The good news is that you don’t need to spend a fortune on subscriptions to get started with federal contract data. All you need is the right set of tools to dive into the data effectively. Here, we’ll explore “The Big Three” tools that provide access to federal contract award data, which is updated as recently as yesterday and stretches back to 1970. Each tool has its unique interface, reflecting the evolution of federal data systems, and allows for data export to varying degrees.
1. FPDS.gov
This is the oldest system for accessing high-level contract award data. It’s perfect if you’re looking for straightforward facts without the need for graphs or charts.
- Pros: Ideal for quick skims and verifying gut-checks. You can track year-by-year changes in contract awards from specific agencies or vendors, making it a great tool for initial market insights.
- Cons: Limited to viewing 101 out of 400+ data fields. Exporting is restricted to 26 pre-selected fields, missing three critical ones. While it’s helpful for focus, it won’t provide the full story your sales team might need.
2. USASpending.gov
This tool is visually appealing and excellent for creating reports that require charts, graphs, and visual representations of data.
- Pros: Displays query results in charts, graphs, and maps, and allows for spreadsheet outputs. It includes up to 271 data fields in export reports.
- Cons: You can’t choose which data fields to include in your report, requiring extra time to adjust your export file. Crucially, it lacks three essential fields that identify key personnel in the acquisition process.
3. SAM.gov (AdHoc Reports)
This is my personal favorite and the one I recommend to clients for focusing on the best federal prospects.
- Pros: Offers a comprehensive range of over 400 data fields. The query builder tool lets you select and order fields to answer specific questions. Uniquely, it includes contact information for individuals involved in the acquisition process, which is invaluable for sales teams.
- Cons: Using it effectively requires regular practice and skill-building, as it can be time-consuming and frustrating. It doesn’t provide charts or graphs, so you’ll need to be comfortable with spreadsheets or seek help from a spreadsheet expert. Be cautious when using AI for data interpretation, as inaccuracies can occur.
Conclusion
Analyzing past federal contract data can be challenging, but mastering it is a game-changer. Whether you tackle it yourself, get assistance, or have it done for you, this analysis propels you into the major leagues of federal contracting. Embrace the learning curve, and you’ll uncover opportunities that others might miss.
