Data analytics key to reaching millennials

by: Brandon Bogler

Beyond generating revenue, cutting costs and managing risk, Big Data can provide a shot in the arm to financial institutions (FIs) looking to improve the consumer experience. Data, when analyzed properly, gives credit unions the opportunity to make better financial recommendations based on personalized needs. Understanding and taking advantage of this opportunity can increase loyalty at a time when competition for consumer attention is fierce.

Millennials, in particular, tend to respond to brands that use data specific to them to create contextualized and personalized experiences. In many cases, Big Data has become the currency for effectively interacting with Millennial consumers.

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