Healthcare Tender Price Prediction Using AI
How Does Price Prediction Work?
Vamstar’s tender price prediction system is an advanced solution designed to forecast tender prices with high accuracy, leveraging the power of machine learning and artificial intelligence. Here’s how it works:
DATA COLLECTION: We begin by collecting all relevant data from available sources, ensuring a comprehensive dataset that captures the nuances of market behavior.
FEATURE IDENTIFICATION: Utilizing ML, GenAI, statistical analysis, and other data science methods, we identify key levers, or “features,” that significantly influence price fluctuations.
MODEL CREATION: These features are used to develop a sophisticated machine learning model. This model is trained to understand patterns and relationships within the data to predict future prices accurately
PRICE PREDICTION: Once trained, the model can predict the next tender price, providing valuable insights for strategic decision-making.
CONTINUOUS IMPROVEMENT: Our system continuously updates the model with new data, ensuring that the latest behavioral patterns are reflected in future price predictions. We also consistently enhance the features and refine the model to maintain and improve its predictive accuracy.