FUD – What Is It And Why Should You Care?

FUD – What Is It and Why Should You Care?

FUD is an acronym for the slang expression of Fear, Uncertainty, and Doubt. It simply refers to the idea that when faced with making decisions, we tend to hesitate to make the decision because of the fear of choosing incorrectly. 

This feeling can be exacerbated if we are unsure of the trustworthiness of our information sources. 

Lack of trust is the biggest contributor to FUD.  Whether the sources are our own corporate data, our staff, our external advisors, or the traditional and non-traditional media, we must trust the information provided to make the best possible decisions. 

If you can TRUST the information, FUD can be virtually eliminated or greatly reduced. 

TRUST in people is wholly more complex than TRUST in our own corporate data, which we will discuss in a later post. However, TRUST in our own data is vital and can be achieved by having the necessary System of Record (SOR) with some level of data governance implemented.  The closer to a Single Source of Truth (SSOT) we have, the better chance that we have accurate data. 

Of course, many of us are still using spreadsheets to manage our businesses, including myself; however, their use does increase the risk of data redundancy, data expiry, data insecurity, etc. 

Having a System of Record (SOR) such as Enterprise Resource Planning (ERP), Accounting, Customer Relationship Management (CRM), etc., along with corresponding data governance rules, is the best way to ensure you can TRUST your own data. 

Therefore, establish TRUSTED sources of data and information, don’t worry about things out of your control, and make FAST, BOLD DECISIONS.

As President Harry S. Truman once said,

“Imperfect action is better than perfect inaction”.

For more information about Software Selection Best Practices, email INFO@SILVERTHAW.CA

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