Magic isn’t real, so stop looking for it
The data industry is filled with acronyms and buzzwords that can feel like magical solutions to your data challenges. The more complicated or difficult your data problem, the more marvellous these solutions can appear: who wouldn’t want to buy in a tool that fixes all your data concerns overnight, like a fast-growing bag of magic beans? PMDM, ERP, AI, they are mysterious and compelling, seeming to offer an instant – not to mention specific – fix to your data woes.
Yet look closer, and nothing in the data industry’s acronym economy is really selling you an instant solution. All they are offering is a tool or service that can help you to manage your data. They’re not saying, ‘hand us a pumpkin and we’ll turn it into a coach’. They’re saying, ‘hand us some pumpkins and we’ll help you turn them into bio-fuel to power your coach’. The promise is to help your organisation get better results from your data – they can’t get the data and extract the results for you. Every data solution needs wraparound services or initiatives to work effectively, whether you tackle these yourself in-house, or bring in an external partner to guide you.
So no, data fairies are not real, and next time you see an acronym and think it’s going to sprinkle magic dust on your business, stamp that thought out.