The Decision Maker

The Power of Truth in Credit Union Analytics

Posted by Nate Wentzlaff on Sep 28, 2016 10:07:00 AM

Data generation continues to grow at an exponential rate throughout the credit union industry. In order to hear the signals through the noise, credit unions must establish a single version of the truth.

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Topics: Analytics, Semantic Layer

The Power of Semantics in Credit Union Analytics

Posted by Nate Wentzlaff on Aug 23, 2016 11:06:00 AM

A common language forms a bond between humans and strengthens their ability to cooperate. Credit unions must agree on common semantics to establish powerful business analytics throughout the industry.

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Topics: Data Integration, Data Standards, Semantic Layer, data model

Let My Information Go: The Glory and Peril of Data Democratization

Posted by Peter Keers, PMP on Aug 10, 2016 1:06:00 PM

 

Credit unions are often plagued by their data being locked up in the core processor and other standalone systems. Increasingly, they are adopting data warehouse solutions to free and integrate this data so cutting edge analytical tools can be employed to solve tough business problems.

However, a new problem then becomes apparent. Once business users realize long-imprisoned data is now liberated, they clamor for information. This puts pressure on the IT department to meet the growing demand for reporting and analytics.

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Topics: Semantic Layer, Data Democratization

The old way is Dead: Reporting & Analytics for Credit Unions

Posted by Austin Wentzlaff on Nov 2, 2015 12:00:00 PM

If you are the one responsible for report writing at your credit union or have ever requested a report, your pain is not unheard.  The old way of reporting is broken, and it has been for years. Business intelligence failed to deliver on its promise.  IT departments are overloaded and users are frustrated.  Becoming an analytic driven organization is often unobtainable because the majority of the time is spent gathering and organizing the data.

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Topics: Analytics, Big Data, Semantic Layer, Self-Service Analytics

The Data Warehouse is not Enough

Posted by Nate Wentzlaff on Oct 27, 2015 2:05:49 PM

Relying solely on a data warehouse, without an enterprise data management strategy, is a recipe for disaster.

 

Credit unions are beginning to invest heavily in big data and analytics.  When deciding how to allocate funds in this space, leaders are awash with buzzwords and conflicting advice.  One of the most common terms used within big data and analytics is: data warehouseDeciding whether to build or buy a data warehouse is an important strategic decision for credit unions.  Unfortunately, many decision-makers get lost in discussions about storage capacity, data processing, data visualization, etc.  All of these concepts are important.  However, data warehousing is not the solution.  It is a powerful tool in an enterprise data management (EDM) strategy. 

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Topics: Analytics, Data warehouse, Semantic Layer, data management

The Last Mile: Why a Semantic Layer Matters for Big Data & Analytics

Posted by Peter Keers, PMP on May 26, 2015 11:43:57 AM

Credit unions are ramping up their adoption of Big Data & Analytics. The frustration with valuable business information being trapped in multiple data silos has boiled over.  Projects to integrate these disparate data sources into a single source of truth are being launched every day. Now, many credit unions have the ability to slice and dice their data and drill from individual transactions up to aggregated totals.

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Topics: Analytics, Big Data, Big data/analytics, Semantic Layer

Cooperative Analytics: The Standard Data Model

Posted by Nate Wentzlaff on Apr 16, 2015 12:30:00 PM

In order to cooperate more effectively, credit unions must “read from the same book” by agreeing on common meanings for their business terms. 
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Topics: Big Data, Big data/analytics, Cooperation, Analytic Data Model, Semantic Layer

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You now have more information at hand about your credit union than ever before. But are you using it to "out-think" your rivals? If not, you may be missing out on a potent competitive tool.

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