For any enterprise to harness and leverage their data to improve their member's lives, they need to have the following:
Straightforward, data vision and strategy
Member-centric use case
Data maturity (with rock star data governance)
A data-centric culture
Road map for workplace adoption.
Many organizations may have one of these or a few in very informal
stages., making their data knowledge look more like swiss cheese than gouda.
Here are five questions to help determine the current state of your data knowledge.
Is the enterprise data vision relevant?
Take a moment to review the organization's data vision. What was the business problem identified that data will solve? Does it seem relevant? How should it be adjusted or completely scraped?
What friction do our members/customers experience doing business with us?
Your members/customers are engaging with your organization in ways they may not have in the past. The iterative changes your organization can make to reducing friction will prove beneficial both in the short and long term.
What is the current state of our data culture?
Taking a moment to identify the good, the bad, and the ugly of your "new normal" will help bring clarity to positive aspects of your organization's culture and what to continue to encourage, foster and feed.
What is the current state of our organizational data maturity?
Take a moment to review the current state of
your organizations' data maturity. What is the current state of your organizations' data? Do you have a formal data governance program? If data maturity feels like a low priority, then please take a moment to adjust your thinking. Data maturity is the foundation, the blueprint, the architectural renderings to your dream data home. Most home building experts will never head to an open piece of land and just digging and hope to create a home. Why would you do that with your data?
What does your workplace adoption road map look like?
What are the time horizons? Does it include workflows for strategy, culture, data maturity, and member-centric use case development?
If you have more swiss in your data knowledge than gouda, it is absolutely ok. These knowledge gaps are the perfect place to start. When they are filled, your enterprise will begin to resemble a beautifully aged gouda.
Where can I fill my data knowledge gaps?
With a stop at the
Data Education Center.
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:
What if I want something more? Does someone offer data education classes with real-world applications?
Yep, that is what we do, of course, and so much more. To learn more, please review our data transformation institute