Six Questions with ...
Bill Daily, Rio Grande Credit Union
Bill Daily, Vice President of Marketing & Member Experience at Rio Grande Credit Union, engaged with Compellon on a project basis to analyze his annual Member Experience Survey data. As part of our Six Questions Series, Bill took the time to answer six questions about his project and his experience with Compellon.
1. What outcomes do your models predict?
We’ve identified Overall Satisfaction as a critical strategic measure for Rio Grande Credit Union over the next three years. Moving the needle on overall satisfaction, even in small organizations, is a tricky thing. Compellon’s analytics engine allows us to align our efforts in a fact-based manner across the senior leadership and branch leadership teams. Having a model focused on improving top-box satisfaction and mitigating bottom-box scores allows us to prioritize our activities.
2. What problems are you trying to solve by working with Compellon? How have predictive and prescriptive analytics delivered value for you?
Compellon 20|20 helps solve the “where do we start?” problem. Without this platform, we’d default to working on projects that gain operational efficiencies but might not necessarily make the life of our members any easier. For example, we know our membership application process is fairly extensive. Prior to using Compellon, to streamline the process we might just remove all questions that were not regulatory required. With Compellon, we identified trust as a strong OSAT driver, so instead, we will evaluate the process based on the amount of trust it generates. It really helps put a different lens on problems.
3. What benefits or advantages did you gain by using Compellon 20|20 over traditional analytical methods?
Using traditional regression models, we would determine discrete levers that could impact Overall Satisfaction. With Compellon 20|20, we can see how these levers interact with each other to form their own particular ecosystem. This makes the efforts we deploy to improve Overall Satisfaction much more focused than simply, “We need to train our branch staff to smile more.”
4. Can you describe a quantitative result, e.g., ROI, cost/time savings, bump in NPS, etc., you achieved by taking action on the Compellon 20|20 outputs?
Immediate results we’ve experienced are savings in time and effort. Using Compellon allowed us to take large data sets, quickly determine satisfaction drivers, then focus the team on those vital few activities that generate the most payoff. Without Compellon, we would be dispersing our scarce resources across too many ineffective activities and hoping for the best.
5. Can you share an interesting or surprising finding or insight discovered while analyzing your data using Compellon?
When we examined likelihood to recommend (LTR) for both Promoters and Detractors, we learned that a positive member experience in our branches did not necessarily generate strong Promoters; however, a recent experience where a member rated an employee’s product knowledge as low drove detraction. Said another way, our employees have to really know their stuff to keep our members coming back. And that doesn’t generate much LTR. Some changes you have to make so you keep the satisfaction you already have.
6. What are your next steps? How will you operationalize what you learned?
We’re going to validate the findings with some qualitative mystery shopping. After taking the Compellon analysis and matching it up with the qualitative findings, we’ll be able to identify critical moments of truth that must be changed to drive Overall Satisfaction. Even without the qualitative research, I’ll be using the Compellon analysis to create consensus on the senior leadership team about the depth of effort required to move Overall Satisfaction. In and of itself, that is no mean feat.
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