news.cuna.org/articles/106615-countdown-to-denver-examining-big-data-potential

Countdown to Denver: Examining ‘big data’ potential

July 2, 2015

DENVER (7/2/15)--CUNA and the World Council of Credit Unions launch a collaborative event in Denver starting July 11, a meeting that will bring nearly 3,000 credit union leaders from 61 countries together for a look at the present and future of the cooperative financial system.

The "CU in Denver" event combines CUNA's annual America's Credit Union Conference and the World Credit Union Conference into one experience--a collaboration that last occurred in 2010.

CU in DenverThe agenda features renowned keynote speakers, as well as content experts in a broad variety of fields leading breakout sessions each day. News Now will bring you a sneak preview of three of the breakout sessions leading up to the Denver conference.

One breakout session will examine the very hot topic of big data and how that information about credit union members and other consumers is being created at an exponential pace. The information can create opportunities for credit union growth, but also regulatory challenges for credit unions. The session will feature a look into the ways big data is used to transform business, increase efficiency and drive innovation.

Patrick Jury, president/CEO of the Iowa Credit Union League, will moderate a discussion on big data between Shazia Manus, CEO of The Members Group, and Dave Buerger, president/CEO of CUneXus Solutions.

Jury shared with News Now that the discussion will focus on ways credit unions can unlock the potential of big data, including a look at successful big data projects in the financial services sector, as well as the benefits that can be realized through such projects.

Challenges--including analysis, capture, search, storage, sharing, transfer, visualization and information privacy--will also be explored, as will increasing regulatory demands when it comes to big data.

Other questions that will be addressed include:

  • How are terms such as “data,” “big data,” “structured data” and “unstructured data” defined, and how do those definitions create a dialogue that is different from traditional analytics?
     
  • How are organizations seeing increased value and capabilities through the use of data?
     
  • What opportunities for credit unions come along with a greater understanding of data, particularly in the areas of consumer insight, regulatory compliance, market penetration and cross selling? and
     
  • What should credit unions be thinking about today as they prepare for a future where data is a contributing dynamic to member value?

The big data session will take place July 15 from 9 to 10:30 a.m. (MT). The collaborative conference runs from July 11 to 15.