
In any region, there are typically just a handful of contractors with the capacity to perform certain jobs. In short, you know your competition. You also know that bids are typically won or lost on less than a dozen items, and maybe even just a few key ones. Using historical data to see how you are performing on those major items with respect to other contractors in past bids can give you a huge advantage.
At its core, Info Tech was founded on data analysis. We are proud to provide this service, allowing our customers to use the power of data to prepare more accurate bids. This is how you make data work for you; this is how you use technology to advance your business. To learn more about the Bid Express service and the Bid Express Advantage which is part of our powerful Analysis Suite, visit our website.