Art of Procurement 840: Why Data Literacy Matters More Than Ever in Procurement W/ Satvinder Panesar
"The value isn't in giving them the coffee beans and hoping they take that away and make a cup of coffee – what they need is a drink. So instead of giving them the data, do the extra steps and pull out the insights for them." - Satvinder Panesar, Data and Analytics Strategy Director, AstraZeneca
Procurement leaders are surrounded by data, but turning numbers into true business impact is a new kind of challenge.
As AI and analytics tools promise even more information, the real differentiator is knowing how to interpret, validate, and act on those outputs… before your competitors do.
Satvinder Panesar, Data and Analytics Strategy Director at AstraZeneca, joined Philip Ideson at ProcureTEX in London. Philip was there at the invitation of Beroe to speak with some of their customers about turning data into actionable insights.
In this conversation, Sat breaks down the evolution of procurement analytics, explains why data literacy is a must-have skill, and points out how any leader or team can begin building those muscles, starting with the tools they already have.
Expect a practical, honest conversation about the skills gap, the dangers of outsourcing data thinking, and how procurement teams can take charge in a world of increasingly complex analytics:
- Why "insights" matter more than raw data in procurement
- How to bridge gaps between data, category, and analytics teams
- Practical first steps to improve procurement data literacy
- What AI can (and can't) do for procurement professionals
Links:
- Satvinder Panesar on LinkedIn
- AOP Provider Directory: Beroe
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- Subscribe to Art of Procurement on YouTube