We busted the myth that tenders are always awarded to the lowest bid in a previous post (Mythbusters - Does the lowest bid always win the tender?). While we uncovered some interesting points, we ended up asking even more questions than when we first started. In this post, we do a deeper dive into the data to try and answer the question: do tenders that are awarded to the lowest and highest bidders tend to be from certain industries?

Method

We have often heard it being repeated, to the point where some take it as gospel truth – “The tender always goes to the lowest quote”. We thought it would be interesting to see what the data has to say about this. In this post, we analyse what the data reveals about tenders in Singapore being awarded to the lowest bids.

Method

We looked at about 38,000 tenders that were awarded over the past year in Singapore. Each tender is categorised into 1 of 4 groups:

In this post, we discuss the Singapore tenders market at a broad level. We share our analysis which reveals the market’s size and constituents. We hope that companies tendering or looking to bid for tenders in Singapore would find these insights useful.

Market Statistics

A data-driven approach requires an understanding of what metrics are important when measuring a company’s tendering performance. In this post, we discuss these key metrics, which can be obtained by analysing tender data. If you are not familiar with the data-driven approach to tendering, do check out the previous post (Part 1 of the Data-Driven Approach to Tendering), in which we introduced the data-driven approach to tendering and how we could infuse insights from data analytics into the tendering workflow.

Most companies that bid on tenders in Singapore are not able to take a data-driven approach to tendering. In fact, they would not be able to easily perform data analytics on tenders even if they wanted to. Tender data is simply not found in way that enables ease of analysis. This is one of the reasons TenderBoard was created – to serve as a platform that enables analysis of data that would allow companies to be more competitive. In this 2 part blog, we discuss the data-driven approach to tendering.

If you are an organisation looking to participate in tenders in Singapore, you will find this site indispensable. From here, you can easily search across the many sites hosting tenders in Singapore (both government and private sectors). We also provide tools and data that may be used to derive competitive intelligence, as well as insights about the market.