Cognitive Analytics and the art of solving complex problems.

Embed AI in your Spend, Contracts and Sourcing.

Cognitive Analytics and the art of solving complex problems.

Embed AI in your Spend, Contracts and Sourcing.

by admin
COGNITIVE ANALYTICS

Cognitive Analytics is the process of applying human-like intelligence to bring together intelligent technologies like semantics, artificial intelligence algorithms, behavioural science with learning techniques such as deep learning and machine learning.

What We Do

Cognitive Analytics bridges the gap between large volumes of information and the need to make real time decisions. A deep understanding of information helps companies draw quick inferences to improve the quality of enterprise suppliers, supplier risks, competitive positioning and adopt a deeper approach in customer service.

In the age of big data, it isn’t just ones and zeros and covers behavioural connections, thoughts, actions, motivations, vision, and predictions. With capabilities like machine learning, image recognition and deep learning, the underlying data helps see in all directions and get to smarter, enriched insights swiftly.

When these technologies are applied, the respective Cognitive application becomes more effective by learning from the interactions with the data and humans, over a period of time. A Cognitive Analytics System searches the entire data within the knowledge base to determine the real-time solutions.

How We Do

A cognitive system creates competitive advantage to the business, providing real-time answers with the ability to search massive amounts of information and making sense of context, and computing the most likely answer. The benefits are considerable, opening up opportunities to mine untapped data sources; provide highly personalised services; improve service consistency and quality; and enhance and amplify knowledge sharing.

With cognitive technology, insights are extracted from the dataset and this helps in building customised contracts and understanding the vulnerability from a microscopic view. It also provides better provisions for protecting for at risk suppliers.

Cognitive Analytics helps in dealing with the basic elements of social impact such as climate change, food availability, water, and energy resulting in enabling supply chains and government to zero in on the sources of pollution or vulnerabilities.  It also helps determine the anomalies which decrease the deforestation, track urbanization, mitigate diseases and also help control the ecosystem.

Benefits of a Cognitive Analytics

Cognitive Analytics remove biases from the analysis as well as replicate, compliment and enable human thinking and action. The benefits are particularly relevant for organisations that want to spotlight Procurement opportunities within their tail spend.

Cognitive Analytics helps leverage procurement data within the enterprise and across the supplier network, providing bias-free insights that increase supply chain flexibility and enable real-time changes to negotiate optimal pricing.

Cognitive Analytics evaluates supplier diversity, sustainability, supply chain responsibility to meet expectations of stakeholder and helps increase speed and value.

Exponential technologies like Artificial Intelligence and Machine Learning drive operational efficiencies and re-engineer supplier risk analysis and workflows to reduce third party supplier risk.

40%

Contracts lose 40% value during lifecycle. Poorly managed contracts affect bottom lines up to 9%. Average costs for managing a contract is increasing. All these can be managed better by cognitive analytics.

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Social sector enterprises face great difficulty when attempting to grow exponentially the reach of their impact into new markets.

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