Develop and articulate the background that necessitated the Data Strategy by reviewing corporate strategic documentation, digital transformation initiatives, and major projects planned for 2018-2019.
Assessing the business case to ensure the business value is clearly defined and the data strategy provides for risk management, lending decisions (increased originations), process optimization, product strategy, and is inclusive of analytic and predictive tools.
BIG will assess the strategic goals and the business benefits to the organization that include loan and membership growth, improved loan performance, increased efficiencies, member segmentation and higher return on assets.
BIG will design a roadmap and clearly identify what steps need to be taken and when. The roadmap will include a three-stage implementation strategy.
BIG will identify key risks such as change management issues, cultural roadblocks, resource capabilities, at-risk or competing projects, as well as any accelerators that may exist in the organization.
BIG will identify key performance indicators (KPIs) and metrics to measure the success of the data strategy so that management can track the progress of its programs.
Based on the findings and the roadmap, BIG will provide a budget estimate for the strategy.