Budgeting for credit union big data/analytics

by: Peter Keers

‘Tis the budgeting season and credit unions aiming to kick off a 2015 Big Data and Analytics (BD/A) initiative are all asking the same question: “How much does it cost?”

Finding the “number” means asking and seeking answers to two additional questions.

Question 1 – What is It?

In the spirit of Stephen Covey’s habit #2, “Begin with the End in Mind”, clearly defining the BD/A initiative is essential.  To be successful, the overall objective of the initiative needs to be understood across the organization.

Whatever the objective chosen by the credit union, there are some basic building blocks typically needed to establish a Credit Union Big Data/Analytics capability.

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