If you talk to higher education administrators, then you know data analytics are on their radar. Whether they are actively using data to drive decisions and improve the education experience, or rather, they simply know they need to be leveraging data, predictive analytics is growing in importance. In fact, it has even been reported as a top trend to watch this year – one that is “poised for major growth.”
However, according to a new survey published by KPMG, while the perception is that data might be everywhere, not enough institutions say they have good data, nor are they using it. The Higher Education Industry Outlook Survey assessed its own data from more than 100 higher education leaders only to find that a mere 22% say they have good data. What’s more, they don’t actually use it.
The survey also concluded the following:
- 29% of respondents say they have both good data and the resources to analyze it.
- 36% of institutions say they outsource analytics.
- 41% of respondents say they use predictive analytics.
- 29% report using data to inform strategic decisions.
In order for data to qualify as “good” and in order for it to be meaningful to an institution’s operations and the programs or experiences it delivers, colleges and universities need to take a hard look at their many silos on campus that pull data. Herein lies an all too common problem – the data is stuck in silos, which makes it very difficult to analyze and determine its relevance across the student lifecycle, from marketing and enrollment, to retention and graduation.
We hear the frustrations from our partners first-hand who struggle to uncover their institutional data and make it actionable. It’s why we created a closed-loop technology ecosystem that aggregates data across the student lifecycle, helping institutions understand their best-fit students’ journey, and implement actionable intelligence to improve outcomes for all prospective and active students. And it’s yielding impressive results, growing enrollments 8x faster than the industry average.
Just imagine, what if you could learn so much more about your students than what they’ve told you?