Aligning Programs for Effective Transitions Andy Hannah, CEO

Transcription

1 PACT Conference Aligning Our Future: Opportunities and Challenges Aligning Programs for Effective Transitions Andy Hannah, CEO March 31,

2 Othot s Mission: Significantly reduces the complexity and cost of predictive analytics. I love predictive analytics. I mean, who wouldn't want to develop an application that could help you make smart business decisions, sell more stuff, make customers happy, and avert disasters. Predictive analytics can do all that, but it is not easy. In fact, it can range from being impossible to hard Forrester 2

3 Advanced Analytics Objective Use data (big and small) and data science to fuel strategy and guide decision making Emotional Convert Prospects to Customers Retain Them Have Satisfied Customers Spiritual Financial Physical 3

4 Advanced Analytics Objective: Higher Ed Use data (big and small) and data science to fuel strategy and guide decision making Happiness Emotional Fulfillment High School Students to Freshman Retention Satisfied Graduates Spiritual Manageable Debt Financial Attract Retain Success Job/Grad School Physical 4

5 Putting Data to the Metrics Value Prop creates initial buy Selectivity - % of acceptances National Ave. 64% PASSHE 77% Happy customers buy again Freshmen Retention Rates National Ave. 80% PASSHE 76% Satisfied customers realize the value prop Average Debt National Ave. $29K PASSHE $30K Yield National Ave. 34% PASSHE 34% Six Year Graduation Rates National Ave. 59% PASSHE 57% Pressure Default Rate National Ave. 8.9% PASSHE 7% 5

6 Continued Public Awareness New York University Student Study: How Do College Students Respond to Public Information About Earnings? o Are some college degrees worth the cost? o Students knowledge of real world data was limited o $35K overestimation on pay for an economics degree at age 30 Revised Belief's: Downward revision by $28K Changed Behavior: 12% Changed their major! March 28,

7 Start with Strategy: Align Customers to Outcome Goal: Create Satisfied Graduates Manageable Debt Align students with programs STEM Analytics Energy Alignment Job/Grad School Medical/ Health Legal/ Manage ment 7

8 Analytics to Predict Success High School Students to Freshman Retention Satisfied Graduates What are the [100] attributes of high schoolers that correlate to success and who FIT at the university? What are the [100] attributes that predict success? Best Fit students Education and OCC Requirements Reverse Engineer Success 8

9 Predictive and Prescriptive Analytics Data Data Science Engines Predictive/ Prescriptive Analytics Internal data Publically available data Hard to find, social media, and proprietary data Classification, clustering and regression engines Causal engines Data pre-processing, glue, and engine dynamics Delivers overall Likelihood to occur scores in actionable format Delivers overall What-if analyses to guide decision making Original Likelihood Score What-If Score What is the likelihood that at high school student will enroll? 55 What can you Change? 74 9

10 Predictive Analytics can Optimize Marketing Digital Marketing Only Concentrated marketing Don t drop the ball 10

11 Impact of Feature Engineering Hypothesis: GRANULARITY MATTERS spring, summer, fall, weekday, weekend diversity, endowment, institutional grant, merit Outcome: 25% Improvement in key metric for accuracy These are features can be managed by the university i.e., prescriptive 11

12 Understanding the End of Student Lifecycle Understanding what successful alumni looked like at each stage in the student life cycles allows us to better understand where to focus High School students to Freshmen Prospects Applicants Enrolled Retention Satisfied Graduates 12

13 Data Before Analytics Major/Minor/Certificates Classes Taken Grades/GPA Outside the Classroom Internships/Projects UNIVERSITY CAREER Athletics Engagement Extra Curricular Organizations Leadership Roles Mentors/Counseling HIGH SCHOOL GPA Class Rank Class Size SAT Scores Honors Classes Hometown Extracurricular Activities Interest and Visit Behavior Legacy POST GRADUATION Further Education Professional Degrees Occupation, Title Salary Location(s) Family Philanthropic Activity University Engagement Athletics 13

14 Alignment = Best Fit Students Align recruitment, student engagement, and post graduation engagement strategies to match a definition of success High School students to freshmen Prospects Applicants Enrolled Retention Satisfied Graduates Attract best applicants Prioritize prospects based on fit and likelihood for success Accept most likely to be successful alum Allocate resources to convert best fit students Identify who is engaged, and who is at risk Intervene to retain and ensure they are on the path to success 14

15 PACT Conference Aligning Our Future: Opportunities and Challenges Aligning Programs for Effective Transitions Andy Hannah, CEO March 31,