Cell phone

Recently, a new data warehouse was put into the hands of our Data Boot Camp participants. This new data warehouse is an exact copy of all production data as of end-of-day from the previous day. By creating a new data warehouse we are capable of not only allowing database administrators to have a new set of data to work with, but we are also increasing the amount of time that our operations team has to produce data exchanges.

 

What I am mostly interested in is studying how a copy of production data from yesterday can become the next greatest library for database administrators to begin dreaming up new routines to calculate insight and to promote credit union products and services. A very simple approach to study may be to look at the members balance today compared to last night and to communicate with the member. If I knew today that the members balance last night was $5,000 greater than it is today, would I have a message for this member? Or vice versa, if the members balance is $5,000 below their balance from last night, would there be a specific message for this member? This is a great new landscape for all of us to study and to understand how we can push each other to move.

 

In speaking with other industry experts who have created external data warehouses, one of the main goals has always been to create marketing automation routines. And in my opinion the SnapShot library is the perfect solution for this. Given that the data is produced every single day, it gives me the ability to quickly react (think punch – counter punch…). So, you may have a desire to look at all members who did something yesterday that requires an action. And that action should be a message that is conducive to the products and services you offer. Should I be communicating with members who received an ACH deposit yesterday that was greater than X dollars? And should I automate this database of members to be refreshed every single day for my marketing/outreach team to send a message?

 

Do you have a plan for how you will use a copy of yesterday’s data?

One Reply to “Yesterday’s Data? What would I do with that?”

  1. Keegan, I think you hit it on the head. Having that SnapShot allows 2 teams to act upon data that might be causing a significant interest. To me that would be Marketing and Collections. Marketing might be able to offer new Certificate specials to someone who’s balance went up quickly that may not have had the means to purchase a CD before. Collections could go either way, either we have new funds available that was unexpected and should help with any arrears or generate awareness in case they become delinquent. I look forward to hearing more from others on how they see this becoming a benefit.

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