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Continuous progress in data maturity is one of the most important ways credit unions can ensure more efficient operations, optimized decision-making, and personalized member experience.
Based on your quiz results, we’ve provided key decisions and action items to help move you forward and achieve the best results.
Complete, correct, and consistent data is key. Create a team to audit existing data for accuracy and completion, and implement technology tools and routines for maintaining data hygiene moving forward.
Build workflows to generate reports quickly, automatically, and on a recurring basis. Ensure appropriate data is available to the right employees throughout the credit union.
Without a solid understanding of data, it can be unintentionally misused. Equip staff with the knowledge that helps them use data effectively and properly, and empower them to communicate data needs.
Even complex data analysis should be communicated in ways that are simple and clear to understand. Build visual dashboards that make the most relevant insights available to be acted on in a timely manner
Begin to re-orient goal-setting and decision-making processes around data instead of past experiences or “gut feelings.” To bring leadership to this effort, create an inter-departmental team that can set a data vision and begin to articulate processes.
As you prepare for the next steps, reference the following checklists to assist with planning, budgeting, and smoother implementation.
Potential items to budget for:
Discuss your results and next steps with our experts by booking a meeting.
