Search
 
Analysis

Shortage of Employee Data Skills Could Be Holding Back Some CUs

"When credit unions invest in developing their existing talent to better use data ... this can be a win-win-win."

A shortage of employees with good data skills. A shortage of employees with good data skills. (Source: Shutterstock)

Many workplaces are having a hard time becoming data-driven organizations because many of their employees lack data-literacy skills and in some cases even actively avoid using data, according to new research from Accenture. That shortage of data skills afflicts the credit union industry, too, one human resources expert told CU Times.

The survey of 9,000 full-time employees in the United States, U.K., Germany, France, Singapore, Sweden, Japan, Australia and India found just 25% believe they’re fully prepared to use data effectively, and only 21% were confident in their ability to read, understand, question and work with data. Just 37% said they trusted their decisions more when they based those decisions on data, and about half (48%) said they went with their guts rather than with data when making decisions.

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?

NOT FOR REPRINT

© 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.

Tina Orem

 

Recommended Stories

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.