In the December 2013 issue of the Harvard Business Review, reporting and analytics guru Thomas Davenport writes about how far the innovators in the analytics field have advanced.
Many credit unions are launching business intelligence initiatives with high hopes for improving performance. However there are two big challenges to overcome.
Aberdeen Research recently conducted a survey among credit unions and other banking organizations to determine their use of business intelligence (BI) tools. In one major section of the study, Aberdeen analyzed the results in terms of institutions that used BI to analyze their customers and those that did not.
Credit union leaders are increasingly interested in using analytics to drive better decisions. A common question they ask is, “Once I have comprehensive access to all credit union data, how do I use it effectively?”
Thomas Davenport, co-author of Competing on Analytics, addressed the question in a recent Harvard Business Review article, Keep Up with Your Quants.