Big or Small, Does Your Data Have It All?

Access to ever-increasing amounts of data can cause anxiety, and sometimes action paralysis. Many marketing professionals ask, “Is there more data I could look at before making a decision?” While large amounts of data may allow for progress on some business questions because more data is available, a recent Forrester Report indicates that while 74% of companies want to be more data driven, only 26% are good at connecting data to actions, citing a lack of resources for expert data interpretation, organization, and management.

How, then, should successful management teams utilize data to craft action plans that deliver tangible value from new knowledge? What are the different types of data that can be used for solution analyses? When is enough (data) enough?

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Primary Financial Institution: Moving from Definition to Execution

Many credit unions find that a formal Primary Financial Institution (PFI) definition is an effective way to measure their most engaged, relevant, loyal, profitable, and “sticky” households (HHs). Whether formally defined or informally outlined, the combination of products and services used to define PFIs are as varied as the institutions themselves. When moving from PFI definition to the execution of an actionable strategy, it is worth noting why management teams go through the PFI process. Check out our latest article for CUInsight and learn how to move from definition to execution.

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