So, you’ve just shelled out big money to have it classified and your data will almost certainly be correct when you receive it, but it will only stay accurate for a short period of time.
For years, experts have urged business leaders to prepare for the coming AI disruption. Realizing the amazing potential of these emerging technologies, they argued, would require businesses to overhaul how they manage data. Yet with the economy booming, many found it easier to push tricky data questions into the future.
We all think we know what dirty data is, but it can mean very different things to different people. At it’s most basic level, dirty data is anything that’s incorrect.
Within procurement, it could be misspelt vendors, incorrect invoice descriptions, missing product codes, a lack of standard units of measure (e.g., ltr, l, litres), currency issues, duplicate invoices or incorrect/partially classified data.
Artificial Intelligence and the Pandemic
Artificial Intelligence (AI) defines the 21st century, impacting and driving transformation across every business and industry. With the new norms thrust upon us due to the pandemic, businesses and industries have had to find ways to transform overnight. Previously, it may have taken several years for an organization to make an incremental change or improvement.
Transparency is the lifeblood of modern business transactions. From real-time international wire transfers and electronic health records to tracking transportation or delivery options, digital transformation has revolutionized dozens of industries by unlocking greater visibility, speed, and efficiency.
At the end of a dramatic year for technology providers big and small, Richard Grove from digital consultancy Caution Your Blast considers five issues, opportunities and developments that will dominate the start of this decade.
Can you outline why your team embarked on this project and the problem that needed to be solved?
In this episode of the Sourcing Industry Landscape, Dawn Tiura interviews Nikesh Parekh. Nikesh Parekh is the CEO and Co-Founder of Suplari, an AI-powered spend accountability and financial performance system. Nikesh’s journey into procurement wasn’t a straight line.