Fresh strategies to drive credit union revenue using analytics
The increasing reliance on analyzing large volumes of data is becoming more and more prevalent across a broad spectrum of verticals that seek to maximize profits and deliver better services to their customers.
The choppy waters of today’s global economy mandates that financial institutions stay operationally nimble, which is why analytics are becoming more of a necessity rather than an option to drive revenue.
This is especially true for smaller credit unions that may have limited strategic resources but strive to increase membership, improve ROI and grow their business.
And the numbers pointing to the sheer brawn that big data can bring to a credit union’s bottom line is compelling and makes its strategic implementation a no-brainer.
A recent Nucleus Research study showed that an incremental 241% ROI can be generated by applying data to business decisions. That’s a huge boost for credit unions that know how to use a vast wealth of customer data to make profitable decisions.continue reading »