Opportunity Assay
assay (verb, noun):
testing of a metal or ore to determine its ingredients and quality
Let's start with that definition. Aware of it as I am in part child of Birmingham's famed Jewellery Quarter, I read about such process lately with the annual age-old Trial of the Pyx. It assays coins produced by the Royal Mint. As transported in their special wooden box, aka pyx. This ceremony has elements that predate the Magna Carta. In present form probably a little after, from 1248.
It is how silver earns its hallmark. Gives confidence to golden carat. Purity ratings that prove official.
It's no surprise the term has moved into many other fields where the assurance of quality is required.
The selling crossover is clear. When do we assay our sales opportunities? How does our qualification process lead to giving each its 'mark'? What do we do with the resulting assessment?
In the Mint's case, they use a (the) gold plate by which to compare. An acid test. Are you doing similar with your bids?
This is an exercise I have undertaken at fairly regular intervals down the years.
One essence of which is how does a bid you've committed to on your forecast bear any semblance to that previously won since held up as ideal?
Then taking a golden leaf from said pyx, are we also set up to examine each bid ourselves in such formal manner?
Remembering that we too must ensure accuracy of our own 'trial plate'. Namely the marker against which we adjudge qualification. As well as introduce new measures to ensure purity of continuing as new facts - whether levered by our or competitor ingenuity - emerge.