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Showing posts from May, 2018

Why Analytics Might Not Be Working in Your Credit Union

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For almost a decade, I have been preaching the gospel of data-driven decisions. Admittedly, I am an analytical thinker, so using data to make decisions comes naturally to me. But, I’m keenly aware that is not true for everyone. My wife and I are different in that regard, as she is more emotional (not in a derogatory way) in her decision-making process. She is in touch with her feelings about things more than I. Therefore, she enjoys working in Special Education and I prefer working with numbers. Life literally takes all kinds. It has become clear in business, and proven in science, that data-driven decisions can often yield higher efficiency and accuracy, especially in areas where we do not have established expertise. However, there are still many credit unions who are struggling to get their data working for them. In this article, I will discuss some of the reasons this may be true. Let’s start with some key terms that need to be given some clear definitions: Big Data – This term is use…