Stacy Yoeckel, Founder of Modern Data Compass, joins us to talk about the complexity of data in a modern procurement organization and the importance of a good data strategy for our new AI-focused world.

Guest: Stacy Yoeckel – Founder and Chief Data & AI Strategist, Modern Data Compass

Host: Sarah Nelson – Senior Solution Advisory, SAP Finance & Spend

Host: Erik Derenne – Director, Strategic Solution Advisory, SAP Finance & Spend

Host: Justin Morse – Vice President, Solution Advisory, SAP Americas, Finance & Spend

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Data has always been the lifeblood of an organization, and the stakes have never been as high as they are now with generative AI technologies rapidly storming onto the scene to consume massive amounts of your data with the goal of producing intelligent insights to propel your company to new heights.  Unfortunately, without clean data and proper context, AI will only take you so far…

So, what’s the secret to getting the most out of your data to fuel this AI renaissance?

Our guest today is Stacy Yoeckel, founder and chief data and AI strategist at Modern Data Compass.  Stacy helped us understand the differences between Data Analysts, Data Engineers, and Data Scientists and how all three play a vital role in gathering, modeling, and transforming data to be useable and useful to the rest of the organization.

Stacy has spent decades obsessed with data, focused primarily on procurement analytics for several companies across a variety of industries.  This experience combined with her passion for looking at data and finding patterns, led to the launch of Modern Data Compass, where Stacy advises companies on their strategies and readiness roadmap for getting the most out of data, analytics and AI.

With the rise of generative AI and an exponentially growing volume of structured and unstructured data, having a strategy for clean, semantically contextual data in no longer a “nice to have” …it is non-negotiable.  The question is, will you take control of your data before it (or the AI using it) takes control of your organization?

So, let’s dive in, and don’t forget to like, share, and subscribe. I am your host Erik Derenne, and you’re listening to The Future of Procurement Podcast. 

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