“Once you have clean data, it becomes a business asset. You can now answer questions from it. When it’s sitting there in a data swamp – it’s not even a data lake – you cannot leverage any type of insights from it.” - Robert Birch, Director, Data & Analytics, SpendHQ

Without a strong foundation of reliable, clean, and accessible data, it is difficult for procurement to achieve and sustain success, and it may also expose the business to increased risk, waste, and missed opportunities.

Data underpins every decision procurement makes, and it should never be an afterthought. So how should procurement approach some of their most common data quality problems, and what kind of resources and approaches do they need to create the ideal data environment that will support differentiated decision making?

To answer these questions and more around procurement’s complicated relationship with data, Philip Ideson recently spoke with Andy Moir, Director of Product Marketing, Mitchell Couper, Vice President Delivery and Business Intelligence, Robert Birch, Director, Data and Analytics, all from SpendHQ.

In this episode, they discuss:

The importance of prioritizing, improving, and maintaining data quality
Assessing your data maturity and the value of data enrichment
Where AI can (and can’t) support data hygiene and management

Links:

Four Ontological Arguments in 12 Minutes | (MoR No. 66)