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, […]

Cultivating a Data-Driven Culture Within The Credit Union

Achieving success with data analytics isn’t just a matter of acquiring robust BI software or hiring a data scientist and teams of analysts. It requires a shift in how the credit union embraces data which requires the participation of all employees at every level. It also requires transparency, solid processes, and buy-in from executive decision-makers.  […]

Putting Strategy Before Software

Warren Buffet famously once said: “Price is what you pay, value is what you get.”  Consider the last technology and software investments your credit union made to keep the organization running.  Are you getting true value from the dollars spent?  Are you maximizing all capabilities these IT investments offer? Have you calculated a measurable ROI? […]

Are Data Lakes a Better Way to Analyze Member Data?

Understanding The Benefits & Problems with Data Lakes As more credit unions want to up their competitive game through data and analytics, the debate between data warehouses and data lakes continues. While solution providers and analysts line up on both sides of the discussion, understanding the advantages and drawbacks of a data lake can help […]

Intuition vs. Data-Driven Strategy- Where Do You Fall On The Spectrum?

For years, the idea that “big data” could somehow create real business opportunities for banks and credit unions lurked in the background. How could analyzing statistics and volumes of data replace historical information, gut instincts, and industry experience? Consider this scenario: In 2013, the executive management team at a community financial institution embarked on an […]

Seven Steps to Align Your Business Strategy with Your Analytics Strategy

As I travel around the country working with financial institutions that are ready to implement a data analytics program, I realize a common denominator throughout them. Many have yet to align their data analytics strategy with their overall corporate/business strategy. When the business objectives and analytics strategy do not operate from the same playbook, it […]

Starting the Data Analytics Journey Panel Discussion

A few backs at the 2017 Credit Union Analytics Summit hosted by First Tech Federal Credit Union in Redmond, Washington, Brewster Knowlton moderated a panel with five fantastic industry leaders in the analytics space. The panelists included: Naveen Jain, VP Digital Analytics at First Tech Federal Credit Union Clay Yearsley, SVP Data Analytics at Texas […]