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Companies are using big data in countless aspects of their business models, including the procurement processes. billion on supply chain data analytics in 2026. However, procurement departments have increasingly lagged behind in companies’ quests to digitize their workflow. They are expected to spend $9.3
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Continuously rising data volumes require additional storage space or more advanced storage systems, leading to higher costs. The main culprit is the rise of big data, and the tech industry is one of the biggest consumers of it. Data collection has increased vastly due to the growing digitalization of information.
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