Gregory Maciag: Identifier Failure Proves Costly

Friday, 12 October 2012

Identifier Failure Proves Costly

I like to collect figures relating to the benefits of standards. Sometimes these figures are like tiny case studies. Other times, they just make you go “wow”.

Hudson Hollister of the Data Transparency Coalition gives an example of how the lack of standard identifiers can waste time, effort, and enormous amounts of money. If federal loan assessors had been able to match SEC reports on solar panels start-up Solyndra, it's unlikely the company would have got its $527m in federal loan guarantees – before filing for bankruptcy just two years later. If only complex organizations knew what they know.

Data Informed

Posted on Friday, 12 October 2012 in Data, Data Quality | Permalink

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New Book

My latest book presents the challenges members face when adopting industry standards as well as the opportunities that come as a result. It features my discussions with many people over many years and follows the foundation I set in my first book "The Business Information Revolution".

Industry standards are never adopted in a vacuum. They become part and parcel of all the trials and tribulations managers face in their day to day work. ACORD Standards are always part of a larger software development project that brings along people, priorities and politics. Adopting industry standards isn't simple, but the benefits far outweigh the problems of building and maintaining proprietary alternatives.

I trust that you will appreciate my frankness, identify with some of the challenges and learn from what others have done to pave the way.