Bidding is the process of submitting offers to purchase goods, services, or advertising placements. This bidding is often used in competitive environments such as auctions, procurement, or digital marketing. For example, in online advertising, bidding determines ad placements that are based on budget allocation and competition.

Use Cases of Bidding:

• Digital Advertising: Businesses bid for ad space on different platforms like Google Ads, Facebook Ads. The real-time bidding exchanges aim to maximize visibility.
• E-commerce & Marketplaces: Buyers bid on products in online auctions to secure competitive pricing for the products.
• Procurement & Contracts: When companies or organizations submit bids for government contracts or business partnerships. To win projects based on pricing and qualifications.
• Stock Market Trading: Investors place bids to buy stocks at specific prices of their choice in financial markets.

Benefits of Bidding for the Business

• Bidding helps to maximize return on investment with strategic budget allocation.
• Enhances the competitiveness of businesses in online and offline marketplaces.
• Enables real-time adjustments for optimal performance and flexibility.
• Chance to close the deal by crafting an analyzed bid.