It's Not Perfect, But It's Proof
Proofs of concept still rule when it comes to vendor selection
Vendor selection is a bewildering process.
You know to take vendor marketing material with more than a pinch of salt. You know the excellent think-piece you have just read on this data management problem or that confusing regulation was produced by one of these vendors, who might have the best and most altruistic of intentions in writing it, but ultimately also has skin in the game.
You know that this service provider may genuinely believe their own marketing, may even be best of breed, but you still don't know if their product is right for your business requirements.
You know that all businesses are unique and have unique needs and you know that the only way of really making certain a product or solution or service is right for you is to run a proof of concept (PoC).
But you can't get to that stage without a lot of work defining your requirements and trying to understand who or what best suits those; and PoCs in themselves are time-consuming and not always indicative of how well the product will integrate with your systems. Also, once you've gone that far, you're in the grip of vendor sales teams who seem to know something you don't and are masters in the art of persuasion.
So you turn to analysts and consultants like Gartner, whose Magic Quadrant has been generally highly regarded for years as a source of independent, well-researched evaluations of vendor offerings. But you also know that the Magic Quadrant is considered by some to be increasingly outdated; and you know that others have sued Gartner over what they have claimed is its "pay-to-play" model, allegedly choosing vendors who spend money with them on their consulting services to land a coveted place in that top-right corner. Were these just sour grapes from vendors who didn't make it, or do they have a point? It's hard to tell, and everything seems to be marketing and obfuscation and jargon.
And perhaps you yourself know that it is easier sometimes to just go with what Gartner says is good, because if it fails you can say, "Wasn't me, I bought from the top-right corner so I thought I was getting the best." But this is box-ticking and covering your back; it's not really making your life easier in the end, or helping your organization.
No-one really knows what is best for you but you, though it helps to take on other opinions. And I think it is important to remember that, as Gartner itself has said, the Magic Quadrant is not advertising—it is an opinion. It may be not be perfect, but the only way to know if a vendor is a good fit is good old-fashioned PoC.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@waterstechnology.com
More on Data Management
The Waters Cooler: Everybody wants data
We’ve got more identifiers drama, additional CTP bidders, a shiny new AI product and … Moo Deng. Gather around the cooler, folks.
Bloomberg ups focus on quants, intraday strategies
The vendor hopes its OHLC Bar data product will woo new audiences among quant traders and analysts, who have previously had to painstakingly build solutions in-house.
CBOE and Aquis to make bid for European equities tape
The challenger exchanges have plans to become the second public bidder for provider of the European equities tape, following EuroCTP’s incorporation last year.
DORA stalls over identifier dispute
A disagreement over how to classify third-party tech providers on a reporting form known as the “register of information” has held up preparations for the highly anticipated operational resiliency rule in Europe.
FactSet unveils Data-as-a-Service offering
The vendor is introducing the suite of managed services for more efficient data management as emerging technologies, like GenAI, require more from datasets.
Moral models: The ethics of data management
The IMD Wrap: You may be managing data efficiently, but are you managing it ethically? And is that something you should be concerned about? Yes, says Max, you should.
Footsteps in the dark: Private markets’ data quality “problem”
Data quality in the private markets is poor. But is this a quirk of the market or a problem that needs fixing?
Deep in the heart of Texas, market data vets sweat the talent gap
The secrets to unlocking all of market data’s questions and the antidote for all its ills were discussed in Texas last week. Unfortunately, we promised not to tell—not all of them, anyway.