When I talk to executives at credit unions about big data, I inevitably get two reactions. On the one hand, they’re excited about what big data means for the future of banking. On the other hand, they’re wary about the promised return on these investments. They wonder if the demand is simply ahead of the technology, or if the impact of big data simply isn’t as great as many people have assumed.

These executives are often right to be disillusioned. Far too many efforts with big data suffer from what might be termed a “garbage in, garbage out” mentality. Such efforts prove that it’s not enough to gather reams of data. The data also has to be relevant, cleansed, contextualized and well structured, even if that structure is a derivative of an unstructured data set. Without these features, these companies end up with garbage. And getting access to lots of garbage – which is what “big data” often equates to – won’t help with a single business decision. In fact, in cases like these big data can often just be a distraction.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2023 ALM Global, LLC. All Rights Reserved.