7 ways to make the most of credit union member data

first_imgLeaders and business intelligence at credit unions are putting a tremendous focus on ways to use advanced data analytics to identify trends, detect patterns and glean other valuable findings from the sea of information available to them. Without question, member data is valuable. But the greatest value lies in the ability to empower each line of business to achieve strategic initiatives and performance goals. When this empowerment is coupled with improving member service, a proven, repeatable best practice results.Today’s “analytics” are often visuals, graphs and trends while advanced analytics, while a journey, result in quantitatively-proven prescriptive statistics from regression and machine learning. Advanced analytics enable the credit union to effectively segment members to identify opportunities, improve service and retention, and target new products and services.Start the advanced analytics journey with the end goal in mind and consider these seven, “top-down” best practices as a roadmap to guide the credit union through each step. continue reading » 15SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img

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