Big data could be an important tool for federal procurement shops, but its usefulness depends on finding quality data and understanding how to use it to track vendor performance and pricing.
Several recent studies — a Government Accountability Office report, a CIO survey by TechAmerica and the IBM Institute for Business Value’s “Chief Procurement Officer Study” — all point to the same conclusion: Analytics and acquisition need to go to more of the same parties.
The Oct. 9 GAO report states that many agencies’ incomplete methods of performing market research affect their ability to make informed decisions about procurements.
Federal agencies are required by law to conduct market research, which the Federal Acquisition Regulation defines as the process used to collect and analyze data about capabilities in the market that could satisfy an agency’s procurement needs.
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