Analysis involves breaking down a complex whole into its constituent parts for subsequent investigation. Analysis is relevant to procurement in terms of spend analysis, category analysis, market analysis, price or cost analysis and bid analysis. In each case, we are seeking better understanding of the topic by profiling and describing the subject in different ways. Spreadsheets can help in terms of analysing data, and many procurement processes require some analysis of trends and patterns in order to reach a better understanding. The application of technology to procurement has largely focused upon providing better tools to analyse data and produce better information. Good decisions require not only good data and better information, but also the knowledge to interpret the information and the wisdom to make informed choices.« Back to Glossary Index
Discover the world’s largest Glossary of Procurement terms
With over 800 Procurement specific terms (and growing) you will find everything you need to know or thought you knew about the Procurement function. Our aim is to provide you with a comprehensive list collated from the Comprara Groups hub of training and consulting source materials.The Procurement Glossary has been compiled by industry expert Paul Rogers.