Are You Using Clean Data and Predictive Analytics?

February 15, 2022 by Melissa Evans

Are you putting the data your operation is generating to work? It tells a story. What you are purchasing, when you are purchasing, how much you are purchasing and the cost of it all. Unfortunately, the majority of operators do little to nothing with their data. Some don’t collect it at all.

Talk about a wasted opportunity!

All that purchasing data can be combined and used to make more informed business decisions. Your data—which was once impossible to analyze, can now be cleaned, organized, and integrated; leading to tremendous insights and savings opportunities.

Why Should I Care About Clean Data?

When your data is cleaned and organized, you’re able to identify pricing errors, savings opportunities, earn more rebates, and gain better insights and intelligence about your operation.

Don’t you want to know if you’re being overcharged for ingredients? Don’t you want to know if there are rebates on the items you’re already purchasing? Don’t you want to make sure you’re accurately forecasting? Clean data can help you do all this and more.

Once your data is cleaned, you now have leverage to get better pricing and discover higher revenue products that bring added value.

What Happens Once My Data is Cleaned and Organized?

Excel spreadsheets are so 2000. These days, it’s all about visuals such as dashboards and elevated reporting.

Gathering and cleaning the data is only half the battle. Now it’s time to see it all – the bigger picture – the full story of your purchasing history.

Technology such as InsideTrack reads your data and gives you access to easy to read dashboards that put your most pressing procurement issues right at your fingertips. We use pre-built reports giving you a look into your purchases by time period, location, and category. We compare your purchases to commodity markets, contract compliance, rebate claims, payments and more.

Trust us when we say it’s beneficial to have the full birds eye view of your purchasing habits these days.

Gain insights in an instant with clean data, instead of hours. Nobody has time for dirty data.

How Do I Clean My Dirty Data?

At InsideTrack, we have many operators who purchase items every single day and we collect all that purchasing data. Our spend management technology can audit invoices and verify contracts prices being honored and uncover areas for improvement in your purchasing. We can help in areas such as food cost management, inventory, and helping you find your cost of goods sold.

Partner with us today and get access to spend intelligence and insights your operation can use to improve your purchasing.