Business Analytics and Data Warehousing in Higher Education

Transcription

1 WHITE PAPER Business Analytics and Data Warehousing in Higher Education by Jim Gallo

2 Table of Contents Introduction...3 Business Analytics and Data Warehousing...4 The Role of the Data Warehouse...4 Big Data in Higher Education...5 Best Practices for Defining Key Performance Indicators...5 KPIs and Metrics for Higher Education ICC White Paper

3 Introduction The path forward for colleges and universities interested in successfully implementing a world class business analytics solution is based on satisfying the needs of all constituencies Administration and Finance, Workforce and Development, and Academic and Student Affairs, to name a few. These needs must be encapsulated in a holistic approach that first considers vision and strategy, secondly, the appropriate architectural foundation, and then, and only then, tools and technology. By first articulating the vision and identifying the business needs, colleges and universities are in a position to compare and contrast the available options; which might include building upon an existing data warehouse, starting from scratch and/or utilizing new or existing tools. ICC s philosophy of strategy before structure means that the solution is governed by a purposeful roadmap. s s s Vision Goals Strategy Architecture Tools Requirements Sample Vision Statement: We will become a better organization by fostering student success through improved graduation rates, career preparation and by becoming a valued resource of labor. We will seek to improve in all areas so that our students are seen as performing better than students from other colleges and universities. We will strive to keep tuition low in order to allow as many students as possible to receive a quality education without cost becoming an impediment. Exhibit 1: Roadmap By taking this approach, colleges and universities can be assured that its choices will support everyone s needs, accommodate content from all operational systems, and will remain adaptive and flexible enough to meet future requirements that may not exist today. The desire for more information needed to improve academic analytics may be driven by: Assessment Accreditation State and federal regulations Increased competition How colleges and universities utilize their resources is critical to accountability alumni want to know that the institution is making strategically sound decisions that are in everyone s best interest. A vision statement is often used to promote dialogue around the analytics agenda or around the university as a whole. Using the vision statement as a guide, KPIs might be built around the following goal statements: Enhance teaching, learning and research Engage with the professions and professional life Build partnerships and pathways with business and government Improve outcomes for students and staff Strengthen the enterprise and the resource base Costs 3 ICC White Paper

4 Some of the major benefits a digital dashboard can provide include: Enabling administrators and campus executives to better support the education process by accurately compiling, analyzing and reporting information across systems to internal and external decisionmakers Empower faculty with the information they need to create the best learning environment for all students Provide the right information at the right time to the right audience Maximize the availability of information to all levels of the organization: Executive levels receive performance data Management levels receive trend and summary data Staff levels receive detailed data Facilitate seamless processes to support the full life cycle of student administration Enable campus executives and administrators to track and monitor campus KPIs in order to establish, improve and align them with the mission Promote and improve the institution s reputation through better marketing using the most current and accurate data available From the vision and goals, specific KPIs can be built (delivered through scorecards) that provide insights that are critical to the success of the institution. Examples of higher education core indicators might include: Student Success Transfer Preparation Workforce Development Research Finance Donor Contributions Student Satisfaction Rate KPIs/scorecards/dashboards driven from business requirements will allow the organization to: Set performance goals and track performance indicators Easily spot trends Establish measurements and criteria for monitoring progress Design and print charts and reports Evaluate and understand the health of the institution Identify operational efficiencies Track regulatory requirements Business Analytics and Data Warehousing Like other industries, colleges and universities are adopting digital dashboards and a Business Analytics (BA) system to gain an understanding of the strategic impacts of decisions and assumptions made in order to drive institutional excellence. When coupled with tactical information of day-to-day operations related to recruiting, enrollment, confidential student information, finance, alumni, etc., campus executives can be more nimble in their decision-making. Analytics are essential to portraying critical performance information to those who need it, when it s needed and in a form that is easy to understand. The Role of the Data Warehouse The data warehouse and the analytics platform go hand-in-hand with the design requirements of a digital dashboard for Higher Education. The data warehouse provides a platform to store campus-wide information from multiple operational and external systems. In order to store vast amounts of historical data electronically and to facilitate reporting and analysis work, institutions can develop the proper data warehousing architecture which may very well involve building upon the one that already exists. Analytics applications rely on data warehouses as they function as repositories of data designed to support an organization s decision-making process. The information populated on digital dashboards is built from data warehouses. Your data warehouse can assume a strategic role by addressing these challenges: 1. Storing enterprise-wide information, independent of source system 2. Delivering near real-time data without impacting operational systems 3. Providing transparent access to systems that contain business-critical data 4. Organizing data for analysis and reporting rather than for transactional processing Data warehouses are optimized for speed of data retrieval, so even for the largest databases, retrieval speed is not a major concern. Multi-dimensional modeling and denormalized data are key factors that contribute to the fast and efficient performance of a data warehouse that directly expedites the data population on a digital dashboard. 4 ICC White Paper

5 Big Data in Higher Education Big data is the fine-grained information about student experiences, organizational processes, and emergent trends generated as students and faculty conduct normal activities. The organization of this data serves as a rich source of business analysis to improve performance, understand your brand reputation, and point to new opportunities. The era of big data has arrived in higher education as IT becomes increasingly embedded in the processes that comprise going to college, such as course enrollment, classroom instruction, and student services. Of equal value, data about student journeys, successes, and failures can be captured to improve both individual and collective outcomes across all of higher education when provided back to students in useful ways. In the age of Twitter and Facebook how the university is being represented by students and alumni can be a determinant in the choices a prospective student makes and whether alumni will continue to provide financial support. Embedding big data in analytical solutions is quickly becoming a business imperative for colleges and universities. Best Practices for Defining Key Performance Indicators KPIs represent the vital signs of the institution s performance against a predefined benchmark. They form a balanced scorecard that give a strong indication of the institution s health and progress. KPIs are always associated with a list of measures that scale the school s performance. They are defined in a top-down manner and the lowest levels roll up seamlessly to the top-level KPIs. Thus, KPIs are directly derived from key focus areas that align with the institution s vision and mission, and they aid it in achieving its goals. Accordingly, development of a set of Key Performance Indicators should follow these guidelines: Do not confuse the number of indicators with their usefulness in decision-making. A greater number of indicators does not necessarily result in more or better information. Address issues of validity and reliability when creating indicators. Do they actually measure what you intend them to? Should you compare the results to those of other institutions and systems? If so, can you qualify your comparisons by identifying institutions and systems that are comparable in vision, mission and experience with assessment? Be sure to clarify how the indicators will be used. Recognize the different purposes inherent in public accountability and institutional improvement agendas. Develop performance indicators that represent all aspects of the institution. Use a variety of methods, both qualitative and quantitative, to capture, analyze and report your findings. Link performance indicators to institutional processes to improve performance and inform decision-making. Communicate clearly with all relevant constituencies internal and external concerning the goals, development, and reporting of data related to performance indicators. Ensure that all stakeholders are included in and participate in the development process 5 ICC White Paper

6 KPIs and Metrics for Higher Education KPIs and metrics can be broken into common themes or subjects. The following KPIs are commonly used in colleges and universities. Admissions and Enrollment Admissions over time, by gender, by ethnicity, etc. International admissions Prospective students Applications for enrollment submitted Applications reviewed Applications accepted Applicant deposits Projected admissions Annual admittance scores (GPA, SAT, ACT) Admissions by college or major Auxiliary Services Total Daily Sales Sales by Service or Item Total Customers Short Value Coupons Applied Class Registration Registration by Subject Registration by Gender Registration by Age Registration by Ethnicity Registration by Title Class/Classroom Fill Rates Gender distribution within courses Age distribution within courses Ethnicity distribution within courses Course Outcomes Class Average Grades Course Dropout Rate Tutors Utilized Passing Grades Dean s List Graduate Placement Workforce Degree Granted and Production Rate Workforce Degree Production Placement Rate In Field Placement Rates FTE and Headcounts License and Certification Pass Rates Market Penetration Financials Program Funding Marketing for Donations Scholarship Funds Revenue Breakdown Source of Donations Graduation Rates First-Time, Full-Time Graduation First-Time, Full-Time Graduation Percentages First-Time, Full-Time Persistence Rates First-Time, Part-Time Graduation First-Time, Part-Time Graduation Percentages First-Time, Part-Time Persistence Rates Transfer Degrees Granted Transfer Degree Production Persistence Rates Human Resources Tenure (longevity) Turnover Earnings Benefits Evaluation Scores Attendance Faculty to Student Ratios Administration to Student Ratios Costs (faculty and administration) vs. Student Population Costs vs. Total Budget Measures (faculty-specific) apply same metrics for Course Outcomes for each faculty member/faculty group as well as student and faculty evaluation scores. If you re seeking a partner who can assist with turning your vision into a reality, then ICC stands ready to support you. With nearly 100 satisfied clients and 140+ professionals, ICC s Business Analytics group is second to none. ICC brings the processes, tested methodologies and experience to enable you to implement impactful analytics solutions. We are more than willing to transfer this knowledge to you so that you can create an organic and sustainable capability. It is ICC s sincerest hope that the white paper will help foster communication and dialogue among all stakeholders and will help you to determine the appropriate path forward. We wish you well! For more information: Theresa Hodgson Marketing Director [email protected] (614) x106 Jim Gallo National Director, Business Analytics [email protected] (614) x192 6 ICC White Paper

7 About Information Control Corporation ICC is a leader in enterprise technology services. We take a responsible, long term approach to our relationships and resources, investing in our talent so they remain the best in the industry. We collaborate with our clients to identify opportunities to improve operational efficiency and increase customer value while mitigating risk. Then, we envision innovative business-critical solutions using ingenuity, acumen and emerging technologies. With our proven approaches that utilize rigorous design, delivery and management methods, we deliver high-quality solutions that enable our clients to effectively manage their business and sustain competitive advantage. We serve our clients, our community and our country by keeping jobs in the United States and by employing and training leaders who work hard to strengthen our American economy. ICC is one of the largest privately held IT services providers in the Midwest. Our largescale project work addresses business issues in Information Technology for government agencies and national companies such as Nationwide, Abercrombie & Fitch and Cardinal Health. For more information about ICC services, contact us at , or visit us at ICC, 2500 Corporate Exchange, Suite 300, Columbus, OH With over 500 consultants and supporting staff, ICC makes use of teaming opportunities to blend experienced consultants in each competency with new talent. Combining blended rates, automated development procedures and industry recognized development methodologies, and our personal attention to clients, results in ICC placing as one of the most respected and cost-effective services practices in the Information Technology space. Copyright Information Control Corporation TL /23/13