Machine learning for procurement analytics

Bluefin Labs – TV Genome Visualization. (source: Bluefin on Wikimedia Commons).In this episode of the O’Reilly Podcast, O’Reilly’s Ben Lorica sat down with Eliot Knudsen, Field Architect at Tamr. Lorica and Knudsen discuss the role of prescriptive analytics in driving business change, using feedback to train machine learning algorithms, coalescing various sources of business data, and the importance of explaining your algorithms in order to relay their value. Here are a few highlights from their conversation: Prescriptive analytics to drive business action The idea behind prescriptive analytics is that you’re combining forecasting ability with a specific process or change that folks want to drive in their business—whether it’s how they onboard their customers, whether it’s how they negotiate with their suppliers, whether it’s how they move different products or materials…


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