Oct 15, 2020 - 3 minutes to read - PDF version
A couple of years ago, we started working with a fortune 100 retail company in the US. They had invested 100's of millions of dollars towards data management with no measurable ROI. Basic questions like "how many customers do I have?" were not answered accurately; marketing and personalization was being driven by low quality data that was a week old; frustrated marketing teams created their own shadow solutions to address their team's needs.
If this sounds familiar to you, you are not alone. 80% of data modernization initiatives failed to deliver positive ROI for companies which in some cases have invested over $500M to solve this problem (McKinsey). Data today is HARD. The biggest reason for this is complexity:
The end result: years spent addressing symptoms of data complexity instead of the disease.
To quote the American anthropologist Joseph A. Tainter, "…in the evolution of a society, continued investment in complexity as a problem-solving strategy yields a declining marginal return". This applies to data just as it applies to society in general.
We founded The Modern Data Company because we believe that data
Data is a 30% tech problem and 70% people problem. A successful data company can’t be built without immense empathy towards the customer and the people issues within customer organizations. Modern Data is a value-driven company with empathy as a core attribute. These values are what will enable us to deliver consistent value and satisfied customers.
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