Attending THINK might be one of the best things you can do for your credit union. You’ll learn about industry trends, gain new skills, and make all kinds of new connections. But all these insights, sessions, speeches and conversations can also be overwhelming. To make your THINK experience even more valuable, we are sharing 15 insights that will be referenced and quoted at THINK 18. And, we will continue to share those insights throughout the year as THINK is your connection to insights that affect the credit union industry.
4. Data is the new oil. Here’s why: Data-Savvy Banking Organizations will destroy everyone else. “According to Accenture, “Enterprises must put data at the core, leverage applied intelligence (the spectrum of automation, advanced analytics, machine learning, natural language processing, and other AI technologies) to unlock unique intelligence that is powered by domain and industry expertise. This unique human-machine capability is required to drive innovation and breakthrough results.
Market leaders of the future will be able to access a single source of insight and intelligence that will enable seamless back-office processes and digital customer experiences that are in real-time and add value both for the organization as well as the consumer.
5. Data is vital but it needs a comprehensive look at your credit union: How to build a data-first culture for a digital transformation. “Getting better data is key to eliminating the unknowns of a digital transformation. At Sprint, as CDO Rob Roy explains, leaders called for a new company culture that put data first.”
6. And, most importantly, data quality is everything. Seizing Opportunity in Data Quality. (The cost of bad data is an astonishing 15% to 25% of revenue for most companies.) “Fewer errors mean lower costs, and the key to fewer errors lies in finding and eliminating their root causes. Fortunately, this is not too difficult in most cases. All told, we estimate that two-thirds of these costs can be identified and eliminated — permanently.”
Join us at THINK 18 for a deep dive into the technology shifts and trends that will impact your credit union.