The Future of Procurement Analytics: How to Get BIG Value from BIG Data

 



Business is becoming more and more data driven – within many leading enterprises, data has become a major driver of strategy and a major driver of performance reviews. Politics, sports, and media are all becoming more and more data driven – procurement is, too.

Yet, the average procurement group struggles to manage its data AND frame and analyze it fast and well enough to drive the majority of its key decisions. Procurement’s “big data” will continue to grow in quantity and importance. Procurement teams will need systems, processes, and capabilities to make sure they’re using the data to make the best decisions.

Join us on June 23rd at 2 pm ET for a discussion of the future of procurement analytics and the strategies and approaches that will help procurement leaders get big value from their big data. Presenters will discuss in great detail:

  • The state of procurement analytics across the source-to-settle process – from spend analysis to supplier management to eProcurement – including the CPO’s “quest” for visibility in each of these areas and the challenges they encounter

  • A working definition of Big Data for procurement, which includes spend, sourcing, and supplier information, as well as operational and process information up and down the source-to-settle process.

  • The future state of procurement analytics, and how machine learning and predictive analytics are breaking new ground towards enhanced visibility and agility for business leaders and practitioners, alike.