Most of us have heard of big data. But “emotional data” may be a new term to many.
Grant Gooding, founder of Proof, defines emotional data as the qualitative and quantitative measurement of emotions, preferences that help explain human behaviors, and interactions.
“Where data can tell you who, what, where, when, and how, emotional data helps answer why,” Gooding says.
Gooding says emotional data should answer a series of burning questions such as:
“To put it another way: These are the questions that are preventing your credit union from onboarding new members,” Gooding says. “These are the reasons why members are leaving.”
He says credit union unions should use emotional data when:
Gooding says today’s leaders are increasingly forced to work under the constraints of big data—the who, what, where, when, and how—without understanding the why.
He says the best way to collect emotional data is through surveys that find what’s important to current and prospective members.
Also, the approach taken in solving technical problems is often more important than actually solving the problem, he adds. Personal conversations are crucial.
“Solving a problem is not nearly important as how you solve the problem,” Gooding says. “Having a nice conversation with a person, having that really nice brand touch is important to people.”
He addressed a CUNA Councils Virtual Roundtable.