1. Your Members are not just Numbers, but Numbers Help You Understand Your MembersThe best way to build strong relationships with your member is to know your member. Learn their habits, needs, and patterns. In the same way that you can learn more from a video than a snapshot, you can learn more about a person using data over time and analyzing transactional data behavior.Help your members (and your business) by making members’ lives easier. According to Blesson Abraham, CEO and Co-Founder of SavvyIntel, the future of credit unions is to be financial advisors to the financially engaged masses. Credit unions should be able to provide specific offerings to individuals based on transactional behavior.You will continue to experience success by continuing to engage with members. According to Tony Rizzo of Marquis, businesses that have a strategy for engagement are more successful. For example, Starbucks has built a model around building relationships with customers, getting feedback, and utilizing those inputs to create profitable opportunities. Make it easy for your members to utilize your services, and it will reward your business.2. Times are Changing and Credit Unions Need to Keep UpNew technology today means faster changes and greater effects on financial institutions than ever. Therefore, it is very important that credit unions understand and know how to deal with the implications of these changes.Lodging, taxis, and financial institutions are all examples of industries, which have been around for a long time with little innovation. However, recent years have brought disruptors into the industries of lodging and ride services with breakthroughs such as Airbnb and Uber. Both Airbnb and Uber have turned their industries upside down and have one thing in common: they are supported by easy-to-use mobile applications.As these types of innovations grow in number and popularity, credit unions must keep up. Innovations are happening already in the financial lending industry. Credit unions must learn how to cater to the needs of members before they are made irrelevant by the next Uber or Airbnb of lending. According to Anne Legg, CEO of Thrive, credit unions need to understand that “data is king”. Data is the solution to building meaningful relationships with members by understanding their needs and providing solutions to questions they have not even asked.3. More data can lead to either more confusion or more success – It’s your choiceWith the changing technologies and banking methods, it is becoming easier to collect larger quantities of data. This can either overwhelm you and go to waste, or you can utilize the data and it will become your best friend.Larger banks have been heavily investing in analytics and it has been paying off. There are a number of examples to show that mistakes are made when analytics are not used. It is easy for these mistakes to cost hundreds of thousands, if not millions of dollars. In order to stay relevant and competitively meet the needs of your members, it is increasingly important to effectively utilize data.According to Bill Goedken, CEO of Idea5, credit unions must use analytics, predictive modeling, and marketing to improve and understand trends. It is no longer acceptable to just present numbers. Credit unions need to truly understand their data and tell the story of what the numbers mean.4. Data has Two SidesThe key to effectively utilizing data analytics is understanding the two different sides: descriptive and predictive. You can collect all the data in the world, but it is not very helpful until you learn to analyze the data and build predictive models, from which you can base future decisions for the company. According to Rahul Nawab, the CEO and Co-Founder of IQR Consulting, hindsight plus insight equals foresight. You will not be able to successfully predict future trends until you have collected and analyzed the past data.Once the data is collected and inputted successfully, you have a very powerful tool. You can use the data to learn solutions to pre-determined problems, or even use “data lake” technologies to uncover unseen trends and correlations.5. Getting Started is Easier than You ThinkBeginning to integrate data and using predictive analytics can seem like a huge and overwhelming step. Like most projects, start with a goal. To build a house, design the house before collecting materials. When building a data warehouse, determine the goals for the data and create a strategy. After a strategy is set, the data to collect and the method of organization can be determined. At that point, the strategy can be executed to meet the goals.Like any big decision, there are likely some reservations. A common concern with big data is the members’ perceptions. Some members might have concerns revealing private information because they are worried about being “stalked”. However, the credit union’s role is utilizing data, not stalking members. Data allows the credit union to leverage information for the benefit of members.Another concern of credit unions might be a lack of software. The number of software options can be overwhelming. Think back to the strategy for using data and use that as a guide to evaluate software.A third concern for credit unions is likely lack of expertise. Most credit unions do not employ data scientists to drive the analytics effort. Fortunately, many excellent vendors operate in this market ready to provide expertise so the credit union can get started. It is important, however, for the credit union to use this opportunity to learn and develop an internal capability over time. There is no better judge of what business questions need to be answered than the credit union. Analytics that are targeted at critical business questions create the most value. 39SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Austin Wentzlaff Austin J. Wentzlaff joined OnApproach in 2013 as a Business Development Analyst and is now currently Director of Business Development. He is responsible for developing marketing strategies, driving prospects to … Web: www.onapproach.net Details
Quarantine troubles? Kristin Chenoweth revealed that in the beginning stages of the coronavirus pandemic shutdowns she feared her boyfriend, Josh Bryant, might end their relationship.“I think I maybe had a crying moment,” Chenoweth, 52, exclusively told Us Weekly on Wednesday, November 11, reflecting on her freak-out. “And I said, ‘Are you ever going to? Are you going to break up with me?’ Because, you know, we were together 24/7.”- Advertisement – The Candy Land host noted that fear of the relationship ending came after seven weeks of quarantining with the guitarist in New York City.Josh Bryant and Kristin Chenoweth. Evan Agostini/Invision/AP/Shutterstock“That is really a testament to our relationship,” she explained. “He just held my hand. I think I held his at different times, and we were there for each other. That’s really what it’s about.”The Broadway star revealed that the pair have kept up with their date nights amid the pandemic, but they do look different.- Advertisement – “Golly. That’s a separate interview,” she joked. “Honestly, I’ve never really been that girl. I think I’m going to take life each day as it comes, especially now during this time.”The couple are, however, gearing up for the holidays and hoping to make the most of the celebrations after a rough year.“I don’t think any of us will disagree that 2020 has been not the best. But the good thing is that in my family, around the holidays, we don’t play around,” she explained. “When it comes to food, we eat. I personally am not a cook. I like things that come in packages.”Chenoweth revealed that she is turning to Kellogg’s Do It Yuleself DIY recipes and ideas on how to make the holidays extra special … and super simple.“I like to open and eat, OK. Open and eat. It’s a two-stop shop,” she said, noting that Kellogg’s crackers has created different cheeseboard how-tos for gatherings small and big. “Really, I’m just here to remind everybody about snacks!”With reporting by Christina GaribaldiListen to Us Weekly’s Hot Hollywood as each week the editors of Us break down the hottest entertainment news stories! “He’s a cook. I’m not. Let me repeat, I am not,” Chenoweth told Us while promoting her partnership with Kellogg’s crackers. “I know he loves to cook. We would do our grocery store runs in the middle of the night, so as to be safe, and he would get all the ingredients and he makes a great chicken pasta parmesan.”The Pushing Daisies alum noted that she makes salad during their romantic meals, which means “opening up the bag and pouring into a bowl.”The Holidate actress was first linked to Bryant in August 2018. Although they’ve gotten closer amid the pandemic, Chenoweth doesn’t know if they’ll ever get married.- Advertisement – – Advertisement –
Gov. Wolf Visits Kindergarteners Using PAsmart-Funded Robots to Learn Coding SHARE Email Facebook Twitter November 15, 2019 Education, PAsmart, Press Release, Schools That Teach Prospect Park, PA – Governor Tom Wolf toured the Interboro Kindergarten Academy in Delaware County today to talk with kindergarten students using robots to learn about programming and coding. The Interboro School District purchased the robots with a grant through the governor’s PAsmart program which is expanding science, technology, engineering and math (STEM) education in classrooms across the commonwealth.“Preparing young people for the jobs of tomorrow starts by bringing STEM learning directly to students today,” said Governor Wolf. “These students will experience tremendous technological advances in their careers in every job. Programs like this are preparing them now with the skills to thrive.”The governor has secured $70 million for PAsmart over two years. In the inaugural year, the Wolf administration awarded nearly $10 million, of up to $35,000 each, to 765 schools, including Interboro Kindergarten Academy, to expand computer science classes and teacher training. An additional $10 million in advancing grants, up to $500,000 each, was awarded to 24 schools and community partnerships. The remaining $10 million supported apprenticeships and job training. The grant availability for this school year will be announced soon.“PAsmart provides the funding so schools, industry and communities can build the partnerships that focus on great STEM learning. This is about investing in our future so people can compete for good-paying, in-demand jobs and emerging businesses expand here and strengthen the economy for everyone.”During the tour, the governor visited kindergarten students using KIBO robots purchased with PAsmart funds. Teachers use the robots to engage students in small groups to learn about computer programing and coding.The PAsmart grant also enabled teachers in the school district to attend multiple workshops on design thinking, coding and engineering as well as participate in the Pennsylvania Computer Science for All Summit, held by the Department of Education. From that experience, the district created a K-5 computer science curriculum that blends hands-on and technology-based programming.PAsmart has made Pennsylvania a national leader in STEM and computer science education. Accomplishments under Governor Wolf include:Ranking second in the nation for investments in computer science education;Advancing Pennsylvania to third in the nation in the number of nationally-recognized STEM ecosystems and making the commonwealth the fifth largest producer of STEM graduates;Establishing standards for computer science education in all Pennsylvania schools;Joining the Governors’ Partnership for K-12 Computer Science, a bipartisan initiative organized by Code.org, to advance policy, funding, and professional learning for computer science education.The State Board of Education recently directed the Department of Education to begin the process of updating Pennsylvania’s science standards.