When participating in a tender, it is important to know as much about other bidders as possible to be able to assess your chances of winning. By using artificial intelligence algorithms, Seldon.Pro is able to determine potential bidders in a tender.

Where is it?

You can find the information on potential bidders in the analytics section of a lot page together with your winning probability score and similar tenders:

The winning probability rate can be used as additional reference point when assessing a tender and your participation in it. The rate is calculated based on multiple criteria. Read our previous post to learn more.

Today's post is dedicated to automatic estimation of potential bidders. “3 out of 15 potential bidders” means it is highly likely that out of 15 potential bidders in this particular tender 3 will place a bid:

How Does Seldon.Pro Determine Potential Bidders?

Here are the steps the algorithm takes:

1. Analysis of the customer's previous tenders and their bidders/winners.
2. Examination of similar tenders from other customers.
3. Review of the number of contracts.
4. Study of successful participation of companies in other tenders.

Seldon.Pro uses the collected data to predict the number of potential bidders and placed bids. It also estimates the probability of each potential bidder placing a bid:

One Step Ahead of Competitors

The estimated number of bids and potential bidders may differ from the actual outcome of the tender process. Use this information to conduct competitive analysis, increase the efficiency of your decisions, and win more tenders.