E-Sourcing Forum » “Dynamic Database” Technology Significantly Advances Spend Analysis Capabilities

“Dynamic Database” Technology Significantly Advances Spend Analysis Capabilities

February 16th, 2010 at 10:02am David Bush - Iasta

In the world of Spend Data Management and Spend Analytics, not much new technology has come forth over the past 5 years, until now. We have been stuck with ETL’s requiring structured data templates, fixed databases, reporting cubes, and manual data classification to name a few. Each of these technologies had less-than-desired automation and difficulties, or “choke” points, along the Spend Analysis process of collecting data, integrating it, cleansing it, classifying it, and analyzing/reporting on it for company Spend insights and cost savings opportunities. The new technology is known as “Dynamic Database” technology, and it is an advanced data processing capability perfect for Spend Analysis, Spend Management, and Category Management.

Dynamic database technology can quickly become a very technical discussion, and although it is revolutionary, it is not widely known beyond database guru’s, such as Oracle engineers. It is not like you start out with an existing car with no motor and customize the engine (an existing technology and tailor it). Everything about a dynamic database is setup for a specific purpose… you guessed it… “dynamically”. Applying it to the world of Spend Analysis, with real world examples, can help explain how it has opened up new capabilities in Spend Analysis not previously available with older technologies:

Examples and expanded capabilities of dynamic database technology across the Spend Analysis process:

Data Collection. Each companies specific data and business of sourcing, and we mean everything, can be accommodated, including global data in foreign languages. The data capture process is dynamic, meaning any data can be collected in any format easily. No formatted extracts are required.

Data Validation, Integration, and Cleansing. How data is validated…is dynamic, as data can now be integrated in ways it has never been integrated before, and cleansed more thoroughly across the additional relationships that are created.

Data Classification. How that data is classified…is dynamic, so multiple taxonomies can be supported independently AND related to each other. The rules that operate on the data are dynamic, and can be applied leveraging years of project and industry experience, as well as specific company business anomalies.

Analysis and Reporting. How data is reported…is dynamic, as all data is in memory and many core views and metrics across the customer data can now be rendered. Virtually any data collected can be reported. Strategic Sourcing and Category Management programs can be mirrored and monitored over time (with easy data refresh). Any change in business requirements and analysis needs can be accommodated by quickly collecting pertinent data and making simple reporting adjustments.

Application Interface. What really advances dynamic database technology is controlling all data and the related QA processes through a Spend Analysis application interface, making it flexible and easy to use.

Dynamic database technology, combined with a robust application interface for data collection, cleansing, classification, and reporting, is very unique and very powerful for Spend Analysis. It is a huge differentiation and advancement from previous methods and technologies. It truly raises the bar regarding what companies can now do to enhance Spend visibility, find new cost savings, and manage those savings.

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Entry Filed under: Functionality, General, Spend Analysis, Technology / SaaS

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