Fairfax, Virginia, April 4th, 2019 – DeeepBD Inc‘s newest features could close the gap for business intelligence gathering in the government contracting field by leveraging the latest advancements in cognitive computing technology. DeepBD has developed a tool that searches not only keywords but, concepts. The concept of search capability allows customers to examine business opportunities that are tailored to their specific interests.
The Challenge For Government Contracting Officers
Many government contracting officers lack an accurate means of searching and reviewing historical acquisition documents when they are crafting new strategies for winning current and future contracts. More specifically, the data is only accessible via a limited ‘key-word’ search. Government acquisition data is unique as it includes many different forms of data like spending documents, contracts, solicitations, vendor information, and etc. Additionally, key-word searching is completely inadequate when researching complex acquisition efforts to use as models for new contracts. Contracting officers are forced to conduct lengthy research for anything beyond a simple contracting effort. Then, these types of research issues result in massive inefficiencies like overspending, delayed contract awards, and reliance on familiar contractors or awards to unqualified vendors.
Furthermore, the problem of historical blindness is common to acquisition offices across the entire US Government. These bureaucracies are not small – the Department of Defense alone has around 156,000 civilian and military employees in its acquisition workforce. Also, compounding the situation, each government agency has its own internal data sets and their own access and controls on federal contracting data. The inability to quickly and efficiently access historical information exacerbates a problematic process that is already breathtakingly complex.
Finally, acquisition Reform is a National Security Issue with the potential to cost American lives in the horrifying and hopefully unlikely event that there is another massive war that involves the United States. The U.S. government’s current acquisition process kills innovation because it is complex and inefficient. Intricate Regulations and agency confusion leads to cost overruns and material failures. Also, DeepBD Inc. believes that the problem does not solely rest on the 29,479 sections of the Federal Acquisition Regulations (FAR). Regulations like the FAR can often limit productivity in government contracting, but DeepBd believes the FAR can be part of the solution for innovation. Overall, contracting officers need modern tools to implement the regulations efficiently and safely.
Introducing DeepBD’s Unquie Concept Search Capability
DeepBD has designed a system that enables the entire government at large to search available databases using concepts, not just keywords. This revolutionary capacity is the first of its kind geared toward the Federal Government. End-users will be able to search the ocean of government data using abstract language that paints a word picture of what they are looking to achieve. Whereas keyword searching forces users to focus on a specific term that may be representative of only a portion of what they hope to accomplish.
Also, the concept search tool can make searching through complicated regulations in the government easier by using semantic reasoning technology. We use artificial intelligence to ranks the artifacts by relevance or degree of similarity between concepts. Our system has been trained extract and understands all of the meaningful words and concepts from multiple datasets. Contracting officer can search statements of works or other complex documents to search for relevant business opportunities.
Moreover, our research has identified numerous opportunities and entities where the concept solution can be applied to address other problems that involve bulk data acquisition, processing, and recall. In the private sector, the market for our solution is limitless. Virtually every industry faces problems with bulk data and how to recall it in a way that provides companies with a competitive advantage. From hedge fund managers making informed decisions to lawyers addressing cases with complex discovery materials. DeepBD can solve big data problems and institutional inefficiencies by innovating industry tools for more conceptual research.