Data Mining to Identify New Markets (1,176 words)
The Price of Results
None of this technology comes cheap, of course. Thompson admits it all would have been out of reach for a smaller financial institution like DTCU without exceptional circumstances: The organization had agreed to be the test site for the IBM pilot program.
Was it worth being the guinea pigs? Thompson says certainly it was, though there are always drawbacks to being first. "IBM gets to template from this and use it for future roll outs. So other companies will benefit from all the time and effort we put into learning the systems," he points out. "We benefited because our financial commitment was not as great as you might expect. We could not have afforded it. And IBM provided a lot of support." Thompson jokes, "We're on the larger side for a credit union, but we're no Bank of America. Where they might have 600 programmers they could pull from, I have a total staff of 15 with two programmers. Here we all have our normal day-to-day jobs of running the financial institution in addition to working out the kinks in this new system."