#251: Right Or Wrong Side of Data History, Shoptalk

An inspiring conversation led me down the path of thinking about right vs. wrong side of data history

Author

Darren Herman
March 19, 2024

Good morning OP Community,

If you are reading this today, Tuesday, I’m at Shoptalk in Las Vegas with a packed schedule. I’m excited to see industry friends and catch up with some companies that happen to be here. I am hoping to have some time to walk the show floor and see all of the emerging companies that have popped up since the last time I was here pre-pandemic.

This will probably be my last show for some time as I will not be at Possible in Miami due to a previously scheduled family holiday.

Fun fact about Las Vegas:  I met my amazing wife on a work-trip in Vegas in the mid 2000s. So, what happens in Vegas, does NOT stay in Vegas.

Random Facts of Darren Herman

🔉 MadTech Podcast interview with Kevel’s Chief Executive James Avery on Retail Media, Walled Garden Platforms, and Programmatic at Scale. I also enjoyed the 20VC interview of Nicolai Tangen, Chief Executive of Norges Bank Investment Management, the largest sovereign wealth fund in the world at $1.55 trillion of assets.

🧭 Russell Reynolds unveils Artemis, a first-of-it’s kind CEO accelerator program for women. You can learn more about it here. Love the idea of this and being backed by Russell Reynolds absolutely helps.  If you qualify for this, it’s probably something to look into.

🍪 Keith Gooberman, Co-founder/CEO of Pontiac Intelligence, talks about how the death of cookies actually benefits marketers and agencies. Has some interesting takes on the tech fees for DSPs will come down.

🍎 Keeping my eyes on this AI news re: Apple and Google. Would have thought this could have been an entry point for Apple to not have to rely on a third partner such as what it does with regards to search. This opens up a bunch of questions for me as it pertains to Apple’s AI roadmap. More here and here. Some thoughts by @Chamath.

To get us started for this week, here are five quick links:

Thank you for taking the time to read the OP this week. As always, please reach out with any questions or feedback.

Darren

OP Community Reaction to OP Stack

Thanks for all of your comments and feedback regarding my operating toolkit as mentioned in OP #250. Many of you had some nice builds and recommendations.  I figured I’d share them with the entire OP community for benefit:

  • A few votes for Remarkable, a tablet that is purely for note taking and reading. Apparently it’s the closest to mimicking paper, while still remaining digital.

  • A bunch of high fives for the Ink+Volt recommendation I made about their dashboard product.

  • Boomerang and Slack’s /remind me function were recommended. A lot of love for setting up reminders and for auto-scheduling things to do be done.

  • Love for Analog and its system of products. I like the simplicity of their design.

  • Folk for personal CRM. I have not used or come across this but Craig did and wonder if anyone else has? I’ve been searching for a personal CRM for decades.

  • OmniFocus had a bunch of vouches. This feels pretty heavy and intense to me but glad it works for others.

  • Evernote had some shared love across a few OP community members. When it first came out, I gave it a try but never had staying power in my stack.  It was there about as long as Trello for me. Both were about 3 months of good trial.

In a recent dialogue that I had the privilege of sharing with my friends at Bain Capital Ventures, I was introduced to a modern BI technology that harnesses the power of AI and ML. The co-founders, a CEO and CTO duo with an impressive track record, unveiled how effortlessly their technology integrates with platforms like Snowflake, Redshift, and Bigquery. They stated, "Most modern companies should have no problem adopting it." This sparked an intriguing thought.

Despite the optimism, my daily interactions reveal a different story. I've encountered companies awash in data lakes, oceans, and even modest streams, yet few boast a unified data ecosystem. This realization underscores a pivotal moment in history: the distinction between companies poised for success and those at risk of falling behind hinges on their approach to data management.

The vibrant exhibit floor, on-stage discussions, and closed door meetings of the Shoptalk Conference in Las Vegas further highlighted this truth. The strategic handling of data isn't merely a trend; it's the cornerstone of what will define the leaders and laggards in the imminent future. To be bold, the next decade may very well distinguish the thriving from the obsolete, all through the lens of data strategy and management.

This is no exaggeration meant to capture the OP community attention. Rather, it's a candid observation that a robust data strategy will significantly smooth the transition into the era of artificial intelligence. While leveraging external LLMs for GenAI initiatives offers value, those who tap into their first-party data for AI-driven transformations will achieve unparalleled insights and efficiencies.

Echoing the wisdom of Gates Law, it's common to overestimate short-term achievements while underestimating long-term potential. The evolution we foresee won't happen overnight, yet the urgency for organizations to cultivate a dynamic data strategy is paramount. The absence of such foresight may very well dictate a company's fate.

Actionable Insights for Leaders:

  • For those in leadership: Acknowledge the imperative. A proactive approach to data strategy is not optional; it's your responsibility, likely endorsed by your board.

  • For team members in strategy-lacking organizations: Engage with your CIO. Champion the development of use cases within your domain that necessitate a cohesive data strategy.

  • For job seekers: Prioritize data strategy in your evaluations. The last thing you want is to join an organization that's perpetually playing catch-up.

Consider this a friendly forewarning from someone navigating the shifting sands of data management. The future is bright for those ready to embrace it. Can’t say I didn’t warn you…

I've done extensive reading this week and I hope you'll enjoy the following links that I've curated. If you come across an article that you believe would be a great addition to future OP letters, don't hesitate to share it with me. However, please note that I retain the discretion to decide on the content that goes into each OP letter.

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