We’re Awash in Data – How to Make Sense of It All?

With apologies to Samuel Taylor Coleridge, there is “data, data everywhere without a thought to think.” While that’s not technically true for the financial service industry, it makes a point similar to that of “The Rime of the Ancient Mariner” — Data without understanding, analysis, and application results in nothing more than a handful of numbers, statistics, or other information points that make little or no contribution to your strategic goals and objectives. And that’s no way to run your credit union’s mortgage lending department.

Data, in the classical sense, are facts and statistics mined from reliable sources and pertinent to the subject area for which they’ve been gathered. That’s fine, of course, and data is the best way to drive the strategic development of your credit union’s mortgage lending program. However, data without context, collected without a specific rationale or a distinct goal in mind, are likely to be inapplicable to your strategies. Data only becomes knowledge if you know what it means within your context and understand how to use it effectively to achieve your business goals.

Naveen Jain, former vice president of data analytics for $14 billion asset First Tech Credit Union and founder and president of CULytics, has significant experience and a deep understanding of how data can be analyzed and used to beat the competition and achieve the economic and strategic goals of credit union mortgage lending efforts. He joins with former credit union mortgage lending executive and ACUMA President Peter Benjamin to apply data-driven analysis in ways that will help you grow your business, increase efficiency, and minimize losses from fraud and default. Throughout the discussion, the pair will explore business and use cases where data analytics have resulted in smooth sailing for other credit unions.

Ultimately, it’s not how much data you have but how you curate and use what you’ve got to navigate the competitive seas of credit union mortgage lending to find a safe port for your credit union and its members. Register to set sail now.

1. This session will be interactive so come with your questions.
2. Open to anyone.
3. Session will be recorded.
4. By registering for this event, you submit your information to the webinar organizer and sponsor, who will use it to communicate with you regarding this event and their other services.