Whether you're a novice or a seasoned professional, tapping into the valuable resource of government procurement data is a goldmine for exporters, consultancies and government suppliers.
Government procurement data includes a range of information related to the purchasing activities of public sector entities, at all levels of government. It includes details about contracts, suppliers, products or services procured, contract values, and more. Here are some things to consider if you are new to this kind of data analysis.
Begin by defining your objectives for accessing government procurement data. Are you seeking to identify potential markets, analyse competition, or evaluate supplier performance?
Ensure that you are accessing data from trustworthy and official sources to guarantee accuracy and reliability. Here at Spend Network, we hold data for more than 150 countries, and 700 sources, globally. We take the hard work out of collecting, organising and analysing procurement data at scale, so you don't have to
Government procurement data is often categorised into various fields such as contract details, supplier information, product or service descriptions, and contract values. Understanding these categories will help you navigate the data more effectively and extract relevant insights.
Familiarise yourself with terminology commonly used in government procurement data. Terms like "Request for Proposal" (RFP), "Bid", "Awarded Contract", and "Contract Value" have specific meanings in this context and will be crucial for your data interpretation.
Filtering and Search Tools
Government procurement data can be extensive, so use filtering and search tools to narrow down your focus. Utilise keywords, date ranges, geographic regions, and product categories to refine your search and extract more targeted information.
Government procurement data provides insights into supplier performance, such as the number of contracts awarded, contract values, and delivery records. Analysing this data can help you identify reliable and high-performing suppliers for potential collaborations.
Government procurement data offers a unique perspective on market trends and demand patterns. By analysing the types of products or services being procured by governments and when, you can potentially spot emerging opportunities and align your offerings with market needs.
Analysing contract values can provide insights into the scale and scope of government spending. This information can guide your pricing strategies and help you identify markets with higher procurement budgets.
Government procurement data often includes geographic information, allowing you to identify regions where procurement activities are concentrated. This can help you prioritise target markets and tailor your strategies accordingly.
Government procurement data is dynamic and constantly evolving. Regularly monitor updates and new releases to stay informed about the latest trends, opportunities, and changes in the procurement landscape. Alternatively, get in touch with us to find out more. Our analysis can predict poor performance and bad tendering, and also savings opportunities. We can monitor market efficiency and look for new suppliers to increase competition for you.