High-end procurement analytics require Big Data – a centralized, clean and accessible source of internal and external supplier information. Its usage in companies (such as procurement departments and business functions) offers huge potential for savings and meeting an increasing need for detailed supplier information.
Data Curation & its role in Big Data?
Data curation is an actual organization and integration of the collected data. A logical field where all supplier, transaction, and commodity information is stored. Its role in Big Data is maintaining and managing the metadata, rather than the database itself. Data Curation will not only create, manage, and maintain your data, it will help you determine the best ways for implementing it as well.
Data Curation is a “gap” in data management because it’s not the main focus of analysts, IT developers, and data scientists. Therefore, it requires special skills and business and data know-how to use cleansing and curation activities in order to transform your data into perfection. Companies that do not have the capabilities to implement these kinds of changes are partnering with existing companies that can streamline Data Curation.
There are many reasons for doing so.
Streamlined Data Curation benefits?
a) Data quality
When dealing with high volume data, quality management is something that should be absolutely prioritized. It is one of the main reasons why a growing company should collaborate with streamlined Data Curation companies, such as Titan SIM.
We cleanse our data, making it exceptional.
b) Key information
By leveraging 3rd party data sources, own supplier information, and the provided public or private supplier information, data can be significantly enhanced and enriched, making it just perfect for meeting the need for detailed information in fields such as risk, regulatory compliance, environmental, social and corporate governance requirements.
We provide best-in-class data, at your fingertips.
c) Data lifecycle
Managing Data adequately remains one of the biggest challenges in the supply information business. It requires monitoring data feeds throughout their entire lifecycle.
We are maximizing the potential of data.
d) Data Analysis
Analyzing data sets and outlining information gaps can provide various solutions for improvements.
We use data to create actual business value.
e) Database Scalability
A scalable data platform welcomes all changes in regards to the expansion of data traffic and volume. Regardless of its size. Streamlined Data Curation is highly scalable, with out-of-the-box offerings, such as onboarding supplier buckets (e.g. city regions).
We provide data up and downstream functionalities to our customers.
Used properly, the power of data can be transformational. Streamlined Data Curation will not only influence daily technology challenges on a company level, but will also turn all supplier information into searchable and customized profiles making it Premium.
Let us take you on a digital journey!