Data analytics: ‘Look for quick wins’
Data-driven solutions are ‘within your walls.’
Data-driven consumer insights are driving today’s marketplace, led by online stalwarts such as Amazon and Walmart.
But data, and the insights it provides, doesn’t have to be the domain of these monoliths, says Emily Engstrom, director of client success for AdvantEdge Analytics, a CUNA Strategic Services alliance provider.
During the CUNA Financial Council Virtual Conference Conference, she provided insights on using data to gain insight on member trends.
“These large companies think they know your members, but they don’t have access to a fraction of the data and insights about your members that you do,” Engstrom says. “Within your credit union walls, you know where your members are shopping. You know their patterns, their transactions, where they have other financial relationships, and so much more.”
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