Linda Young

How much bigger did big data get?

23 March 2016

Linda Young

Linda Young

BIG

STRUCTURED

UNSTRUCTURED 3Vs

DESCRIPTIVE PREDICTIVE

Linda Young

TRANSACTIONAL MEMBER

FINANCIAL

COMPETITIVE

RISK SALES

PERFORMANCE

Linda Young

WAREHOUSE INTELLIGENCE INTEGRITY

INTEGRATION

MANAGEMENT QUALITY

GOVERNANCE

Linda Young

ANALYSTS SCIENTISTS

CHAMPIONS

Linda Young

BIG

STRUCTURED UNSTRUCTURED

3Vs

TRANSACTIONAL MEMBER

FINANCIAL COMPETITIVE

DESCRIPTIVE PREDICTIVE

WAREHOUSE INTELLIGENCE

INTEGRITY INTEGRATION MANAGEMENT

QUALITY

GOVERNANCE

ANALYSTS SCIENTISTS CHAMPIONS

RISK

SALES PERFORMANCE

Linda Young

BUT WAIT… WHAT IS IT EXACTLY?

Linda Young

PIECES OF INFORMATION: - ITCHING TO BE LOOKED AT - MADE SENSE OF - (RE) ORGANIZED - CALCULATED

IT ENABLES OUTCOMES BUT IS NOT ITSELF AN OUTCOME

Linda Young

Power of Inquiry – Makes data come alive!

•  Data is nothing without questions.

•  Powerful questions set the context and drive urgency.

•  Start by asking what you want to know.

•  Then ask yourself what you’re going to do once you have the answers.

Linda Young

Be curious! •  Underlying drive to want

to better understand •  Questions are posed to

explore topics or ideas not shut them down

•  The more culturally curious your credit union is, the healthier it is to fuel inquiry

•  Plus the better data driven decisions will be

Linda Young

“Indeed, the ability to ask the right questions has enabled business leaders to adapt in a rapidly changing marketplace… Inquiring minds can identify new opportunities and fresh possibilities before competitors become aware of them. All of which means that, whereas in the past one needed to appear to have “all the answers” in order to rise in companies, today, at least in some enlightened segments of the business world, the corner office is there for the askers.”

Linda Young

•  Who are my members? •  What do members really need from us? •  What products and services are serving

those needs?

Many curiosities about members

•  What are the characteristics of the next generation and how can we serve them better?

•  How can we [credit unions] better utilize social media so it is meaningful for our members?

•  Why did they [members] choose to join a credit union?

•  Where else do members bank? Why?

•  What does community mean for members?

•  What future regulations do we need to be aware of? How will it impact the credit union’s strategic direction?

Linda Young

•  Better serve existing members and retain them over the long term. •  Attract new members. •  Create products and offer services that would be more relevant. •  Identify a competitive edge over other financial institutions. •  Better plan for a stronger future.

Translating data and insights to…

An example…

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Building a point of view

Linda Young

The Data Journey (in 2015)

Linda Young

Stages of Analytical Maturity

Analytically Impaired

Localized Analytics

Analytical Aspirations

Analytical Company

Analytical Competitor

Where most credit unions are

Based on 30+ in-depth interviews with CU, partners and data experts

“Competing on Analytics: The New Science of Winning”

by Thomas Davenport and Jeanne Harris

REPORT

Rightsizing Big Data for Credit UnionsLinda Young, Founder, ponderpickle

Linda Young

Online Assessment Results •  79 completed assessments •  Not a randomly representative sample •  There may be self selection and self reporting biases

3% 22% 39% 6% 32%

REPORT

Rightsizing Big Data for Credit UnionsLinda Young, Founder, ponderpickle

Refer to Page 12 of the Report for further details of each stage

Linda Young

Technology: •  Quality of data •  Analytical tools •  Data infrastructure

Where you are on this journey? People:

•  Analytical skillsets •  Leadership and cultural

attitudes to support and foster evidence based decision making

Organizational Framework: •  Ability to generate insights •  Thorough performance measures •  Well defined analysis processes integrated into operational

activities

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The Data Journey (in 2025)

Linda Young

•  Better serving existing members and retain them over the long term.

•  Attracting new members. •  Creating products and offer services that would be more relevant. •  Having a competitive edge over other financial institutions. •  Living a stronger future.

How successful were you at…

What else became a lot more important?

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factor into things?

How much did

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What ideas or information from this

session made you sit up?

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What can we act on right away?

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What needs to happen next?

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Final Thoughts “The true sign of intelligence is not knowledge but imagination.”

Albert Einstein

Linda Young

Thank you! Linda Young Founder | ponderpickle innovation + insights + strategy linda@ponderpickle.com Suite 203 - 288 W 8th Avenue Vancouver, BC Canada V5Y 1N5 www.ponderpickle.com