Big Data in procurement offers significant opportunities for improving sourcing, process efficiency, and agility. Big Data refers to the analysis of large amounts of data to generate business value. Many procurement organizations currently rely on existing data warehouses and spend cube solutions, but there is a vast array of data from internal and external sources that can be leveraged through a Big Data methodology. Today, large amounts of procurement-related data are generated, such as spend data, supplier assessments, and negotiation information. External data sources, such as the Ariba Network open supplier database, can also be accessed to include relevant data. By combining existing internal operational data with macroeconomic data, companies like DHL have streamlined their operations and improved supply-chain efficiency.
