Traditionally, procurement analytics have focused on understanding past procurement spend and supplier performance, but increasingly the focus is shifting toward AI (Artificial Intelligence) and ML (Machine Learning) driven prescriptive decision-making. This reflects an evolution from "descriptive" analytics to "prescriptive" analytics. Understanding the impact of implementing prescriptive analytics is crucial to the success of any data initiative within a procurement organization.
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Traditionally, procurement analytics have focused on understanding past procurement spend and supplier performance, but increasingly the focus is shifting toward AI (Artificial Intelligence) and ML (Machine Learning) driven prescriptive decision-making. This reflects an evolution from "descriptive" analytics to "prescriptive" analytics. Understanding the impact of implementing prescriptive analytics is crucial to the success of any data initiative within a procurement organization.