Beyond the Rate: Unpacking Mortgage Data - Brennan O’Connell - Making Better Decisions - Episode #53

Today we niche down to discuss mortgage data and analytics. Brennan O’Connell, Director of Data Solutions at Optimal Blue joins to dive into how leveraging data can significantly enhance decision-making within the mortgage industry. The conversation touches on the importance of connecting disparate data sets, understanding market pricing relative to internal data, and effectively building a data-driven decision structure. They explore how actionable insights for mortgage originators can be derived from analyzing both internal and external datasets. The episode also highlights Optimal Blue’s Market Advantage Report and Podcast as key resources for industry insights.

Key Takeaways:

• Understand Your Decision-Making Goals: Start with the decision in mind before delving into data collection and reporting. This ensures that all data analysis efforts are aligned with the key decisions that need to be made.
• Integrate Disparate Data Sets: Work towards integrating all relevant data sources into a single coherent view. This will help in making more informed and accurate decisions without the need to switch between multiple platforms or data sets.
• Focus on KPIs: Define clear key performance indicators (KPIs) to determine what success looks like for your organization.
• Communicate Reporting Effectively: Ensure that the reports generated are read and understood by the decision-makers. Simplify complex data into easy-to-understand and actionable reports.
• Human-Readable Reporting: Transform raw data into charts, graphs, and reports that are easy to read and interpret. This makes it easier for non-technical stakeholders to engage with the data.

Quote of the Show:

• “ Data is an observation of reality. It gives you better visualization into what the world is around you.” - Brennan O’Connell

Links:

• LinkedIn: https://www.linkedin.com/in/brennan-oconnell/ 
• Website: https://www2.optimalblue.com/ 
• Optimal Blue Podcast: https://podcasts.apple.com/us/podcast/market-advantage-mortgage-trends-and-expert-insights/id1770120858 

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