Procurement Market Intelligence is an approach that leverages data and insights to inform decision making within the procurement process. It involves analysis of market trends, sourcing strategies, supplier performance, and expenditure categories in order to gain better understanding of the current state of supply markets, allowing organizations to make more informed decisions. With accurate, up-to-date Market Intelligence, organizations can achieve better outcomes for their sourcing journey by being able to more effectively manage risks, optimize costs, and identify new opportunities.