Data Manager Steven Searle discusses the importance of choosing the right software partner.
Choosing a partner is always difficult, right? There are so many things to consider. Compatibility, understanding, reliability. The demand to find a good, long-term partner is growing, and with a lot of options out there, it’s difficult to know if you’re making the right choice.
Sorry, we forgot to say. We’re talking about software partners here.
In the last five years, digital transformation has sped up significantly, with most advancements being driven by AI and the Covid-19 pandemic. The pandemic forced businesses to adopt digital solutions when it came to remote work and providing online solutions. In addition to this, the expanding role of AI powered innovations in varying sectors, and the release of ChatGPT in 2022 showcased the potential of conversational AI. Together, these changes reshaped industries, and made digital tools rather essential for growth, operation, and the ability to seamlessly blend technology into daily life.
So why is choosing the right software partner so important?
Well, to put it simply, “you buy cheap, you buy twice”. Software partners are pivotal to your success. Operationally speaking, the best efficiency gains come courtesy of your data collection software, so it’s vital to find a company that has and will invest in those developments – and save you time fannying around fitting square pegs into round holes. You basically get an entire team of specialised developers without forking out on the salaries.
Like we said before, you need someone who can understand your vision and bring it to reality – essentially a savvy wizard who can use their knowledge and technological acumen to specifically design solutions for you. And of course, it’s more than just having someone who understands your vision – choosing the right partner means that there’s someone on board who can:
- Mitigate potential risks
- Understand legalities regarding specific ownerships
- Handle challenges with speed and agility
- Provide a fresh perspective
To name a few amongst many…
What were we doing previously?
For a long time, people relied on Microsoft Excel, as it was one of the most ground-breaking inventions of data science. And whilst over 60% of businesses still find it useful due to its easy navigation, large storage and functionality, it has one big flaw: in the wrong hands it relies on manual entries, which creates huge potential for human error. In 2012, there was a catastrophic human error regarding Excel, which cost a leading global financial services firm a loss of $6 billion.
It’s insane to think that this was as recent as 2012, and don’t get it wrong, Excel is good, and most people will always have a soft spot for VBA – but maybe as a point of nostalgia as it was the first programming language many of us used to automate part of a process. But to think an absolute monster of a company was using Excel, and then for something to go wrong due to a copy/paste error is astounding.
What should we be using in 2024?
To name a few: APIs, AI, Javascript, Python, R. Even Excel, using the example above, is wise to the fact that our beloved VBA should basically be redundant now and have Javascript replacements in its Power Platform, and, more recently, has Python integrated.
How are Mustard making the difference with our software partners?
To start with, we’ve got an AI Supergroup internally made up of curious (and nerdy) minds whose job it is to seek information and try out this deluge of new softwares, usually with AI in its name, to see what efficiency gains can be made. And the results in the last few years have been incredible!
Now we’re not ones to give away our secret potion but we’ve been able to make SIGNIFICANT efficiencies covering Qual & Quant research, internal processes, quality processes and added value for clients. All these factors combined means we’re able to deliver work of higher quality, real innovation and pass on the cost savings to our clients while we’re at it.
It just goes to show that with the right minds leading the vision of the company and a lack of fear over change, you can stand toe-to-toe with the big hardcases from London.