It's true that analytics is one of the core competencies for your procurement organization. While most analytics (i.e., spend analysis) have traditionally focused on reporting what has already happened, we think the more valuable analytics center around what will likely happen and what needs to be done in order for that to happen. Pierre Mitchell, chief research officer at Spend Matters, has more in this complimentary research brief, The Future of Procurement Demands Smarter Spend Analytics: Here's Why.
An excerpt: "These forward-looking analytics will increasingly integrate not just internal data but also mass volumes of unstructured external “big data,” both of which will be trained by knowledge experts, including large communities of users belonging to next-generation, cloud-based analytics solution providers. This paper explains the characteristics of 'intelligent' analytics technology."
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