There are a number of ways that government procurement data can help export agencies, including:
- Identifying New Markets – By understanding what goods and services are being procured by government entities, export agencies can identify new markets that may be open to their products or services. This data can also be helpful in terms of understanding the needs of these new markets so that export agencies can tailor their offerings accordingly.
- Understanding Changes in Existing Markets – Government procurement data can also be helpful in terms of understanding changes that are taking place in existing markets. For example, if there is a decrease in the procurement of certain products or services, this could indicate a change in the market that export agencies need to be aware of. Similarly, an increase in procurement could indicate an opportunity for export agencies to increase their market share.
- Benchmarking Against Competitors – Another way that government procurement data can be helpful is in terms of benchmarking against competitors. By understanding what other export agencies are selling to government entities, export agencies can adjust their own offerings to make sure they are competitive. This data can also help export agencies understand where their competitors are selling so they can identify new opportunities.
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