“ To date , the process of normalisation , clustering , and classification of data have been the heavy lifters in the realm of data analytics in the procurement suite of software solutions ” ROLAND SIMON FORMER SENIOR VICE PRESIDENT AND PROCUREMENT SUBJECT MATTER EXPERT ELECTRIFAI
TECHNOLOGY
“ To date , the process of normalisation , clustering , and classification of data have been the heavy lifters in the realm of data analytics in the procurement suite of software solutions ” ROLAND SIMON FORMER SENIOR VICE PRESIDENT AND PROCUREMENT SUBJECT MATTER EXPERT ELECTRIFAI
business segments and geographies . This means that most procurement organisations interested in spend visibility begin with disparate data from multiple data sources .
“ To date , the process of normalisation , clustering , and classification of data have been the heavy lifters in the realm of data analytics in the procurement suite of software solutions . Although many spend analytics service providers claim to employ Machine Learning ( ML ) and artificial intelligence in the process , the reality is that
the software content of this process for most is still limited and requires heavy human input and quality control . The challenge with regard to this cleansing process is that in order to teach algorithms to recognise correct patterns and place data in the proper fields , massive amounts of clean data and human inputs are required . Most service providers are not necessarily incentivised to make these efforts . As a result , spend analytics software solutions are typically extremely time-consuming and labourintensive and thus expensive . For those interested in automating this process , technology is available today . However , the returns on this investment are not certain .
“ What is the future of ML and AI in the procurement function ? Where is the genuine opportunity to bring value and advance the function ? In recent years , procurement leaders and their organisations have sought more access to integrate their activities
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