Why is data analytics important in sourcing?

Group of answer choices

A company may have multiple buyers handling the buying process on a daily basis which is subject to errors, delays and high cost. Data analytics can help monitor the buying process and balance the workload.

The global supplying market is changing constantly with numerous new suppliers emerging and corporate changes taking place frequently. Identifying and selecting the right suppliers requires intensive data analysis and business intelligence.

A typical company may spend $100$s of millions of dollars on thousands of suppliers each year. Analyzing the spend data $($PO$,$ invoice, receiving data$)$ can be insightful to understand the cost and risk.