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Building Data Success in 2023: A How-to Guide

Data-driven transformation starts with infusing the importance of data into your CU’s culture, not purchasing a resource.

By Anne Legg, Jeff Karpinske and Holly Karpinske | October 14, 2022 at 09:00 AM
two employees reviewing data on a computer screen Source: Shutterstock

Gartner’s 100 data analytics predictions for 2025 offered up a roadmap for data-driven transformation. Data-driven transformation does not start with hiring or purchasing a tool. Let me repeat that: It does not begin with purchasing any resource at all. It does start with understanding the value of data and selling that value inside the organization, then envisioning the value in order to progress to an assessment and then education.

Data is one of the most robust assets any enterprise can have and credit unions are in a fortunate position to have a plethora of it. For a credit union to succeed with data, it must acknowledge its organizational data knowledge gaps. It is difficult to move forward when no one is speaking the same language. Understanding core competency in data knowledge will only strengthen a credit union’s success in launching a data effort.

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