Changing tactics by agencies, requires better quality market intelligence by industry
Wednesday, January 02, 2013
Posted by: Guy Timberlake (theasbc.org/visionary)
The ability to effectively gather, assess and leverage information to support decision-making has and always will be a key to success in government contracting.
While a formal market intelligence activity should be the basis for business development, capture efforts and other aspects of running a government contracting business, cultivating usable information from disparate pieces of data and then confirming its value is lost on some and disregarded by others.
In light of the very visible reduction in agency-facilitated industry days and decreased participation in industry-hosted events, federal contractors across the board will be compelled to shore up how they collect, contextualize and utilize everyday information. Better information and better understanding of that information directly impacts relationship management, how organizational resources (primarily personnel and finances) are allocated, and how companies arrive at go/no-go decisions on everything from conference and trade show participation to actual business opportunities.
A number of companies I know expressed having to apply new and more sophisticated levels of due diligence for responding to Requests For Information(RFI) due to the RFP-like nature and volume of information being requested by the Government.
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