Today’s purchasing departments are pivotal points within the company and have wide - ranging responsibilities. After all, the supply chain as we know it is gradually losing ground and being replaced by the supply network or the supply chain network. This gives rise to a growing degree of interaction between manufacturers, suppliers, retailers, and customers in the supply network, which means that not only is more data being generated, it’s also being created in an increasing number of different systems.
On top of this come issues from the world of CSR. For example, the CSR reporting obligation puts a special focus on the supply chain, with a view to creating the transparency that is required. All of a sudden, procurement departments are responsible for so mu ch more than just goods procurement – they also have to deal with new challenges and parameters like production facilities and working conditions, even drafting a supplier code of conduct – in addition to their regular daily work.
It is virtually impossible to retrieve all the information needed from the different data sources using conventional tools that typically display only a fraction of the data.
When it comes to analyzing massive amounts of data, insight engines play to their strengths:
- Natural language queries: Search queries can be formulated in natural language. The insight engine interprets the query and returns relevant search results in a 360 - degree view.
- Comprehensive: All the relevant data is consolidated into a company search by means of connectors.
- Proactive: In addition to the search queries, further information is provided that was not explicitly included in the search, but – based on an intelligent semantic analysis of the machine or application – is relevant in context.
- Graphic: The results are clearly arranged on a dashboard.