It's Not Perfect, But It's Proof
Proofs of concept still rule when it comes to vendor selection

Vendor selection is a bewildering process.
You know to take vendor marketing material with more than a pinch of salt. You know the excellent think-piece you have just read on this data management problem or that confusing regulation was produced by one of these vendors, who might have the best and most altruistic of intentions in writing it, but ultimately also has skin in the game.
You know that this service provider may genuinely believe their own marketing, may even be best of breed, but you still don't know if their product is right for your business requirements.
You know that all businesses are unique and have unique needs and you know that the only way of really making certain a product or solution or service is right for you is to run a proof of concept (PoC).
But you can't get to that stage without a lot of work defining your requirements and trying to understand who or what best suits those; and PoCs in themselves are time-consuming and not always indicative of how well the product will integrate with your systems. Also, once you've gone that far, you're in the grip of vendor sales teams who seem to know something you don't and are masters in the art of persuasion.
So you turn to analysts and consultants like Gartner, whose Magic Quadrant has been generally highly regarded for years as a source of independent, well-researched evaluations of vendor offerings. But you also know that the Magic Quadrant is considered by some to be increasingly outdated; and you know that others have sued Gartner over what they have claimed is its "pay-to-play" model, allegedly choosing vendors who spend money with them on their consulting services to land a coveted place in that top-right corner. Were these just sour grapes from vendors who didn't make it, or do they have a point? It's hard to tell, and everything seems to be marketing and obfuscation and jargon.
And perhaps you yourself know that it is easier sometimes to just go with what Gartner says is good, because if it fails you can say, "Wasn't me, I bought from the top-right corner so I thought I was getting the best." But this is box-ticking and covering your back; it's not really making your life easier in the end, or helping your organization.
No-one really knows what is best for you but you, though it helps to take on other opinions. And I think it is important to remember that, as Gartner itself has said, the Magic Quadrant is not advertising—it is an opinion. It may be not be perfect, but the only way to know if a vendor is a good fit is good old-fashioned PoC.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@waterstechnology.com
More on Data Management
Growing pains: Why good data and fortitude are crucial for banks’ tech projects
The IMD Wrap: Max examines recent WatersTechnology deep dives into long-term technology projects at several firms and the role data plays in those efforts.
Investing in the invisible, ING plots a tech renaissance
Voice of the CTO: Less than a year in the job, Daniele Tonella delves into ING’s global data platform, gives his thoughts on the future of Agile development, and talks about the importance of “invisible controls” for tech development.
Optiver relies on BMLL market data for quant strategy
The market-maker has built its trading business on top of BMLL’s Level 3 data. But the collaboration is young, and the pair have grand plans to make options the next quant frontier.
Bloomberg expands IBVAL; the SIPs and 24/5 trading; Broadridge’s agentic play, and more
The Waters Cooler: State Street embraces interop, Citi’s CIO outlines the XiNG risk platform, power companies explore alternative nuclear supply options to datacenters, and more.
As costs rise, buy-side CIOs urge caution on AI
Conference attendees encouraged asset managers to tread carefully when looking to deploy AI-driven solutions, citing high cost pressures.
XiNG: Inside Citi’s all-encompassing risk platform
Voice of the CTO: Citi’s chief information officer, Jon Lofthouse, explains how and why the bank has extended its enterprise-wide risk platform so that every trade in any asset class goes through it.
Demand for private markets data turns users into providers
Buy-side firms seeking standardized, user-friendly datasets are turning toward a new section of the alternatives market to get their fix—each other.
LSEG-AWS extend partnership, Deutsche Bank’s AI plans, GenAI (and regular AI) concerns, and more
The Waters Cooler: Nasdaq and MTFs bicker about data fees, Craig Donohue to take the reins at Cboe, and Clearwater closes its Beacon deal, in this week’s news roundup.