Turning data into action: Three ways to improve your usage of data

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CPOs are increasingly looking to their teams to build data-driven strategies. More than two-thirds (70%) of procurement functions espouse the importance of data-driven decision making, according to Procurement Leaders’ 2018 Data & Technology report. Yet fewer than two-fifths (39%) believe they use data effectively. Recognising the importance of putting information to good use is one thing, turning the idea into practice is another entirely.

 

It isn’t a question of building or buying a system and hoping it does that job. Although technology is essential, it is only an enabler, you need to have the right team and mindset to get the most value.

 

This article is a piece of independent writing by a member of Procurement Leaders’ content team.

Harry John

Harry John -

Senior Research Analyst, Procurement Leaders

Harry John is features writer at Procurement Leaders. Harry draws on over four years' experience researching and writing about procurement. His main interest is in how the function is being shaped by emerging business trends. Find Harry on Twitter by searching the handle: @aharryjohn.