The “Yin and Yang” of credit union reporting/analytics software: 3 factors to consider

by OnApproach

by: Paul Ablack

As a veteran of the Business Intelligence (BI) industry, which is now being eclipsed by Big Data and Analytics, I have witnessed many organizations looking for the “perfect BI software”.

For at least a decade now, BI software companies have been striving for leadership in the coveted Gartner Magic Quadrant for Business Intelligence. The Magic Quadrant evaluates BI software vendors on two dimensions: (1) Completeness of Vision and (2) Ability To Execute. While these two dimensions do provide very good insight into the capabilities of each vendor’s product offering, they don’t tell the whole story.

Many IT departments over the years that have gone through the process of acquiring expensive BI software because they were led to believe by the BI vendors that the software was a “Silver Bullet”. Rather than making reporting & analytics easy and accessible across the enterprise, the promise of the Silver Bullet never materialized and it was often relegated to the class of “Failed IT Implementations”.

If you have been charged with the responsibility for choosing the right Reporting/Analytics (R/A) software for your credit union, here are three key factors that must be considered before making a purchasing decision and setting expectations within your credit union.

 

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