Best of 2014: credit union big data/analytics – Part 1
by: Austin Wentzlaff
Big Data/Analytics has been buzzing around different industries for some time now. A prime example is how Amazon used Big Data/Analytics to dominate the retail industry. For the Credit Union Industry, 2014 was the year for Big Data/Analytics. Credit unions are beginning to realize the value of data-driven decision-making and starting to turn the buzz of Big Data/Analytics into reality. As 2014 comes to an end, I have taken the liberty of compiling some of the industry’s favorite Big Data/Analytics related articles from OnApproach’s blog, The Decision Marker. Here is part one of two. Enjoy!
The first step in embarking on the Big Data/Analytics journey is consolidating all disparate data into one “single source of truth.” For credit unions, with many different sources system, this is no easy task. Before embarking on that journey, there are several obstacles to consider. See the full list here…
Mobile payments took a huge leap in 2014 with Apple’s announcement of Apple Pay. This disruption in payments will have a tremendous impact on the financial services industry, especially the smaller players. As credit unions work on the 2015 strategic plans, there are critical issues that need to be addressed. Read more here…
At the fall conference on Big Data hosted by Wikibon, there were several Big Data trend. Of these trends, there were three main takeaways that credit unions should consider as they plan for 2015. The 3 credit union trends on Big Data can be viewed here…continue reading »