ATTENTION ONLINE AND SELF-PROCESSING CREDIT UNIONS:
Effective April 1, we will be clearing statistical history from the “Cash Data” trending graphs in My CU Today. Any stats prior to April 1, 2016, will no longer appear. This was due to a calculation anomaly we discovered that caused cash amounts to be under-reported in certain circumstances. Although not all CUs were affected and the error occurred only occasionally, in order to avoid potential confusion down the road we elected to correct the programs and clear the data so that it can be populated fresh from this point forward.
Do I need to do anything?
No. Just be aware that when you are viewing that particular set of graphs, the trend lines will start as of April 1. (Three separate graphs are affected: Branch Cash Total, Teller Cash Total, and Vault Cash Total.)
Why a data reset?
With a system as new and evolving as this one, it’s likely this could be the first of many data resets that might be necessary for the My CU Today data warehouse. Most of the services related to building our data analytics capabilities as a network (credit unions, CUSO, and key third parties) require this kind of in-the-field active beta engagement. It takes time to test, consider, and identify the value of data and trends, as analysts out the marketplace build their cases for what to track, how to track it, and how to present it. Building data value and data analytics skills means we need credit union leaders like you to engage.
This particular trend line is relatively new, and credit unions and analysts are just starting to consider what to do with this data. So this reset is really along the lines of a normal beta-test adjustment.
But a calculation anomaly is not the only reason we will see these types of adjustments in the future. Why? Simply put, data changes. The value of some trend lines begins to fade, while new, more valuable trend lines fire up. My CU Today and My CU Today Plus are living, breathing laboratories for CUs and our CUSO to develop new ways to see and use data. Over time we will retire ideas that do not pan out, and release new sets of data with promise for the future.
We are also experimenting with the reporting cycles: moving some views from static to trending by reporting more frequently (from monthly to daily, from annual to monthly). We are moving from an interactive processing data warehouse within CU*BASE, to a shared network external data warehouse with the ability to give an analyst an entirely new workbench and potential audience for insights, and to include new stakeholders in on the deal. Like any other endeavor to build and innovate in new spaces, things will change on the way to the future. Working alongside your credit union, we look forward to the journey!