Bid win-lose prediction
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When making a bid on any project it can be hard to select the optimal price that will catch customer’s attention, while keeping the project in the optimal pricing margin. This problem is an all time issue for a seller.
Finding an optimal price to quote in response to a Request for Quote (RFQ) from a prospective buyer may be challenging.
The optimal price is determined by maximizing expected profit, given the underlying seller costs of the bid items and a computed probability of winning the bid as a function of price and other bid features such as buyer characteristics and the degree of competition.
Here, at MLTune we have accumulated experience to deliver bid management solutions.