Author Archive for: admin
Entries by admin
Two Words That Will Transform Your Data Initiatives: Data Warehouse
The foundation for a successful analytics program is data. But, without accurate and quality data, it’s nearly impossible to make informed business decisions. As data becomes an even greater asset for the credit union, the ability to store large amounts of complex data in a unified, central database, known as a data warehouse, is critical. […]
Why Do Analytics Initiatives Fail? 4 Barriers to Success
Many credit unions are starting to see returns on their data and analytics initiatives while improving the decision-making process across the organization. But despite some standout success stories, I still witness far too many failing data initiatives. Begging the question…why do so many data analytics initiatives fail? Consider these roadblocks to success, and how your […]
Delivering an Analytics Strategy that Works
Data Analytics is becoming the main driver of innovation in the financial services industry. A recent report shows that data analytics investments in the banking sector totaled $20.8 billion dollars in 2017 and will certainly continue to rise as credit union executives leverage the wealth of potential that utilizing consumer data and developing successful, sustainable […]
Data and Analytics Roles at your Credit Union
Digital innovation is sweeping across the financial services industry and creating opportunities for banks and credit unions to leverage data as a source of competitive advantage. Until recently, most credit unions were delegating data management and analytics to the IT department, which in turn created data silos that inhibited the enterprise use of data. Has […]
Can Data Analytics Improve Financial Wellness?
It’s a harsh reality. Many U.S. consumers are struggling financially. According to the Federal Reserve Board, four in ten Americans can’t cover a $400 emergency expense. As consumer debt rises and savings rates decline, credit unions are facing a growing issue and opportunity: how to quickly address financial wellness among members. Consider these staggering stats: […]
Data Analytics: The Winning Game Plan for Deposit Growth
For years, financial institutions have enjoyed the abundance of low-cost deposits. Today, we are in a new era of banking, with deposit acquisition becoming a significant point of focus for most credit unions. The change represents another consequence of the Federal Reserve’s decision to raise short-term rates which influences the mortgage market, stocks and other […]
Why the Lag Part 2: Solutions to Top Data Analytics Challenges
If you have reviewed the some of the important steps and hurdles to overcome for credit unions to improve their analytics maturity outlined in our first article on Why the Lag, then you are ready for some more steps in the process. Challenge: Maintaining data quality is a hurdle for many credit unions, but it […]
Why the Lag?
How Credit Unions Can Quickly Improve their Analytics Maturity (Part 1) Is credit union leadership still moving cautiously and slowly when it comes to adopting data analytics technology? Yes, according to The National Survey on Credit Union Data Analytics and Decisioning Trends that examined the adoption rates of analytics, priorities, budgets, and implementation timelines. The recent […]