Never has this been truer than today in a credit union. With Covid accelerating the digital experience by seven years, staff turnover at unprecedented levels, the ability to learn and keep learning is now more critical than ever.
One of the most significant organizational knowledge gaps at a credit union is the understanding of data success.
Data is one of the most robust assets any enterprise can have, and credit unions are in a fortunate position to have a plethora of it.
When connected, data can produce valuable insights. With this knowledge comes the ability to change, innovate and improve processes. This knowledge also allows the credit union to get in front of the member and deliver what the member wants when they want it. This is the power of digital transformation.
Understanding the core competency in data knowledge will only strengthen a credit union's success in launching a data effort.
To build proficiency in a data core competency, a credit union should identify its current knowledge gaps.
Here is a list of the following educational domains that elevate their enterprise data success:
Enterprise data vision
Member-centered data use case
Understanding/defining data maturity
Essentials of data governance
Creative data consumption by enterprise talent
Workplace adoption of data
Assess the leadership team on their understanding of these domains. In most cases, credit unions have some elements of each domain but are not formally leveraging their knowledge. Once the credit union understands the knowledge gaps, they can build an education program to fill those gaps.
For true data success, take the time to build up a data knowledge capability. It will pay back in dividends.
7 Session, Data Education Course!
Data is a vital part of helping your credit union and members thrive into the future. Brought to you by the Illinois Credit Union League and THRIVE, this integrated data education offering will jump-start your data journey. Sign up today! Registration closes on April, 7th!
What students are saying about the 7-Class Data Education Series
"The Data Transformation Class Series was transformational for me! I have wanted to develop a formal data program at my credit union for a long time but wasn’t quite sure how to do it. Anne taught us why we should do it, how to get started and what a good program looks like. Through practical exercises, we put in place the necessary building blocks culminating in a data transformation roadmap. I walked away confident I could now effectively leverage the data at my credit union to fulfill our mission to serve our members. I appreciated Anne’s enthusiasm and knowledge. It was a great experience!" CFO at $600 million asset credit union
Let THRIVE fill enterprise knowledge gaps!
Looking or a Little Data Education - DIY?
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: