Digital Analytics: The Data Foundation for the Next Procurement Revolution

Wolfgang Schnellbächer and Daniel Weise
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Wolfgang Schnellbächer: Boston Consulting Group
Daniel Weise: Boston Consulting Group

A chapter in Jumpstart to Digital Procurement, 2020, pp 111-115 from Springer

Abstract: Abstract The previous chapters have shown how drastically digital will change both the work and impact of procurement. This change will particularly affect the way in which decisions are made—much less dependent on intuition and more on big data leveraged for AI-based algorithms. As digital analytics detects patterns in existing data and predict future developments, it helps buyers to make smarter, better-informed business decisions than ever before. Big data also builds the foundation for AI and blockchain, facilitates collaboration between business partners, and ensures that robotics makes the right decisions. Understanding data and performing the right analyses thus serves as the backbone of digitization.

Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-51984-1_13

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DOI: 10.1007/978-3-030-51984-1_13

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