A Guide to Business Analytics Implementation

July 28, 2020

For credit unions that have thought about becoming data-driven but have been intimidated by undertaking the project, here is a guide to help you understand the steps involved.

One of the most common questions our Business Analytics team receives from credit unions is on the steps to prepare for a business analytics implementation.

Start With a Workshop to Uncover Opportunities

Each new implementation kicks off with a workshop where Aaron Dalziel, team lead of our Business Analytics team and his team collaborate with the client to uncover opportunities. During this workshop, our Analytics team looks to help the credit unions address immediate business needs, to help deliver quick turnaround on their return on invest

Beyond the credit union’s specific needs, the Celero team will also go over the standard library of insights, which have helped other credit unions take actionable steps with their data. This workshop is critical in ensuring that each client’s time-to-value for business analytics is minimal. The ideal situation is that the credit union would go live on a Monday and start recognizing value from the product by the end of the week. And in a lot of ways, that is realistic.

Involve the Right People

The two credit union teams that are typically involved in Business Analytics implementations, are a credit union’s technical staff to support the technological implementations, as well as the business staff, who are expected to be the primary consumers of the analytics solution.

While it may be assumed those supporting from the technical side have to have deep technical knowledge, that is not the case. The main roles of the technical teams during the implementation project are to: perform a small mapping exercise, some data cleanup and user acceptance testing.

As the implementation progresses, the involvement of the business teams increases. Continually, the goal is to understand, using the wealth of data credit union’s have at their fingertips, how they can provide a better member experience, establish stronger relationships with members and interact impactfully with members they see less and less.

Establish Clear Roles and defined teams

At our Business Analytics online panel webinar last Thursday, we heard from Virgilio Grimaldi, Connect First Credit Union’s Manager of Business Analytics, who talked about his team’s experience implementing Celero’s analytics solution.

Virgilio shared that having defined teams was vital to the success of the project. He explained they had two teams working with Celero on this project: one of their teams was a low touchpoint group during the project, who were involved when needed and helped specifically on the business side. The other team interacted with the Celero team on a more regular basis and provided guidance from the technical side, communicating the datasets to bring into the analytics solution to benefit the comprehensive set of business teams.

The strong collaboration with the Celero team, as well as Connect First’s establishment of a champion to run with the solution following implementation, was very impactful to Connect First’s implementation being completed approximately one month ahead of schedule.

Roll it out Internally

While insight into your data is a great value, the greatest value you can receive from this solution will be when your organization has bought in to the benefits and value this solution can help deliver. So, one of the most important things is to ensure is that you’ve set aside time to create an internal roll out plan of this solution. This has proven to be successful in the past with our current credit unions as they’ve started small with who they’re involving and expand that continuously until all teams are leveraging the solution in some capacity.

Seek out a Champion

Finally, ensure you have a champion(s) within your organization to continuously seek opportunities for the solution to expand and grow in usage within your organization. Whether your sponsor, marketing team, or business development team, having a champion has proven to be a great indicator of success with this solution.

If you’d like a one-on-one consultation with Aaron to discuss your immediate business needs and how Celero’s Business Analytics solution could provide value to your organization, please sign up here.


Related posts: 

Business Analytics: How to Leverage Data to Transform the Way Your Credit Union Serves Members 

Everything You Need to Know About Celero's Product Families 

Four Ways Credit Unions Can Leverage Business Analytics to Engage Members 

Stories of Success: How Credit Unions are Using Celero’s Business Analytics Solution 

Why Christian Credit Union Can’t Live Without Their Business Analytics Solution 


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A Guide to Business Analytics Implementation