How Real-Time Analytics can improve even sales during COVID-19 and other global crisises

Over the past couple of years, Real-Time Data Analytics has been gaining a lot of attention, especially for Procurement departments which require historic data on product pricing and vendors to drive a competitive advantage over others. However, only a few procurement functions are currently making the best use of the huge amounts of data they generate. But, why is this so important?Studies show that statistical models and advanced analytics can help procurement departments save 3-8 percent on costs, as compared to traditional pricing models. Data analytics makes it possible for procurement managers to uncover new insights from data to use in negotiations, vendor segmentation, and...