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2023 SBFF Breakout Session Slide Deck - Unlocking the Power of Data - Clearinghouse CDFI
- 2. Lead Sponsor Unlocking the Power of Data June 21, 2023
- 3. Lead Sponsor Speakers Mai Ha Director of Impact Benjamin Allen Data Analyst & Systems Lead
- 4. Lead Sponsor What is Tableau Tableau is a powerful and intuitive data visualization tool that enables organizations to explore, analyze, and present data in a meaningful and interactive way. It provides users with the ability to create dynamic visualizations, dashboards, and reports, making complex data easier to understand and share with others.
- 5. Lead Sponsor Key Features of Tableau 1. Drag-and-Drop Interface: Easily connect to data sources and build visualizations by dragging and dropping fields onto the canvas. 2. Interactive Dashboards: Create dynamic dashboards for real- time exploration and interaction with data. 3. Data Blending and Integration: Blend and integrate data from multiple sources for a unified view. 4. Advanced Analytics: Utilize statistical functions, forecasting, and clustering for deeper insights. 5. Sharing and Collaboration: Share visualizations, dashboards, and reports with ease using Tableau Server and Tableau Public.
- 6. Lead Sponsor Use Cases of Tableau for CDFIs 1. Portfolio Analysis: analyze loan portfolios, visualize loan performance metrics, and identify areas for improvement 2. Impact Measurement: track and measure the social and economic impact of investments 3. Compliance Reporting: streamlines the process of generating compliance reports for CDFI Fund 4. Grant Management: aids in managing grants by visualizing grant performance, tracking fund allocation, and demonstrating outcomes to grantors. 5. Investor/Board Reporting: transparent and comprehensive reporting to investors or Board of Directors or Advisory Boards 6. Marketing: visually represent marketing data, such as campaign performance, customer segmentation, and social media metrics
- 7. Lead Sponsor Example Dashboards/Reports 1. Board Reporting CDFI Certification Analysis Awards Performance Report Advisory Board Report on OTP Track Record 2. Grant Management CMF “What If Scenario” 3. Data Management and Analysis Data Cleaning for TLR Data Analysis for FA, CMF, ERP, NMTC applications
- 8. Lead Sponsor Benefits of Using Tableau 1. Enhanced Data Visualization: easier to understand and communicate insights 2. Improved Decision Making: Access real-time information for informed decision-making 3. Streamlined Reporting and Compliance: Automate reporting workflows, meet compliance requirements efficiently, and reduce manual efforts 4. Enhanced Impact Measurement: showcase the value brought to underserved communities. 5. Increased Stakeholder Engagement: Engage stakeholders effectively 6. Scalability and Flexibility: Scale with the organization's needs, handle large datasets, and adapt to changing reporting requirements.
- 9. Lead Sponsor How to Get Started 1. Evaluate Your Needs 2. Identify Staff/Human Resources 3. Start with Tableau Public 4. Focus on Key Data Sources 5. Start Simple with Limited Data Points 6. Utilize Tableau's Templates and Sample Workbooks 7. Collaborate and Share Internally 8. Attend Webinars and Online Training 9. Seek External Support if Needed
- 10. Lead Sponsor Questions? Mai Ha Director of Impact maih@ccdfi.com Benjamin Allen Data Analyst & Systems Lead benjamina@ccdfi.com
Editor's Notes
- Tableau offers valuable applications for Community Development Financial Institutions (CDFIs) in their mission to drive economic growth and provide financial services to underserved communities: Portfolio Analysis: CDFIs can use Tableau to analyze their loan portfolios, visualize loan performance metrics, and identify areas for improvement. This enables better risk management and strategic decision-making. Impact Measurement: Tableau helps CDFIs track and measure the social and economic impact of their investments. By visualizing data on job creation, housing development, and community revitalization, CDFIs can demonstrate their mission-driven outcomes to stakeholders. Compliance Reporting: Tableau streamlines the process of generating compliance reports for regulatory bodies. CDFIs can create interactive dashboards that consolidate data from various sources, making it easier to track and report on compliance requirements. Grant Management: Tableau aids in managing grants by visualizing grant performance, tracking fund allocation, and demonstrating outcomes to grantors. CDFIs can effectively communicate the impact of grant-funded initiatives using Tableau's visual storytelling capabilities. Investor Reporting: Tableau enables CDFIs to provide transparent and comprehensive reporting to investors. By visualizing financial performance and impact metrics, CDFIs can strengthen relationships with investors and attract future investment. Marketing: Tableau helps marketers visually represent marketing data, such as campaign performance, customer segmentation, and social media metrics, enabling better understanding and communication of marketing insights.
- Go to Tableau dashboards: https://sso.online.tableau.com/public/idp/SSO
- Tableau brings numerous benefits to Community Development Financial Institutions (CDFIs): Enhanced Data Visualization: Visualize complex data in a compelling and interactive way, making it easier to understand and communicate insights. Improved Decision Making: Access real-time information, analyze loan performance, and identify trends and opportunities for informed decision-making. (Use CMF What if Scenario as an example) Streamlined Reporting and Compliance: Automate reporting workflows, meet compliance requirements efficiently, and reduce manual efforts. (Use CDFI Cert and Award Performance as example – saving a week worth of time) Enhanced Impact Measurement: Measure and track social and economic impact, showcasing the value brought to underserved communities. Increased Stakeholder Engagement: Engage stakeholders effectively through interactive dashboards and visual storytelling. Scalability and Flexibility: Scale with the organization's needs, handle large datasets, and adapt to changing reporting requirements. (Use ERP as example of flexibility)
- Evaluate Your Needs: Identify your specific goals and objectives for using Tableau. Determine the key data analysis and visualization requirements that can benefit your organization. Identify Staff or Human Resources: Identify individuals within your organization who are best equipped to use Tableau. This may include staff members who manage data, systems, or interns with a technical background. Leverage their existing knowledge and skills to maximize Tableau's potential. (Use CCDFI as an example – Benji does technical side for Tableau, Melissa does technical side for nCino and Mai business needs/project management) Start with Tableau Public: Consider using Tableau Public, a free version of Tableau that allows you to create and share visualizations publicly. It can be a suitable starting point for small organizations with limited resources. Focus on Key Data Sources: Collaborate with your identified staff or human resources to identify the primary data sources that are critical for your organization's operations. Start by connecting to and visualizing data from these sources to gain meaningful insights. Start Simple: Collaborate with your identified staff or human resources to create simple visualizations with a limited number of data points. Focus on the most critical metrics and gradually expand as you gain more experience and confidence. Utilize Tableau's Templates and Sample Workbooks: Tableau provides pre-built templates and sample workbooks that can serve as starting points for your own visualizations. Encourage your staff or human resources to utilize these resources to save time and effort. Collaborate and Share Internally: Foster collaboration and knowledge sharing within your organization. Encourage your staff or human resources to share their visualizations internally with colleagues and stakeholders who can provide feedback and input. Attend Webinars and Online Training: Encourage your staff or human resources to attend Tableau's webinars and online training resources tailored for beginners. These resources can help them understand the basics of Tableau and its functionalities. Seek External Support if Needed: If your organization has the resources, consider partnering with external consultants or experts who can provide guidance and support in leveraging Tableau effectively.