Its amazing how skeptical we are as consumers. Every where you look retailers and marketers are dreaming up new ways to put their prospect buyers’ minds at ease. Free returns, 30 day free trials, and various other ‘try it before you buy it’ options. It is as if most consumers have a case of ‘cold feet’ fearing permanent commitment without an exit strategy.
As financial institutions, warranties and returns are less of an issue within our operations. Yet these tendencies still play a huge part of our day to day lives. Not only should we be conscious of these instincts when servicing our members’ financial needs, but its important to recognize that these tendencies may influence ourselves when acting as an agent of our organization.
Whether we are filling a newly created position, choosing a new vendor, or debating trying a new business strategy; its difficult not to look for an exit strategy, a way to return to the norm. “If it sounds too good to be true, it probably is.” I’m sure just about all of us have heard that saying a few times, and I believe its old adages such as this which instill so much caution and doubt into our decision-making process and our drive for a bad decision safety net. Now don’t get me wrong, I am a huge supporter of due diligence and cautious decision making, but there needs to be a balance between caution and progression.
Thirty years ago, accessible, near instant, worldwide communication sounded ‘too good to be true’, along with the cell phone as we know it, as well as autonomous vehicles. The line separating fact from fiction moves every single day which means an imbalance will occur unless we too are adjusting our perception.
If you are new to data driven strategies, debating adding an analyst to join your ranks, considering hiring a vendor, or even just wondering whether you are a good fit for data analytics, I encourage you to reach out to the Asterisk Intelligence team. We have an entire department of individuals ready to answer your data questions, prove value, and even fulfill projects. Still not convinced it is time to invest in your own internal data analytics program? Maybe its time to try it before you buy (into) it.