Bloomberg Government Uses Machine Learning for New Predicted Contract Value Solution
WASHINGTON, May 30, 2018 /PRNewswire-USNewswire/ -- Bloomberg Government has launched a predicted value solution to give clients a competitive edge for evaluating contract opportunities released by the federal government. Bloomberg Government clients have always had access to the most comprehensive and accurate search for open opportunities with the federal government. This enhanced feature offers government contractors essential information for determining whether to bid by assessing if the price of the upcoming contract aligns with their existing pipeline strategy.
Bloomberg Government's predictive value solution applies proprietary machine learning algorithms that use text and data to predict an opportunity's dollar value. The algorithm automatically updates when new information is released, saving clients hours of manual research and guesswork when trying to determine an opportunity's value.
"Bloomberg Government's predicted value feature is another example of ways that we're continuing to innovate and develop key differentiators that haven't previously existed in the market so we can help clients do their job more efficiently," said Donald Thomas, vice president and general manager of government contracting at Bloomberg Government. "Clients have told us that two of the most critical aspects of opportunity forecasting is what the contract is worth and when it's available for bid. The predicted value complements our existing best-in-class functionality to better serve those needs."
The predicted value solution provides:
- Insight: Know how much an opportunity is worth before the government announces it to the public.
- Critical Information: Understand what resources you'll need to pursue and execute on the opportunity.
- Accuracy: Utilize information that has been checked against existing awards and has an accuracy score of more than 80 percent.
For more information about the predictive value solution, please visit:
https://about.bgov.com/schedule-a-demo/?bbgsum=DG-WS-BGOV-home
About Bloomberg Government
Bloomberg Government is a premium, subscription-based service that provides comprehensive information and analytics for policy professionals who interact with ? or are affected by ? the government. Delivering news, analytics, and data-driven decision tools, Bloomberg Government's digital workspace gives an intelligent edge to government affairs, federal, and contracting professionals. For more information or a demo, visit www.bgov.com.
SOURCE Bloomberg Government
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