Complexity / 2019 / Article / Tab 5

Research Article

Public Procurement Announcements in Spain: Regulations, Data Analysis, and Award Price Estimator Using Machine Learning

Table 5

Description of the dataset and the errors between tender price and award price by number of received offers.

DescriptionGroups by competitiveness
No competitivenessLow Received offers (2–4)Medium Received offers (5–10)High Received offers >10

Total number of tenders in the dataset18,79022,71411,5535,271
Total number of tendering organisations1,9562,5532,1351,053
Total number of winning/award companies7,5509,5555,2222,402
Mean received offers by tender1.02.806.7320.01
Mean duration of tender’s works401.07 days396.65 days370.95 days277.50 days

Mean tender price€354,882.49€388,526.27€785,455.49€1,301,031.70
Median tender price€60,500.00€75,000.00€121,000.00€254,376.00
Mean award price€341,874.79€323,611.87€460,548.68€836,188.79
Median award price€58,984.50€64,833.00€90,689.00€174,986.00

Median absolute error (MdAE)€93.50€7,661.50€22,854.00€76,420.00
Median absolute percentage error (MdAPE)0.12%13.39%29.63%45.94%
Mean absolute error (MAE)€13,966.65€68,244.60€326,698.33€464,907.75
Mean absolute percentage error (MAPE)10.02%25.65%54.48%77.98%