5 Features Credit Unions Want from Data Visualization
by Kevin Garabedian, Senior Director for Small and Midsize Business at SAS Institute, Inc.
Data underpins the operations and strategic decisions of every business. Yet these days, data is generated faster than it can be consumed and digested, making it challenging for credit unions to extract maximum value from this vital asset. Many decision makers – whether data analysts or senior-level executives – struggle to draw meaningful conclusions in a timely manner from the array of data available to them.
Reliance on spreadsheets and specialized reporting and analysis tools only limits your flexibility and output. After all, spreadsheets were not designed for data analysis. And specialized reporting and analysis tools often lack integration with other critical business applications and processes. Dependence on the IT group for ad hoc reports slows insights and decisions, putting the company at a disadvantage. Business decision makers feel a loss of control waiting for the already overburdened IT department to generate critical reports.
Savvy credit unions are moving beyond static graphs, spreadsheets, and reports by harnessing the power of business visualization to transform how they see, discover and share insights hidden in their data. Because business visualization spans a broad range of options, from static to dynamic and interactive, it serves a variety of needs within organizations. As a result, credit unions adopting data visualization are able to extract maximum value from information captured throughout their environments.
