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Building Data-Centric CU DNA without Gene Editing


As businesses continue to operate in an increasingly data-driven world, organizations must focus on developing a culture that understands the value of data and is empowered to use it effectively. To achieve this, businesses need to adopt a human-centered approach to data usage, where design thinking comes into play. We will explore how organizations can use design thinking to bake a data-centric culture that drives growth and innovation.


Empathize with Your Customers: The Foundation of Design Thinking

Design thinking begins with empathy - understanding your members' needs, behaviors, and preferences. By conducting user research, businesses can gather valuable insights that drive innovation and enable them to create data-driven solutions that meet the needs of their customers.

The McKinsey Explainer on Design Thinking identifies five process stages - Empathize, Define, Ideate, Prototype, and Test. Data plays a critical role at each stage in driving the process forward.

Define the Problem: Data-Driven Insights for Better Problem-Solving

The second stage of design thinking is problem definition, where businesses must define the problem they are trying to solve. To do this effectively, organizations must utilize the data at their disposal. By synthesizing data, companies can identify patterns and trends that inform problem definition and lead to more effective solutions.

Ideate Solutions: Generating Innovative Ideas Through Data Analysis

The third stage of the design thinking process is ideation, where businesses generate various solutions to the problem at hand. Data analysis is critical to this stage, as it can inspire creative thinking and lead to innovative solutions.

Prototyping and Testing: Using Data to Validate Solutions

The fourth stage of the design thinking process is prototyping and testing, where businesses create prototypes of their solutions and test them with customers. Data is critical in this stage, enabling organizations to validate their solutions and iterate based on customer feedback.

Implementing and Scaling: Building a Data-Centric Culture that Drives Growth

The final stage of the design thinking process is implementing and scaling, where businesses work to implement their solutions and scale them up. Data plays a critical role in this stage, enabling companies to monitor their solutions' effectiveness and iterate based on customer feedback.

The Power of Design Thinking in Building a Data-Centric Culture

Design thinking is a powerful tool for organizations building a data-centric culture that drives innovation and growth. By using data to empathize with customers, define problems, ideate solutions, prototype, test, implement, and scale solutions, businesses can create innovative data-driven solutions that meet the needs of their customers and drive business growth.

 

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Registration for the June session is CLOSING Soon - Wednesday, May 31, 2023


 

Helping you fill knowledge gaps!


We believe that data transformation doesn't have to feel overwhelming or expensive to be impactful. After helping over 600 credit union leaders launch their data journeys, we have identified several consistent knowledge gaps. We have worked hard to fill these gaps with a variety of educational artifacts:


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