Joanna Crews
Bloomberg‘s government services arm has debuted a platform that works to forecast the dollar value of upcoming federal contracts with the aim to guide companies in their potential bids.
The predicted value feature is designed with a proprietary algorithm that applies machine learning to evaluate and update information on government contract opportunities, Bloomberg Government said Wednesday.
BGOV added the price assessment will serve to help contractors establish bid strategies based on their pipeline strategy and resources.
Donald Thomas, vice president and general manager for government contracting at BGOV, noted that contract value and bid periods are the critical elements of opportunity prediction for clients.
