by. Brandon Bogler
A recent Credit Union Times infographic highlights some of the ways credit unions can decipher and use Big Data. Specifically, a number of credit unions are looking to integrate uncomplicated predictive analytics and data management tools into their data mining programs.
Three of TMG’s credit union clients recently signed on to use our data analytics and portfolio consulting solution, Catalyst. Catalyst allows financial institutions (FIs) to better monitor, learn from and adjust to the changing behaviors of consumers. Built in conjunction with TMG’s strategic partner IQR Consulting, Catalyst leverages an FI’s own credit card portfolio data to help leaders understand cardholders on an individual level.
With Catalyst’s easy-to-decipher “snapshot” and “trending” reports, credit union executives don’t have to dig through the data to understand how portfolios are performing. Rather, the reports allow management teams to quickly assess the health of the portfolio and take corrective action where needed.
The Credit Union Times infographic breaks down some interesting statistics and facts from the CUNA Technology Council’s white paper, “The Data Craze: Perspectives on Big Data, Predictive Analytics and Business Intelligence.” It also takes a look at some of the main benefits of data analytics and the ways credit unions are utilizing Big Data.
