AdvantEdge Analytics launches Consulting Services

on "November 25, 2019 1:19 pm"

Credit union data analytics firm AdvantEdge Analytics, a CUNA Strategic Services alliance provider, has launched a Consulting Services business line.

The services complement AdvantEdge Analytics’ cloud-based Data Platform, a set of end-to-end analytics technologies designed specifically for credit unions. Consulting Services may be used with or without integrating the Data Platform.

This strategy-first approach to data transformation relies on a broad set of best practices and principles implemented across a variety of industries. The Consulting Services team designs custom analytics strategies specific to a credit union’s goals. To ease implementation, credit unions receive detailed solution blueprints, an analytics budget, and a prioritized roadmap with achievable timelines and guideposts.

Strategy-first approach

The Strategy-First Approach to Data Analytics whitepaper from AdvantEdge Analytics includes six guideposts for credit unions in the data analytics transformation:

  1. Data analytics strategy—The lack of a definitive strategy is the single largest barrier to data transformation.
  2. Data governance—At a macro level, data governance ensures your credit union’s data is not only available, it’s also useable, secure, accurate, complete, and reliable.
  3. Reporting and analysis—Data and the insights it can deliver are only useful when they are accessible to the right people at the right time.
  4. Advanced analytics—Data maturity involves progressing the business intelligence function from reporting on the past to prescribing the future.
  5. Data environment—Cloud technology has emerged as the most efficient and secure technology for creating a data infrastructure.
  6. Insight activation—An organization has achieved success in the development of an analytics culture when data is embedded throughout the enterprise, informing every decision.

Mike Defnet, president of AdvantEdge Analytics, was recently interviewed by CU Broadcast about the strategy-first approach to data and analytics. Defnet shared why AdvantEdge Analytics launched Consulting Services. "Given our position in the market, we feel a strong responsibility to help credit unions with their data and analytics maturity, and we think consulting is a great way to help get them started on that journey," he said. "We can stage the transition in line with where the credit union is at and what they're capable of doing."

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