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

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.