The Decision Maker

Mitch Nelson

Recent Posts

Three Factors for Success with Credit Union Data Analytics

Posted by Mitch Nelson on Aug 28, 2019 11:52:00 AM

The credit union industry looks very different now than it did twenty years ago. Just think about what credit unions will look like twenty years from now. Where does the journey for the next twenty years start? Twenty years ago, it would have been hard to imagine remote deposit capture, peer-to-peer payments, or even mobile banking. It is equally hard to imagine what banking will look like twenty years from now. However, one thing is certain: the trend of digital transformation will continue. For many credit unions, data analytics will play a big role in that.

Credit unions don’t necessarily need data analytics programs. However, credit unions that leverage their data remain better-positioned to provide individualized member experiences, remain in compliance, or identify attriting members—and that’s just the tip of the iceberg. It all comes down to the basic idea that knowledge is power. And data provides that  knowledge. As credit unions continue to consolidate and disappear, those that are strongest come out ahead and leveraging data is a competitive advantage. Here are some basic success factors.

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Topics: Data Integration, Data Analytics

Data Pooling: Leveraging Your Neighbor’s Data

Posted by Mitch Nelson on Oct 8, 2015 12:27:48 PM

The trend of data-driven decision making is exploding within the credit union space.  Pressures to increase revenue, reduce risky assets, and efficiently identify qualified sales leads have all contributed to the growing trend.  But as the push for data-driven decision making has gained popularity, the need for a wider breadth of data has become apparent. 

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Topics: Data Pool, Data Storage