Why failing is good!

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The concept of failure has a very negative reputation among the majority of human beings. In a world where information travels at the blink of an eye the risk of your screwup becoming public knowledge makes this concept even more daunting. All people who have succeeded though know the value and necessity of failure. The lessons learned from your own experience are the ones that are remembered most vividly. A failure isn’t a person, it’s an event.

The fear of failing increases as a correlation to the amount of resource invested, be it time or money. That is why we think that failing fast should come as a relief to anyone willing to try new things but not having the courage to take that last step that results in action. Failing fast enables us to learn how to not cling to something. Studies have shown that humans are prone to keeping bad investments the more time and money has been invested in them, even though time has not shown a sign of these investments ever accumulating a return.

One more paradoxical thing that comes to mind is that we all have heard someone say “I don’t want to be remembered as a failure”. It is also funny that if looking at a whole population, failure is much more common than success yet nobody seems to remember failures. For example financial crises keep coming back and yet people seem to be oblivious to the same warning signs that were present then and now.

What’s amazing about Dat-a-MazeHouse is that it enables us to determine very quickly if our sources contain the necessary data to confirm a hypothesis. If the raw data is of insufficient quality, the analyst will very quickly find out and can therefore plan her next action instead of becoming a victim of a waiting game that can span for several months. Being able to determine the value or relevance of your data fast saves time and lot of money even if the outcome ends in a failure. The company will obviously be in a better position to understand its options before committing to a multi-year and multi million dollar data warehouse program.

To summarize it all – the failure shouldn’t be strived for but should rather be embraced and understood if faced with it. Dat-a-MazeHouse let’s you fail fast in order to succeed fast.

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Why failing is good!
Ott explains why failing's a good thing!