By Trellance’s Vice President of Client Success & Optimization Doug Farrell
We’re not going to sugarcoat it. Diving into the world of data analytics is a big, huge step, but if you want your credit union to not only survive, but thrive, it’s a necessary one. Your journey should begin sooner, Trellance Data Experts suggest, rather than later.
If your credit union is just starting to dip its toes into the cool, dark data waters, here’s an important thing to remember: Your first step in the process is to completely change your mindset from anything you’ve ever known about business.
OK, maybe it’s not quite that dramatic, but whether you’re new to the game, or you’ve already taken a few key steps toward a data transformation, now is the time to start looking at your business from the perspective of your members. And for the most part, that is the gift that analytics gives you – times a thousand! What do each of your members need from your Credit Union? Are they getting it? if not, what can you do to change that? What will convince each and every one of them to hang around?
Hint: There is no single answer for all.
And that is the second gift analytics provides. Analytics gives you a recipe for marketing to each member individually to meet their needs. In fact, many of the ingredients are already lurking in your existing data, but where? — Which brings us back to that big leap we were talking about. How can your Credit Union possibly meet the individual needs of each member without knowing what they are?
The answer is with the proper analytics, the expertise and manpower to interpret those analytics, you’ll know everything but the color of their eyes. And with the advanced product and services offerings we are introducing in 2022, we can probably get you those baby blues as well. (oh, you’ll definitely want to stop by the Trellance booth at GAC for the scoop.)
By now you have locked in your 2022 budgets, and ideally they include a healthy chunk for your data transformation. It isn’t a one-and-done thing – think of the data journey as building blocks that lead to future success. If you keep chipping away, eventually you will have a winning program that is guiding your credit union in the right direction, along with benefiting from the expertise needed to make it all happen. (Another hint: This is more than your IT department can handle, but if you’re here reading this, you’ve likely already come to that conclusion.)
Trellance is here to walk you through the process and empower your credit union for success. We get that providing the information isn’t enough. You likely need an interpreter.
So, we’ll ask again: where are you on your Data Analytics Journey?
Is it moving along smoothly and quickly or are you ready for some assistance?
Here are a few of the necessary and exciting steps a healthy data journey takes toward success….with the help of your Trellance Trexperts!
- Leadership Buy-in and Approval for Your Multi-year Budget
- Trellance is here to customize your data program utilizing our signature M360 Cloud product with data management consulting the moment you receive internal approvals.
- Tools and Expertise
- From Trellance, you get the whole package, everything you need to complete your data journey, including our team of Trexperts to guide you through the learning process.
- Training – Your entire team utilizes and benefits from the data
- Trellance dashboards are clear and easy to understand for everyone on your team, and we are here to walk you through getting the most out of your data.
- Data in, Actionable Insights Out.
- Now your Data Equals Profit. Trellance sticks with you. In fact, we are currently releases 12 new dashboards to improve your analytics experience.