I witnessed the ongoing debate on the need for industry data standards for decades. Believe me, I have heard it all. It actually comes down to how people think about business process. And most of the rhetoric I've heard over the years comes from a lack of understanding more than anything else.
The truth is that every organization using a computer today is, in fact, using (and paying for) data standards. In order for data to be stored, processed and moved, you need data standards. Either a developer in your firm or your vendor is doing the deed. The mission of ACORD is to promote open (shared) industry data standards. Why? Because all business is based on sharing information with suppliers, partners and distributors. And to think that you can (data) translate your way down the yellow brick road is... well... foolish. As a result, every industry is involved with data standards in one way or another and in some cases, government is leading the way.
Ara Trembly, of National Underwriter fame, wrote about industry standards in his column titled As Quest For Data Standards Continues, Insurers Make Do With Patchwork System. While many firms have evolved into a patchwork process (as he suggests), it gives them more reason to deploy industry standards. And patchwork does not always mean something bad as disparate systems will always be part of the landscape. Standards connect the dots.
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