Big Data in Procurement - Applications, possibilities, and challenges

More and more, academics and practitioners are urging organizations to adopt systems, techniques, or methods to use big data (BD) in their procurement practices to remain competitive. However, still, a major existing gap is the lack of understanding on how to generate value from the large amounts of varied data in procurement practices. Thus, with this study, we aim to increase the understanding of possible application areas of BD in procurement. By scanning both academic and publicly published information on the topic, we found that there are very limited studies on BD and procurement. Yet several areas of potential application were identified.