Originally Published on: SpendEdge |SpendEdge Webinar – Is advanced analytics shaping the way procurement teams will look at data?

In the dynamic realm of business, the procurement department, traditionally the cornerstone of organizations, is undergoing a transformative evolution through the integration of digital technology. Despite the persistence of conventional approaches for years, the influx of digital technologies heralds unprecedented growth. As businesses navigate the digital era, procurement teams take the lead in embracing innovative opportunities. The swift progress in data analytics capabilities empowers companies to adeptly store and process vast volumes of data, enabling real-time insights crucial for well-informed decision-making in procurement.

##Navigating Opportunities with Advanced Data Analytics in Procurement

For an extended period, businesses relied on intelligence systems to process historical information and identify prevailing trends. However, the limitations of these systems constrained their contribution to basic forecasting. Enter data analytics – a transformative force in procurement. Leveraging historical data, businesses can extract meaningful insights to guide strategic decisions. Big data and advanced analytics unlock doors to automated P2P procurement, predictive strategic sourcing, and the establishment of proactive supplier relationship management strategies. As the Internet of Things (IoT) evolves, the vision of a fully automated future gains momentum, liberating procurement teams from mundane tasks and enabling a focus on more strategic endeavors.

Conducted by SpendEdge’s procurement experts, this upcoming webinar on the 7th & 8th of Feb will delve into the following:

##Key Highlights of the Webinar: ###1. Decoding Predictive, Prescriptive Analytics, and Advanced Data Analytics

Unlock the potential of predictive analytics in achieving efficiency across the procurement process lifecycle.

###2. Probing the Efficiency of Predictive Analytics in Procurement

Delve into how predictive analytics streamlines the procurement process, enhancing overall efficiency.

###3. Non-Procurement Domains Reaping Significant Value from Advanced Analytics

Discover key non-procurement domains where advanced analytics can deliver substantial value.

###4. Crafting a Best-in-Class Advanced Analytics Strategy

Gain valuable insights into successfully establishing an advanced analytics strategy for optimal results.

Embark on a profound exploration of how advanced analytics is revolutionizing procurement, providing transformative insights and strategies.

Contact us.