As credit unions continue to invest in analytics solutions, they should focus on the purpose of analytics; Making data-driven decisions to better serve members.
Big data and analytics are a couple of the most used buzzwords throughout the credit union movement. You can’t avoid these terms no matter where you try to hide. Many vendors promise analytics that will be a panacea to the movement. They continue to make bold claims that are sure to perk an executive’s ears (and drive sales for the vendor). Although there are many powerful products available to credit unions, they must understand the purpose of analytics before they begin their journey.