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Panel Discussion: Why You need a Data Analyst

Join a panel discussion with top procurement officers from leading universities as they delve into the critical role data analysts play in optimizing spend analytics, identifying savings opportunities, and driving strategic sourcing decisions.

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Panel Discussion: Why You need a Data Analyst

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  1. Panel Discussion:Why You need a Data Analyst Or Why Data Geeks Rule

  2. Panelists • Bill Cooper • Associate Vice President & Chief Procurement Officer, Stanford University • Sandy Hicks • Assistant Vice President & Chief Procurement Officer, University of Colorado • John Riley • Executive Director of Purchasing and Business Services, Arizona State University • Lisa Deal • Purchasing Director, University of Florida

  3. Discussion Questions / Agenda • Accessing data – what does it take? • What can a data analyst do? • Can a buyer do data analysis? • How do I create a data analyst position? • Data use success stories

  4. Accessing Data • Where do reports come from? IT? Finance? Vendor? • Total spend comes from lots of places • Is PO data the same as AP data? • PCard • Direct bill • Travel • Typical data: • Number of PO’s generated • Total $ of PO’s generated • Total spend • By vendor • By accounting code Spend Analytics Tools Data Warehouse Savings Opportunity Cycle time Maverick spend/ Contract compliance The data analyzed changes over time

  5. Can a buyer analyze data?Panelists share experience

  6. What can a data analyst do? Panelists share experience • Evaluate other contracts for savings based on your institutions spend patterns • Identify non standard pricing campus-wide • Departments paying different prices for same product • Assist in solicitation formatting and response evaluation • Validate price increase requests and impact to campus • CPI, PPI and other indices • Analyze spend data to create “hot lists” • Use benchmark data to identify opportunity for improved pricing

  7. What can a data analyst do? • Analyze invoice data for contract compliance • Provide Business Review data • Spend with vendor, spend by commodity, trends in spend, funding sources, non contract spend • Provide spend by vendor, commodity area, college/department • Identify stakeholders • Track trends (PCard use, eProcurement adoption) • Analyze requisition workload for buying staff

  8. How do I create a data analyst position? Panelists share experience • What is the title? • Where does it report? • How do I fund the position?

  9. Savings success driven by dataPanelists share experience • Strategic Sourcing • Benchmark unit cost • Identify high cost items • Identify highly used items • Validate price per contract • Validate price increase (decrease)

  10. Data Analysis Success StoriesPanelists share experience

  11. Questions/Discussion Thank you!

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