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Data Analytics

Deep Data Analysis

Witnessing the Evolution of Your Credit Union "DNA"

A successful data strategy...

should be targeted to a specific credit union and evolve to adjust to disruptive forces. BIG’s approach to Data Strategy Assessment is a multi-phase path that addresses people, processes, technology and data. A better understanding of members, opportunity and risk enables a credit union to grow.

Data Analytics: Credit Union "DNA"

While credit unions want to explore using data to drive marketing and engagement, there are many obstacles to implementing data analytics.

  • There is no single-point of truth database, or source of data in the organization.
  • Systems are not integrated and/or analytics are implemented in silos throughout the organization.
  • Credit unions have remained at record low margins created by years of historically low interest rates.
  • Cultural resistance to change.
  • IT employees do not have the skill set to support an analytics environment.

Digital Transformation

Digital transformation touches every facet of the organization – gain a competitive edge; harness the power of digital.

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Data Analytics Assessment

To understand the needs of your members, you must master data and create a comprehensive view of the member journey.

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Meet your data goals and start

Your Digital Revolution

Develop and articulate the background that necessitated the Data Strategy by reviewing corporate strategic documentation, digital transformation initiatives, and major projects planned for 2019-2020.

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 credit union 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 credit union.

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.

Find out where your credit union stands in the industry.

Exclusive Survey Report

Take advantage of this data resource and download your copy of the 2nd semi-annual report now!
Brought to you by BIG & OnApproach

Let’s spend an hour discussing your business needs and see how we can work together to transform your organization.

Schedule a Data Assessment Consultation

BIG offers a unique and comprehensive analysis of digital and data resources for our clients at a low cost but yielding a high value. We understand technology and the business needs of credit unions at an unmatched level.

These engagements create a detailed assessment of the current state of either the digital or data strategy (or both). Each assessment, whether digital or data, is relatively inexpensive and can be competed in 3 to 4 weeks, depending on the size of the client. An entire assessment of both digital and data can be completed in 6 weeks.

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