During this presentation Filene’s Amy Eagan, along with Zach Tondre from LexisNexis, will explore the experiences of credit unions across North America with “big” data and data of any size. Credit unions of all sizes are learning to rightsize big data, aiming for an end goal of using data to serve members, drive growth and strengthen their organizations.
Filene conducted in-depth interviews with credit union leaders and data experts to study the business relevance of data and the need for better analytics to drive decision-making. Spotlighting some credit unions and their experiences with rightsizing big data shows the importance not just of data management and infrastructure but of analytical tools and human skill sets.
Becoming a data-driven credit union requires appropriate technology, people and organizational frameworks. Leadership also plays an integral role, as resistance to data initiatives can lead to cultural distrust. An investment in big data, or even just structured data, will require organizational buy-in and will lead to more personalized interactions with members, which should be a goal of every cooperative.