TenderCast: MDM (Master Data Management)

Analytics for Living's TenderCast: MDM (Master Data Management)

Effective analysis of tenders requires consistent classification of products and services – a challenge when different tenders use varying terms for the same item. TenderCast: MDM addresses this by applying a master data management approach to procurement data.

We recognize the difficulties agencies and businesses face in harmonizing tender terminology with internal product catalogs or standardized codes. A solicitation might name a product informally or even mislabel its category, making it hard to track. TenderCast: MDM uses a curated master dictionary of goods and services (continuously refined with machine learning and domain experts) to normalize tender data.

• All incoming tender descriptions are mapped to the correct CPV categories and standardized descriptors.

• Missing or ambiguous information is intelligently filled or flagged using context from similar tenders.

• This service can be extended to clients as a managed solution: as new tenders are published (sometimes daily in certain countries), Fenix updates the master data mappings and ensures your tender analytics remain clean and accurate.

For our clients, this means less time spent scrubbing data and more confidence that analytics (like demand forecasts or price benchmarks) are built on “apples-to-apples” comparisons. By outsourcing the heavy lift of tender data management to TenderCast MDM, banks and businesses maintain a robust, up-to-date view of procurements without dedicating full-time staff to data cleanup. Ultimately, better data quality leads to sharper insights – e.g., spotting that a “protective garment” tender is actually for bulletproof vests categorized under safety equipment, thereby informing the right experts in your team.