The challenge

This US-based credit union was on a journey to develop an increasingly data-led culture. The core aim was to incorporate fluent insight delivery that could effectively support decisions at the point of need in the business. With abundant information at its fingertips in the form of behavioural, transactional, and operational data, the opportunity for analytics insight is huge.

The solution

To provide a solution to this problem, Lynchpin put together a team that could work alongside the business and help to draw out the insights that were needed. We took an adaptable approach that enabled us to work as an extension to the current BI team and to the business functions at the direct point of need. This flexible and integrated engagement model allowed us to easily extend the engagement as required.

The method

  1. Establish & Embed: Lynchpin conducted a series of stakeholder orientation workshops in
    order to discover the key pain points across the business.
  2. Data Discovery: A data discovery phase was key to review and assess what data sources were available and how these could support the core analysis goals that the business was looking to achieve.
  3. Requirements Analysis: In parallel to the Data Discovery, Lynchpin assessed the options
    for delivery of initial high-priority items required. Our aim was to strike a balance between enabling an early flow of key analysis outputs while also developing a longer-term plan for analytics maturity.
  4. Analytics Roadmap Development & Delivery: Key focus areas identified for analytics insight were
    1. Understanding the member base
    2. Driving member growth and engagement
    3. Identifying opportunities to reduce costs & improve efficiencies

The results

  • The business developed an increased understanding about member base, enabling data- driven strategies to reduce churn, increase engagement and member growth.
  • Opportunities to reduce costs were identified through insight gained from survey outreach programmes, including ways to optimise branch, online and call centre engagements.
  • Scenario planning tools were implemented to test future member engagement initiatives.
  • Product-focused analysis uncovered opportunities for increased engagement and potential for cross-sell.