AI in Procurement: From Bad to Good Data

AI in Procurement: From Bad to Good Data

Watch instantly on-demand | 45 mins

Summary:

Data is crucial for procurement analytics and more fact-based decisions. Businesses are saturated with data, information, and inputs from multiple internal and external sources. We often struggle with the fundamental ability to manage our data and transform it into actionable insights.

As a spend management solution provider, we often hear procurement professionals say “bad data in, bad data out”, this is a misconception. Artificial Intelligence (AI) can help you utilize all data irrespective of whether it is good or bad.

In this webinar, we will showcase how we utilize the simplest statistical techniques to complex transformer models such as BERT to standardize and fill the missing holes in bad data. We will also present how we can utilize natural language processing models to extract valuable data usually lost in free text description fields.

This will be the first webinar in a series about AI in procurement. Here we will focus on transforming "dirty" data into valuable procurement insights.

This webinar will cover:
  • A short introduction to what AI is and why it is an important step in data preparation for procurement analytics
  • How data processing with the help of AI can improve data quality, with example
  • Using third-party APIs and classification algorithms to enrich data, showcasing examples
  • A live demo of how Ignite Procurement drives smarter, fact-based insights

This webinar is suitable for professionals in procurement, finance, strategy, business development, and others with an interest in the topic.

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SPEAKERS

Lead Data Scientist: Mosaira Rhodes

Mosaira Rhodes

Lead Data Scientist

+47 941 62 121 mosaira.rhodes@ignite.no Linkedin

Mosaira is Lead Data Scientist and Customer Success Manager in Ignite Procurement. She ensures that our customers achieve success with our spend management solution.

Data Scientist: Ingvill Andrea Røed

Ingvill Andrea Røed

Data Scientist

+47 928 81 299 ingvill.roed@ignite.no Linkedin

Ingvill is a Data Scientist in Ignite Procurement and she uses her problem-solving abilities to help improve our customers' data.

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