Most data transformation projects fail: Here’s how to do them right

Here’s an uncomfortable reality that our Credit Union comrades must grapple with: a whopping 84% of digital transformations fail, according to Forbes.

And this isn’t just a Credit Union issue; it’s an industry-wide epidemic, with every data point on the internet citing a two-thirds or higher failure rate.

What truly unnerves us about this staggering statistic is the impact it has on our Credit Union members. After all, they are the reason we exist, and they’re relying on us to navigate these turbulent economic times.

We’re not just talking about a failed project or wasted resources here. We’re talking about failing to provide the timely and effective help our members desperately need. If we can’t access our member data on-demand, and if we can’t swiftly convert insights into action – how can we genuinely assist them? How can we live up to our promise to be their trusted financial partner?

 

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