Even more to come: Major Bid Management hits Machine Learning
We anticipate that Machine Learning (ML) will further boost a companies ability to successfully execute the bid management process and outperform their respective competition. The Uffective platform already today incorporates ML in a broad range of use-cases like the predictability of a projects success early on in the funding process or scenario planning.
In terms of bid management, ML will automatically learn from previous bid successes and failures to inform the actual bid decision at hand. By incorporating a broad range of attributes in the bid scenarios proposal and building linkages between them, which have been unconsidered before, bid managers will be informed about how the most ideal bid set-up looks like from a resource as well as from a financial offer perspective to win a deal.
There will never be a 100% certainty to win a major bid. However by taking advantages of power of the digital process transformation in combination with the advance of machine learning capacities supporting modern bid management processes, companies dramatically increase their chances to win.