Category: soptcjdw

12
Jul
2021

Kenya Airways Limited (KA.ug) 2005 Annual Report

first_imgKenya Airways Limited (KA.ug) listed on the Uganda Securities Exchange under the Transport sector has released it’s 2005 annual report.For more information about Kenya Airways Limited (KA.ug) reports, abridged reports, interim earnings results and earnings presentations, visit the Kenya Airways Limited (KA.ug) company page on AfricanFinancials.Document: Kenya Airways Limited (KA.ug)  2005 annual report.Company ProfileKenya Airways Limited is the flag carrier airline of Kenya. It was wholly-owned by the government of Kenya until 1995 when the airline was privatised. Kenya Airways is now a public-private partnership with the largest shareholder being the government of Kenya (48.9%) and the balance owned by KQ Lenders Company 2017 Ltd (38.1%), KLM (7.8%) and private owners (5.2%). Kenya Airways offers domestic and international flights, ground handling services and handles import and export of cargo. Subsidiary companies of Kenya Airways include JamboJet Limited which provides local passenger air transport services, and African Cargo Handling Limited which provides cargo handling services. Kenya Airways Limited is listed on the Uganda Securities Exchangelast_img read more

12
Jul
2021

Kenya Commercial Bank Limited Group (KCB.ug) HY2016 Interim Report

first_imgKenya Commercial Bank Limited Group (KCB.ug) listed on the Uganda Securities Exchange under the Banking sector has released it’s 2016 interim results for the half year.For more information about Kenya Commercial Bank Limited Group (KCB.ug) reports, abridged reports, interim earnings results and earnings presentations, visit the Kenya Commercial Bank Limited Group (KCB.ug) company page on AfricanFinancials.Document: Kenya Commercial Bank Limited Group (KCB.ug)  2016 interim results for the half year.Company ProfileKenya Commercial Bank Limited (KCB Group) is a leading financial institution offering retail and corporate banking services in Uganda through its subsidiary company. KCB Group offers financial solutions ranging from current accounts, overdrafts and loans to fixed and short-term deposits, mortgage finance, trade finance and forex, and business investment accounts. The banking institution participates in investments in treasury bills and bonds with the central banks. Wholly-owned subsidiaries in the banking group include Kenya Commercial Finance Company Limited, Savings & Loan Kenya Limited, Kenya Commercial Bank Nominees Limited, Kencom House Limited, KCB Tanzania Limited, KCB Sudan Limited, KCB Rwanda SA and KCB Uganda Limited. Kenya Commercial Bank Limited is listed on the Uganda Securities Exchangelast_img read more

16
Jun
2021

Red Cross floods appeal reaches £1 million

About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of GoodJobs.org.uk. Researching massive growth in giving. “As the biggest domestic emergency relief operation since the Second World War, we believe it is critical to ensure that the ongoing relief effort can get to those who most need it. We hope our donation to the National Floods Appeal, combined with assisting projects in our region, will go some way to ensure a speedy programme of recovery.”Corporate donations to the appeal have also come from ABN AMRO Mellon, Brit Insurance, Capital One, Centrica, John Lewis Partnership, and Microsoft. Tesco have also donated to Flood Appeal and have also provided food and water for distribution by the Red Cross to people affected by the flooding.Collections have been taking place in Asda stores throughout the country, with the amount raised to be matched by the Asda Foundation. Local Sainsbury’s stores are also supporting the appeal. Land Rover has also provided four vehicles, which have been used to help with the relief efforts in Gloucestershire. The British Red Cross National Floods Appeal total reached £1 million eight days after it was announced. The total includes a £100,000 donation from The Vodafone Group Foundation.Many of Vodafone’s staff who live near their Newbury headquarters have been affected by the flooding. Andrew Dunnett, Director of The Vodafone Group Foundation, said: “The Vodafone Group Foundation felt it was vital to support the British Red Cross to assist communities devastated by the recent floods. Advertisement AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis Tagged with: corporate Giving/Philanthropy Research / statistics Howard Lake | 2 August 2007 | News Red Cross floods appeal reaches £1 million  21 total views,  1 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis read more

12
Jun
2021

We Get Letters

first_img Pasadena Will Allow Vaccinated People to Go Without Masks in Most Settings Starting on Tuesday Community News Your email address will not be published. Required fields are marked * Pasadena’s ‘626 Day’ Aims to Celebrate City, Boost Local Economy 43 recommended0 commentsShareShareTweetSharePin it Make a comment faithfernandez More » ShareTweetShare on Google+Pin on PinterestSend with WhatsApp,Virtual Schools PasadenaHomes Solve Community/Gov/Pub SafetyCitizen Service CenterPASADENA EVENTS & ACTIVITIES CALENDARClick here for Movie Showtimes EVENTS & ENTERTAINMENT | FOOD & DRINK | THE ARTS | REAL ESTATE | HOME & GARDEN | WELLNESS | SOCIAL SCENE | GETAWAYS | PARENTS & KIDS Shop at Vroman’s Bookstore. Image via FacebookHelp Save a Pasadena TreasureAs many book lovers know, Vroman’s, an irreplaceable Pasadena Treasure, is in danger of going out of business. Throughout their 126-year history, Vroman’s has been there for us with their patronage of various local charities, as well as their financial support of many community organizations and businesses to the tune of $750,000.00 through their Gives Back Program. They have offered many educational courses and have contracted numerous world-renowned speakers and authors who have enriched our lives with endless hours of book talks featuring lectures on a wide variety of topics. As a local author, I greatly appreciated their encouragement and support through their Local Authors Program that enabled me to present book talks at Vroman’s where my books were sold.Vroman’s is not just a book store; it is an integral part of our community that provides multiple services from their main branch on Colorado and their eastern branch in Hastings Ranch. Now that they are on the brink of shutting down, it is time for our community to return their generous support by helping them survive their financial difficulties. Their sales are down by 40% compared to previous years, so this deep reduction in revenue is not sustainable. We cannot allow them to go under.How can we help? The obvious answer is to buy books and to spread the word. Send multiple emails to friends and relatives, post on social media, forgo ordering online and support this local business. Christmas will soon be upon us, so what better time to do some early shopping and give books for Christmas, birthdays, and other special occasions? I have asked people to send me their Christmas book wish lists so I can purchase these gifts as soon as they send their lists. The earlier we shop, the more time Vroman’s staff will have to order books not currently in stock. You can order online, use curb-side pick-up service, or enjoy safe in-person shopping in both stores. What could be easier?Please help to save our beloved Vroman’s. Together we can do this!Linda SimmonsPasadena ResidentRetired EducatorGot something to say, email Managing Editor André Coleman, at [email protected] Top of the News HerbeautyHe Is Totally In Love With You If He Does These 7 ThingsHerbeautyHerbeautyHerbeautyIs It Bad To Give Your Boyfriend An Ultimatum?HerbeautyHerbeautyHerbeauty8 Gift Ideas Your New BF Will Definitely LikeHerbeautyHerbeautyHerbeauty8 Easy Exotic Meals Anyone Can MakeHerbeautyHerbeautyHerbeauty7 Most Startling Movie Moments We Didn’t Realize Were InsensitiveHerbeautyHerbeautyHerbeautyPretty Or Not: 5 Things You Didn’t Know About BeautyHerbeautyHerbeautycenter_img Get our daily Pasadena newspaper in your email box. Free.Get all the latest Pasadena news, more than 10 fresh stories daily, 7 days a week at 7 a.m. Subscribe First Heatwave Expected Next Week Opinion & Columnists We Get Letters Published on Wednesday, September 30, 2020 | 3:30 am Community News Business News More Cool Stuff Name (required)  Mail (required) (not be published)  Website  Home of the Week: Unique Pasadena Home Located on Madeline Drive, Pasadenalast_img read more

02
Jun
2021

Graduations start today

first_img Noel earns award WhatsApp Facebook OCA top 2 were ESL students WhatsApp Local NewsEducation Graduations start today Pinterest Home Local News Education Graduations start today Pinterest By admin – May 25, 2018 center_img Twitter Facebook Twitter Southern Style Potato SaladFruit Salad to Die ForFoolproof Roasted Pork TenderloinPowered By 10 Sec Mama’s Deviled Eggs NextStay Recruit graduate Bandy Blackmon gets his badge pinned on by his son, Brenton Blackmon as Bandy’s mother Malissa Blackmon looks on. Odessa Police Department held their Police Academy Graduation at the MCM Elegante Hotel Friday. Registration set for engineering camp George H.W. Bush New Tech Odessa will have its commencement at 2 p.m. today at the Wagner Noel Performing Arts Center.At 8:30 p.m. today, Permian High School will hold its ceremony at Ratliff Stadium.Odessa High School’s graduation will be at 8:30 p.m. Saturday, also at Ratliff Stadium.In case of bad weather:If one of the schools (Permian or Odessa) is postponed by weather, the ceremony will be held at 5 p.m. Sunday at Ratliff Stadium.If both of the schools (Permian and Odessa) are postponed by weather, the ceremonies will be held on Sunday at Ratliff Stadium with Permian graduating at 6 p.m. and Odessa High graduating at 9 p.m.If the ceremonies for PHS and OHS are postponed all weekend, the makeup ceremonies will be held Monday at Ratliff Stadium with PHS graduating at 9 a.m. and OHS graduating at 11 a.m.In an effort to always provide the best setting for graduation:>> Ratliff Stadium will be open on both the east and west sides to the general public for parking and seating.>> Your graduate will know his/her designated seating for the ceremony. The graduates will be seated facing south in Ratliff Stadium between the 10 and 40 yard lines.>> The stage will be on the south end of Ratliff Stadium in front of the goal line facing north toward the graduates.>> Photos can be taken as the graduate walks in on the track during the processional march. ECISD will have a photographer to take the picture at the time the student receives the diploma.Those attending are requested to follow proper etiquette to honor the graduates. No balloons, bullhorns, or other sound devices are appropriate, the district website said. Previous article‘Transformation Tour’ free concertNext articleTop two at NTO have their futures mapped out admin RELATED ARTICLESMORE FROM AUTHORlast_img read more

26
May
2021

Farmers Protests -‘There Are Chances Of Parties Coming To Some Sort of Understanding’, AG KK Venugopal Tells Supreme Court

first_imgTop StoriesFarmers Protests -‘There Are Chances Of Parties Coming To Some Sort of Understanding’, AG KK Venugopal Tells Supreme Court Live Law News Network6 Jan 2021 12:04 AMShare This – xA three judge bench of the Supreme Court comprising of Chief Justice of India S.A. Bobde, Justice A.S. Bopanna and Justice v. Ramasubramanian on Wednesdayinformed Attorney General of India, Mr. K.K. Venugopal that they will hear the matter on Monday i.e. 11th January 2021. The remark came after the Chief Justice of India SA Bobde observed that there has been no improvement in…Your free access to Live Law has expiredTo read the article, get a premium account.Your Subscription Supports Independent JournalismSubscription starts from ₹ 599+GST (For 6 Months)View PlansPremium account gives you:Unlimited access to Live Law Archives, Weekly/Monthly Digest, Exclusive Notifications, Comments.Reading experience of Ad Free Version, Petition Copies, Judgement/Order Copies.Subscribe NowAlready a subscriber?LoginA three judge bench of the Supreme Court comprising of Chief Justice of India S.A. Bobde, Justice A.S. Bopanna and Justice v. Ramasubramanian on Wednesdayinformed Attorney General of India, Mr. K.K. Venugopal that they will hear the matter on Monday i.e. 11th January 2021. The remark came after the Chief Justice of India SA Bobde observed that there has been no improvement in the situation as far as the farmers protest is concerned. “There is no improvement in the situation.” CJI said. To this, the Attorney General of India informed the bench that “There are chances of the parties coming to some sort of an understanding.” The bench while understanding the seriousness of the matter informed the Attorney General that the court wants to encourage the talks between the government and the farmers’ organizations. “We understand the situation. We want to encourage the talks. We will keep the matter on Monday and will adjourn if you say so.” CJI told Mr. KK Venugopal. The hearing is scheduled to take place on Monday, 11th January 2021.The Bench was hearing the petition filed by Advocate Manohar Lal Sharma challenging the three farm laws that have been enacted by the Parliament recently and have attracted intense opposition from several farmers’ groups across the country.The petition challenges the Farmers Produce Trade and Commerce (Agriculture and Promotion) Act, 2020, Farmers (Empowerment and Protection) Agreement on Price Assurance and Farm Services Act and the Essential Commodities (Amendment) Act 2020. Sharma, in his plea, has stated that “Famers will be compelled to sign / put thumb impression on paper by force and his land, cultivated crops and freedom will be forever under the hand of the corporate houses belong to various political leaders. In fact, it is a butchering of the farmers through these notifications a serious threat to the life, liberty and freedom of the farmers and its family. Therefore, impugned notifications are liable to be quashed”. In earlier proceedings in the matter, the Bench had showed its inclination of setting up an independent committee to mediate between the protesting farmers and the Government. The bench had also allowed the impleadment of 8 farmer organizations in the matter. However, the bench refrained from passing any directions to the impleadment as none of the representative of these organizations appeared before the bench. In another development in the matter, a letter petition has also been filed by 35 students of the Punjab University seeking a detailed inquiry in excessive use of force by the Police and illegal detentions of protesting farmers. It has also been alleged in the letter that the Government has been indulging in vindictive, atrocious and unconstitutional abuse of power to subvert the constitutional rights of farmers to peaceful protest. Subscribe to LiveLaw, enjoy Ad free version and other unlimited features, just INR 599 Click here to Subscribe. All payment options available.loading….Next Storylast_img read more

07
May
2021

Knock me down! Charity boxing event raises record £19,000 for kids’ charity

first_imgHome » News » Agencies & People » Knock me down! Charity boxing event raises record £19,000 for kids’ charity Knock me down! Charity boxing event raises record £19,000 for kids’ charity31st May 20190685 Views Paul Shamplina’s fifth annual charity boxing event Rumble with the Agents held in North London last week raised over £19,000 for Make A Wish UK.The cash raised among the 300 guests, which is £3,000 more than last year, will enable eight critically-ill children to be granted their once-in-a-lifetime wish.During the sell-out black-tie event at The Holiday Inn in Finchley diners watched ten boxers from various industry backgrounds slug it out over five fights of three rounds each, watched by family, friends and colleagues.All of the boxers were complete or partial novices and were tutored by Shamplina in recent months at his boxing gym (right).Shamplina, who two years ago sold his business Landlord Action to the insurance group Hamilton Fraser, also sourced all the sporting memorabilia raffled off during a live auction at the gathering.“It was never my intention to launch an annual event, but every year it gets better, we raise more money and the quality of the boxing from the novices improves,” says Shamplina.“This year, I really wanted everyone to be able to see the tangible results of the money donated and how make a different to those it goes to.“Make-A-Wish UK is such a special charity and I hope by next year’s event we will be able to show everyone pictures of those eight magical wishes and what it means to the children who receive them.”In 2018 the event raised £16,000 for a London cancer charity and Rumble with the Agents has now raised nearly £100,000 distributed among five good causes.2019-05-31Nigel LewisAny comments? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles Letting agent fined £11,500 over unlicenced rent-to-rent HMO3rd May 2021 BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021last_img read more

20
Apr
2021

Press release: ‘Smart homes’ to help older and disabled people get digital skills and tackle loneliness in rural areas

first_imgCaroline Hamblett, Chief Executive of Weldmar Hospicecare Trust, said: John Fisher, chief executive, Citizens Online said: We are committed to improving the digital skills of people of all ages and abilities so everyone can enjoy the benefits of modern technology. These innovative projects will not only help some of the hardest to reach people live healthier and happier lives but also boost our mission to make the UK the best place in the world to start and grow a digital businesses. Organisations across Essex are backing the Digital Boomers which will see older people redesign their relationship using technology to become even more tech confident and retain their independence for longer. Thanks to the Digital Inclusion Fund, our exciting Living Smart Homes and Digital Buddies pilots will help us rethink how older people use digital to support their health, wellbeing and independence. We were impressed with the standard of entries to the Digital Inclusion Fund. Digital inclusion is essential to help people improve their lives in this digital age and this fund, targeting those most in need is a welcome enabler. The successful projects will produce valuable learning for all those working in this sector and help to improve the digital skills of older and disabled people. Alex Rawle, Down’s Syndrome Active project manager, said: We are delighted to have been awarded Digital Inclusion funding, which will enable us to continue the development of telehealth technologies for patients and their families/carers receiving palliative and end of life care. With this funding we aim to test the possibility to extend the reach of this project through software development, possibly in the form of an app which will allow patients to record their symptoms and communicate with their clinicians from the comfort of their own home.center_img Cash will also fund app for people with Down’s Syndrome to improve health and wellbeing New money for projects to help those receiving palliative care and their families and carers A number of ‘smart homes’ with digitally savvy older people demonstrating tech in their own homes are being created as part of an innovative scheme to boost the nation’s digital skills.The homes, to be created in rural West Essex by a partnership led by Uttlesford Council for Voluntary Service, will see home owners become trained ‘digital boomers’ to help others improve their digital skills. They will receive a digital assessment, before having their homes ‘kitted out’ in tech.The experts will then open their homes for older people to visit so they can learn first hand from their peers how to make the most of smart technology to control household appliances, book GP appointments online, contact friends and family by video, and shop online. Younger, ‘digital buddies’ will also be on hand to support with digital skills.The scheme is one of three to be given a share of £400,000 by the Department for Digital, Culture, Media and Sport (DCMS) to improve older and disabled people’s lives through the Digital Inclusion Innovation Fund.The fund will also see an app created by the Down’s Syndrome Association to allow people with Down’s Syndrome to monitor their weight and exercise levels from their smartphones to promote good health and wellbeing.More than 70 per cent of people with Down’s Syndrome are classed as overweight or obese. The app will be the first of its kind specifically designed for those with Down’s Syndrome. It will also aim to connect people with a wider community of users which can help combat loneliness.The Weldmar Hospicecare Trust will also explore, for the first time, how the lives of end-of-life and palliative patients can be improved through new technology and skills.The project aims to research and develop technology to allow users to report on their health on a daily basis; provide consultations in a timely, convenient and cost effective way via video to help patients with regular appointments; and support carers and families who are often also at risk of isolation and detrimental health and wellbeing impacts, while improving their digital skills.Minister for Digital, Margot James, said: The Down’s Syndrome Association are delighted to have been chosen to receive a grant from the Digital Inclusion Fund. This will enable us to create and distribute a “Health Swap” app, made specifically with the needs of people with Down’s Syndrome in mind. The app will encourage its users to live healthier and more active lives and will be a gateway to a world of further digital information and tools. The Down’s Syndrome Association is a national charity which aims to help people with Down’s syndrome live full and rewarding lives. Clive Emmett, chief executive of Uttlesford Council for Voluntary Service, said: Research from Lloyd’s Consumer Digital Index 2018 has revealed that older and disabled people with have been highlighted as being the slowest to adopt basic digital skills and also have the lowest internet usage (ONS).These initiatives will complement Government’s existing work to boost digital skills provision across the country. This includes:The Digital Skills Partnership has seen Government, businesses, charities and voluntary organisations joining forces to deliver more than 2.5 million free training opportunities in areas such as basic online skills, cybersecurity and coding.Three Local Digital Skills Partnership pilots in Lancashire, the South West and West Midlands bringing together businesses, charities, the education sector and public sector organisations to tackle local digital skills challenges to build thriving and inclusive local economies.ENDSNotes to editorsContact the DCMS Press Office on 0207 211 2210.The Digital Inclusion Fund is being managed by Citizens Online and application for bids were open between September and October 2018.Citizens Online has worked in more than 50 communities across the UK since 2000. It helps organisations make sure the switch to online doesn’t exclude people and are passionate about digital inclusion. Its approach is based on detailed evidence and strong local partnerships. Further information on the fund can be found here.The government is also helping people interact with government online and ensure we deliver the best possible public services, as part of the SmarterGov campaign which has been launched to drive innovation, savings and public service improvement across government and wider public sector.last_img read more

18
Dec
2020

Successful CRM implementation starts with strong leadership

first_imgAs customer interactions become fragmented across more channels than ever before, a CRM system may be your best tool to help provide seamless, insightful customer experience. To get that all-important single view of the customers, you’ll need a CRM system that serves as a hub for data coming in from all channels, so you can capture all the bits and pieces of information that make up a modern banking relationship, and use them to engage customers, convert more leads, and create life-long loyalty.Is your current CRM solution up to the task? If not, it may be time to plan for the successful future and build for the growth you seek.Here are some of the steps you need to take to make sure the process goes smoothly. Remember, enterprise-wide CRM adoption is a cultural shift, so steps involving people are just as important as steps involving tech implementation.1. Choose the right solution. The CRM marketplace is full of vendors offering “vanilla CRM” solutions, which claim to work for any industry and for any need of the staff. But these often don’t meet the complex needs of credit unions, who contend with complex legacy back office systems, geographically dispersed locations, and the need to keep business processes in compliance with rigorous legislation across all channels.If you pick a purpose-built solution for financial services from a partner with industry experience, you’ll have access to features and functions designed to meet these unique needs. Plus, you can rely on your vendor to share best practices and real-world experience to make the implementation a success.2. Select the right champions to lead change. Executive champions bring leadership and vision to your CRM project. But because CRM touches many departments and groups across your credit union, you’ll also need CRM supporters in every branch and location, at every level. And you’ll need to make sure that all champions have a singular vision of how the CRM implementation will benefit your organization.3. Build and maintain a roadmap. Bring your stakeholders together to create a roadmap for your CRM project. Start by evaluating the gaps between the creditunion’s current state and its desired future state. Then consider how CRM capabilities can help you bridge the gaps. Identify key building blocks, from data migration to process documentation, and assign responsibilities for each. 4. Create a comprehensive messaging plan. You’ll need to communicate how the new CRM solution can help everybody do their jobs better without reorganizing their workflow, and listen to what everybody wants out of it. Be prepared for resistance – old habit die hard, and change makes people nervous, so you’ll need to be proactive about reassuring staff members that the CRM solution will help them meet their KPIs and make their daily lives easier. Make sure you have a mechanism in place for employees to share feedback with your CRM team throughout the planning, implementation, and rollout of the solution.5. Plan to make training an evergreen activity. Peer-to-peer, role based training is essential if you want your staff to adopt CRM and use it correctly. You also need to recognize that ingraining new habits takes time, allocate resources to offer intensive training up front, then reinforce it later, and make inspection and coaching a perennial task as well. And don’t be afraid to incentivize CRM adoption, or use gamification and scoreboards to encourage CRM uptake at individual branches or locations.6. Run through your CRM readiness checklist. At this stage in the game, your credit union is ready to go, with a roster of CRM champions in place, training, and communications plans ready to go, and key building blocks and KPIs mapped out. A final systems check can help you identify any last issues before you begin implementation. Your readiness checklist should include questions like these:Does everyone have a clear and common understanding of the CRM project?Do they understand their specific roles during roll-out?Is the feedback process clear for everyone? Are cross-functional teams poised to troubleshoot?Are all data sources identified? Is there a plan for their integration?Plan for SuccessAs the saying goes, “failing to plan is planning to fail”. When a CRM project fails, it is often because the organization hasn’t’ done the groundwork to ensure adoption of the system. If you don’t create and monitor CRM KPIs, you may not even notice when adoption rate and usage drop and the project stagnates. Conversely, if you take the time to select the right vendor, make a comprehensive implementation plan, build buy-in and rally the organization, you are well on the way to experiencing the enterprise-wide benefits of CRM. Why is this process so worthwhile? Well, because significant organization-wide benefits of CRM include (but aren’t limited to), a better understanding of members, stronger member relationships, increased loyalty, and the opportunity to leverage member data to market more effectively.Want more strategies to ensure CRM implementation success? We’ve drawn on over a decade of experience helping credit unions plan CRM projects to offer you some straightforward advice on important steps to follow. Read our eBook to learn more. 34SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Olga Zakharenkava Olga Zakharenkava is the VP, Demand Marketing at Doxim, a leading provider of cloud-based customer engagement solutions for credit unions and wealth management firms. Find out more at www.doxim.com Web: www.doxim.com Detailslast_img read more

17
Dec
2020

Data warehousing is the least valuable thing for your data

first_imgA data warehouse is a terrible place for your data. It goes against everything we have heard for the last two decades, but it is true that warehousing is the least valuable thing you can do with your data. Information Theory proves this contrarian view and, along with Lean practices, suggests a better way to leverage your institution’s data. That said, it is important to note just how important data is to the future of your credit union. Data can make the difference between your credit union thriving and better understanding your members and being one of the financial institutions that close their door or are merged every single day. So, let us dig in on what Information Theory and Lean practices tells us, and more importantly how you can do better than warehousing when it comes to your data assets.View your data warehouse as an actual warehouse. It is helpful to understand why it is the least valuable thing you can do. In this virtual warehouse sits hundreds of thousands of square feet of stuff in boxes. Stuff just sitting there, doing nothing. Anyone trained in Lean knows that this is a recipe for disaster. Lean tells us that we only produce as much as we can reasonably expect to use in a short duration. Holding as little in inventory as possible reduces costs, defects, and waste. Defects is an important aspect that we will revisit later. So why would we treat data any differently than any other inventory?Some might argue that a data warehouse is different than a cavernous physical warehouse filled with boxes. But is it really? Lean tells us that everything should be contributing directly to the value chain. So, what is value of the terabytes of data that is either wholly or mostly going unused? The answer at many credit unions: nothing. That is of course, unless your credit union is currently using that data to tangibly improve the member experience, reduce costs, prevent fraud, or improve the financial lives of your membership. However, most data warehouses are not doing this, they are simply storing that data – metaphorical boxes sitting in a warehouse generating cost, introducing risk, and creating little to no value.The data warehouse metaphor gets even more interesting when viewed through the lens of Information Theory. Firstly, we will step back and briefly talk about Information Theory. Imagine you are in a completely dark room you have never been in before. You want to leave the room, but you do not know how close you are to the door or even what might be in the room. Information Theory says the information that is valuable is only what tells you how to leave the room. Getting an updated baseball score while in the room is not valuable because it does not help you leave the dark room.Thinking back to the data warehouse, where all that member data is stored in metaphorical boxes, but not being used violates Information Theory. Data collecting digital dust in a warehouse violates the theory because it is not being used to inform decision makers in the credit union. It is not informing how to leave the dark room or in our case, improving the credit union’s situation. For data to be information, it must add to knowledge. Data at rest does not do that, it is just a cost.It is interesting how Information Theory and Lean both agree here. Product, or in our case data, not directly in the member value stream is waste. For most financial institutions data is being somewhat used, at a clip of 5 to 10 percent, which means that 90-95 percent of the data warehouse is producing little to no value. When a credit union is spending hundreds of thousands of dollars a month on servers, salaries, and bandwidth, this becomes very expensive waste.Taking a moment to get perspective about how data can produce value at your credit union is the first step. Using the analogy of the dark room with your membership is helpful. What does the senior leadership team need to know to make strategic decisions in the interest of the membership and the future of the credit union? What does the digital banking team need to know to make product and offering decisions to improve the member experience? What does the branch team need to know to improve the branch experience or increase product adoption? Asking these and other questions are critical to begin to formulate what data is valuable and what is not.Once these questions are answered, the input data has been inventoried, and the systems identified that deliver and create the information, a credit union is ready to approach data. Not as a warehouse full of metaphorical boxes, rather as a value-producing asset – this is what data should be. Data that contributes to answering these questions gets used and is no longer wasteful. Further, because the data is being used, quality issues with data get quickly noticed and the trust in the internal teams goes up. Once everyone is pulling from a single source of truth the internal data culture also begins to grow as does your data’s value. Data increases the efficiency, accuracy, and precision of a team’s decision-making process as a whole – both on the larger, strategic scale and in solving day-to-day operational problems.Once an institution has focused its effort on only investing in the data that is usable, both in terms of content and age, the institution can focus on getting out of the dark room. Once the volume of data is manageable, instead of storing the data in sealed boxes in a warehouse, a credit union can spread the data out onto an active workbench. A workbench that can be used to craft insight, prove hypotheses, and generate tangible results from an otherwise intangible asset. Data work-benching, instead of warehousing, also implies a level of transparency, accessibility, and supports people frequently revisiting the workbench with new questions and ideas. This level of data interaction is not obtainable with a data warehouse.Having a data warehouse is not a bad thing, but a credit union needs to get value out of it. Credit unions that view their data warehouse as an asset to help them navigate the analogous dark room are getting value out of it and likely improving the lives of their members. However, if there is no clear vision or understanding of how it contributes to servicing the membership, it is most likely nonvalue-added cost. Information Theory helps leadership determine what in their data warehouse helps them make better decisions and what is only incurring cost. Put your data to work in service of your members, they will thank you for it. Co-authored by T. Buck Strasser 1SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Ray K. Ragan Ray K. Ragan, MAd (PM), PMP is the co-founder of Clear Core and helps Credit Unions use data strategically. Prior to Clear Core, Ray worked in defense and financial technology, … Detailslast_img read more