Building a business intelligence (BI) program starts with one question: Why?
“Too many people are affected by ‘shiny object syndrome,’” where they’re distracted by the latest new tool, says Anne Legg, director of market/client strategy for AdvantEdge Analytics, a CUNA Strategic Services alliance provider. “Start by asking, ‘what is your why?’ What do you want to accomplish with business intelligence?”
Legg, who addressed the 2019 CUNA Finance Council Conference Sunday in New York City, defines BI as the process of leveraging technology to analyze data with the intent to deliver actionable information that’s easy to digest.
“The primary goal of BI is to enable and empower all levels of credit union leadership to make data-driven decisions that are in the best interest of members, the credit union, and the community,” she says. “You have a lot of data and a lot of ways to leverage it.”
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