The Role of the Chief Data Officer

For years, financial Institutions have been using data analytics to seek out opportunities, reduce costs, create efficiencies, make better and faster decisions, and ultimately improve the customer experience. Though many have begun the data analytics journey, most are not getting the most value of their data analytics initiatives. To be fair, it’s not the easiest […]

Top Data Analytics Mistakes to Avoid

Why do some data and analytics projects fail, while others go on to produce significant business outcomes? Today, many financial institutions are actively using data analytics to turn their data into actionable and profitable insights. However, the reality is most analytics projects do not always translate into easy success and big wins.  Too often, these […]

Part 2: The Data Analytics Strategy Roadmap

If you have reviewed the important first six steps outlined in our first article on Building an Analytics Roadmap, then you are ready for the final steps to complete the journey. To recap, we firmly believe that analytics in the bank and credit union industry will become necessary for survival.  Those who adopt early will […]

Demystifying Artificial Intelligence

By now, you’ve undoubtedly heard the terms “artificial intelligence” and “machine learning”.  If you haven’t already, take a quick read of our previous article where we explain the basics of machine learning. Today, banks and credit unions are learning how to use the power of artificial intelligence (AI) to boost customer engagement, decrease costs, improve […]

Explaining the Basics of Machine Learning

Explaining the Basics of Machine Learning Financial institutions are no strangers to Machine Learning. Many institutions are investing heavily in this technology to improve cyber security, customer segmentation, and marketing campaign management. To simplify the discussion, think of machine learning as self-driving cars, practical speech recognition, and effective web searches. Machine learning is the science […]

Winning with Data: Top Analytics Use Cases for 2017

Data is rising at an incredible pace, covering all aspects of a consumer’s life. In the past two years, more data has been created than in the entire previous history of the human race. (1) 2017 has certainly been the year that data and analytics has redefined the financial services industry. For those financial institutions […]

Use Member Data to Anticipate Key Life Events

The market for data and predictive analytics is growing fast— and for a good reason. According to the Aberdeen Group, companies using predictive analytics enjoyed a 73% higher lift in revenue than companies that do not use this technology (1). Many credit union executives we work with use data analytics to increase their market share […]

A Credit Union’s Guide to Establishing Effective Data Governance

If data isn’t governed properly, your credit union could be at risk. Consider these best practices for a well-managed data governance strategy. The foundation for a successful analytics program is data. Without accurate, quality data, it’s nearly impossible to make informed business decisions. As data becomes an even greater asset for the credit union, the […]

Steward Your Data: Why Data Governance Is Critical to Your Analytics Strategy

For any credit union that aspires to derive insight and business value from their data, the discipline of data governance is essential. What Is Data Governance? Think of data governance as a quality control discipline that governs the overall management, usage, storage, monitoring, and protection of the credit union’s data. Without a dedicated governance process, […]