The March ISM-New York Report on Business was released at 9:45am ET on April 3, 2018.
Click here to read additional commentary on the March Report on Business
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In March, New York City purchasing managers reported small adjustments to the large changes we saw in February.
Current Business Conditions were at 54.0 in March, down half a point from February, when they dropped 18 points off of January's 11 year high of 72.5. This index made the smallest month over month change in the March report.
The Six-Month Outlook ended two consecutive months of decline, increasing 65.6 in March from 64.7 in February. The six-month outlook has been a reliable short-run guide for current business conditions over time.
Posted on the SynerTrade blog on March 28, 2018
On March 14th, the world lost a genius with the passing of Stephen Hawking. It seems that everyone – from the academic community, to movie buffs, to curious individuals – is memorializing him in their own way.
Perhaps this is why the Theory of Everything (the focus of Hawking’s early career) immediately came to mind when I read Jon Hansen’s recent post on this blog: Why Data (Harmonization) Is The Oil That Drives The New Digital Transformation Engine. Jon wrote about the need for data to be not just centralized, but also harmonized – accurate, but also meaningful. In order to stage a digital transformation, procurement needs data that can be strategically and philosophically aligned with the overarching objectives of the enterprise, but also reliable at the most granular level.
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Webinar recorded March 22, 2018
Back in 2013, a Harvard Business Review article asked the question; Does Bigger Data Lead to Better Decisions? It is unlikely that the answers of “it depends,” and "Big Data can lead to Big Mistakes," offered in the article would instill confidence regarding our ability to sift through the abundance of information that is available to us to produce a meaningful outcome.
Fast forward to 2018, and an article in Entrepreneur stating that "the Big Data Swamp Needs to Be Purified" before we can realize its promise would suggest that little progress has been made over the past five years to harness big data's potential. But when it comes to big data and advanced analytics in the procurement world, realizing the promise may not be as elusive as one might think.
Click here to view the webinar on demand, featuring Jon Hansen, Phil Dungey, and Kelly Barner.