Big data as collaborative opportunity

How can CUs of all sizes best get on board with this new trend?

by: Lisa Hochgraf

Sometimes I get a single press release about a topic new to me and that prompts a story in CUES’ publications. Other times, I suddenly see a new topic everywhere. “Big data” is everywhere. And I’m wondering if it marks an opportunity for CUs to collaborate.

For the uninitiated, big data is a broad term for data sets so large or complex that traditional data processing applications are inadequate for making sense of them.

Getting and managing big data may be easier for big organizations. So I guess it wasn’t a huge surprise when I got a press release saying that $13 billion BECU, Seattle, had signed with INETCO Analytics to acquire rich transaction data from the CU’s ATM network. The goal is to gain on-demand visibility into member analytics, as a stepping stone to ensuring delivery of the best member experience possible.

“INETCO Analytics effectively shrinks our member transaction data gathering and analysis time from weeks down to minutes—which allows us to make decisions based on timely and comprehensive cardholder analytics,” says BECU ATM Channel Manager Shirley Taylor in the release.

continue reading »