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CUAnalyticsPlatformAnOpportunityforALLCreditUnionstoRe-InventThemselves
CommunityCreditUnionConferenceNovember15th,2016
TheIntercontinental,Dallas,TX
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WhyBigDataIsACULeagueOpportunity…
1. Relevanceamongstallcreditunions2. Significantrealandon-goingrevenueopportunity3. Opportunitytobecome“epicenter”ofdataforindustryvs
bystander4. CollaborationiskeytosecuringthefutureCU’s– theywillnot
winthisbattleontheirown
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1999 – Launcheswebsite;30employees
2000 – OfferedtoBlockbusterfor$50M
2007 – Deliversit’sbillionthDVD
2008 – LaunchesStreamingVideo
2016 –HULU/Amazon– MCap =$38B
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#1ChallengeforCUCEOs…..
Howtostayrelevanttoyourmostvaluablemembers
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In2016,thePewResearchCenterfoundthatMillennialssurpassedBabyBoomerstobecomethelargestlivinggenerationintheUnitedStates.Byanalyzing2015U.S
Censusdatatheyfoundtherewere 75.4millionMillennialscomparedto 74.9million BabyBoomers.
WhyDoesMemberEngagementMatter?
75.4Million74.9Million
https://vimeo.com/190801642
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AnalyticsisNOTanITProject…..
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TheAnalyticsChallenge
10
Companies like Amazon use data to make you love them
Optimization
Predictive Modeling
Forecasting
Reporting/OLAP
Data Management
Data Access95%
of credit unions
5%of credit unions
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TheAnalyticsChallenge
11
Optimization
Predictive Modeling
Forecasting
Reporting/OLAP
Data Management
Data Access
Little Data
Big Data
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WhatIsTheROIofAnalytics?From… To…DirectMailCampaigns 1:1OmniChannel Marketing
RespondingtoMemberRequests
Using analyticstopredictmemberneeds
MCIF – FormulaDrivenMemberProfitability
A DailyMeasureofeachMember’sActualContributiontoNI
Reliance onFICO Creation ofNewCreditScores
FollowingTheTraditionalLendingMarkets
DiscoveringNewMarketOpportunitiesviaRiskBasedPricing
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FailureToRe-Invent…
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Challenge#1– DisparateData
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Challenge#2– OutsourcedAnalytics
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MonetizingData
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Challenge#3– LackofResources
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Challenge#4– TimeToMarket
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ACURenaissance…..timetoRe-Invent
Technology
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Re-Invention=OpportunityforCULeagues
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InformationSilos
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22
Datastandards aretherulesbywhich data aredescribedandrecorded.Inordertoshare,exchange,andunderstand data,wemuststandardizetheformataswellasthemeaning
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AccessToSkilledResources
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CultureofFactBasedDecisionMaking
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RevenueOpportunitiesforLeagues1. Education2. Training3. Planning&Coaching4. Seeding&GrowthofNetworks
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Re-Invention….
Technology
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TheAnalyticsTechnologyStack
Applications(BI)
DataIntegration(EDW)
PredictiveAnalytics
Expertise
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The M360 Solution
Credit Union Big Data Analytics
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BigDataComputingPower…theoldway…
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TheNewWay…….Hadoop+Map/R+NoSQL
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TheDIYOption
Budget:$2.0Million3Years
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ThisisBIG“Industry”Problem..• ATMNetworks• Sharedbranching
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SurvivalofTheBiggest?
33
ABILITYTOEXECUTE
COMPLETEN
ESSOFVISION
Over3B:24MMembers
(47CUs)
100M- 1B38MMembers(1,305CUs)
1B- 3B:24MMembers(193CUs)
Below100M15MMembers(4,739CUs)
6,284CreditUnions102MillionMembers
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X-BoxCaseStudy– ALessonforCUs
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for Big Data / Analytics
A CU Industry Solution
M360 Credit Union Instance
M360 Service Bureau
M360 Service Bureau Instance
Unstructured Data
Securing the Industry’s Data
Speed
Collaboration
Large Data Pools
Innovation
Normalized Transactional Data
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RevenueOpportunitiesforLeagues1. Education2. Training3. Planning&Coaching4. Seeding&GrowthofNetworks5. Referrals6. ServiceBureau7. TechnicalServices(eg.Reportwriting)8. LeagueLevelPerformanceBenchmarking9. MerchantPrograms
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InClosing…• Disruptionhasstarted– thetimetore-inventisNOW• Thisistoobigachallengeforanyonecreditunion• Collaborationistheonlywaytosolvethis• TheCUAnalyticsPlatformisthesolution• ThisisalsoanexcellentopportunityforCULeaguestore-invent