TenderCast: Awards

Analytics for Living's TenderCast: Awards

An innovative extension of our platform, TenderCast: Awards uses advanced analytics to help answer the pivotal question: “What are our chances of winning this tender?” This premium module builds on TenderCast’s core data to model the probability of award at various bid configurations.

Using historical win/loss data (both industry-wide and client-specific), TenderCast: Awards can highlight factors that increase win likelihood, such as optimal bid timing, consortium partnering, or value-added offerings. Businesses receive a data-backed “scorecard” for each tender opportunity indicating how closely their profile and bid align with past winners.

  • Win Likelihood Simulation: Input your intended bid parameters (price, volume, delivery timeline, etc.), and the system returns a probabilistic assessment of victory. For example, it might show a 60% projected win probability at $5M bid, which could rise to 75% at $4.8M or with inclusion of a local subcontractor – guiding strategic decision-making.

  • Insight from Historical Awards: The module provides case studies of similar tenders and who won them, including key differentiators. Perhaps incumbency, technical score, or additional services made the difference – TenderCast: Awards identifies such patterns.

  • Benchmark “What Success Looks Like”: By validating model predictions against actual past outcomes, we ensure the guidance is reliable. For new users, we often start by demonstrating validated use cases: we take tenders that have concluded, run the Award module on them (using only data available prior to award), and show how accurately it would have predicted the winner. This transparency builds trust in the tool’s recommendations.

Ultimately, TenderCast: Awards helps organizations bid smarter and allocate resources to opportunities where they have competitive advantage – maximizing win rates and ROI on business development efforts. Government agencies, on the other hand, benefit indirectly: when vendors have clarity on what a successful bid entails, they can focus on quality and compliance, leading to stronger proposals and project outcomes.