Developing a Data-Driven IT Project Prioritization



A financial institution created a new data warehouse to support all business lines, including consumer, commercial lending, residential lending, finance, marketing, and others. The new data source was being underutilized in helping the organization make more data-driven decisions. Only a few groups were making data-related project requests and there was a lack of criteria for prioritizing the projects they did receive. The process of requesting new IT projects related to the data warehouse was very time consuming (involving filling out 20+ pages of content and taking three weeks).




Unify developed a more efficient and effective IT project request process that was used company-wide. Unify developed quantitative/financial and qualitative criteria to prioritize which projects would create the greatest impact for the organization with the least level of effort. Short and long request forms were used as an intake process for a scoring model, and a prioritization process was created to facilitate tasks of the project.


Key Outcomes


The bank was able to prioritize the most impactful projects based on their projected return on investment. This resulted in higher revenues, lower costs, and improved customer satisfaction. The project selection process was also more efficient. Instead of taking three weeks to define a request, timing was reduced to a day and a half. The process to get projects approved was much faster and allowed for a more efficient use of resources.