Many data scientists expect that data is already cleaned, ready in the database for the sexy stuff – visualization and predictive insights. They don’t realize that there are many steps to dealing with data – how to access it, which SQL database, how should it be manipulated and is further cleaning necessary for processing. Yet, according to a recent survey by Crowdflower published in Forbes, data scientists spend 80% of their time on cleaning and data preparation. 57% of them (data scientists) regard cleaning and organizing data as the least enjoyable part of their work. Data science use cases …
Supplier Planning: It’s all about Big Data
Over a fifth of 400 enterprise buyers blamed supplier failure for higher insurance premiums, damaged reputation and loss of customer trust according to a Tungsten report. The challenges faced by businesses include cyber fraud and siloed data which impact customer service, product quality and operations. Is it really all about the data? Yes. Data is growing faster than ever before and by the year 2020, about 1.7 megabytes of new information will be created every second for every human being on the planet. IDC estimates that unstructured content already accounts for a staggering 90 percent of all digital data, much …
Supplier risk management is all about the pre-plan
Supply chain failures compromise the ability of an organisation to operate effectively and in extreme circumstances even to survive. Yet many businesses struggle to mitigate the risk of such failures due to poor vendor risk management: research from CIPS suggests fewer than half of procurement professionals consistently put strategies in place to counter the dangers, while similar numbers haven’t analysed the potential costs associated with disruption. See the rest of this article and tips from VendorMach here
Cyber security and your business risk
According to Allianz’s Risk Barometer 2017, Cyber Incidents is a top global business risk in the UK and Germany in 2016 while Business Interruption (related to supply chain risk and interdependencies) is the top business risk in the United States and France (with cyber incidents, the 2nd top issue in US and France) Cyber incidents such as attacks and breaches have grown in frequency. Breaches hit a new record in 2016, soaring to 1,093 and accounting for 37 million records, up from 780 incidents in 2015 per the Insurance Information Institute (III). According to a new report from the Institute, …
Supplier purchase order analytics in e-commerce
Last week VendorMach had a busy couple of days exhibiting at CogX 2017. An AI forum drawing audiences from startups and corporates, it was a good mix of people, a vibrant atmosphere, and some of the best brands in tech. We had a number of stimulating conversations and continue to learn that supplier relationship management is a pain point across industries. Supplier purchase order analytics in retail e-commerce Retailers find themselves operating ever more complex supply chains. An online fashion retailer in particular prides themselves on top customer service and efficient delivery and return handling. This involves management of thousands of …
VendorMach talks use of machine learning approaches on CIOReview
VendorMach looks into the future of AI and supply chain digitization with CIOReview. Here is an excerpt – Do you believe that artificial intelligence will change the modern way of living? How is it impacting society? Sure, it will change core behaviors and expectations – and cause less reliance on humans. One can argue whether we really need our own driverless cars or personal robots? If we rephrase the question, can certain industries use driverless cars or robots to improve speed, reduce error and accuracy that ultimately serve consumers then yes, it will be a positive impact. To reach the …
Nine steps for CIOs towards Supply Chain Management
Due to the growing digital footprint and impact of systems and architecture with business processes, the role of a CIO has become more important than ever. Here are nine steps they can take to be successful: 1. Make time to manage both IT and the supply chain CIOs juggle many different priorities and struggle to meet competitive demands As IT and business processes become more and more interconnected, CIO’s should contribute more to business strategy such as the supply chain. Many organisations have a centralised ‘Information’ function. Enterprise resource platforms (ERPs) bring together the IT and business processes for a …
Time to drop ‘cyber’ in security?
Find out VendorMach views in this ITPro in-depth feature on the subject
Finalist, Prio Jump Start for the Retail sector
VendorMach is among the top 16 finalist companies that will advance to the Prio bootcamp, a business acceleration program for the energy sector.
Does Industry Matter When Collecting Payments?
According to VendorMach data, yes industry matters when it comes to collecting receivables. VendorMach sorted through 13,000 UK private companies records with trade debtor receivables data in its database. After filtering for companies with revenue, excluding firms with 30 days payment or less (best practice) and further standardizing the industries, we were left with 1500 records to analyze and the top 10 B2B industries with a penchant for getting paid very late. Of the 1500 records, the median DSO (days sales outstanding – the number of days it takes to collect receivables) was used. To further provide context with the …
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