At Eduventures, we’re passionate about helping colleges make better decisions. That’s why we’re excited about predictive analytics. Consider this scenario:
- A private non-profit institution misses its fall start by 10 students.
- At average student tuition of $28,500 per year, 10 students reflect a $285,000 deficit in that year.
- Extrapolated over the six years it takes many students to graduate, this seemingly minor miss of 10 students equates to $1,710,000 in lost revenue.
The implications don’t stop at enrollment management and recruiting. For example, fewer students may obviate the need for planned adjunct faculty hires. Similarly, residential life will have fewer “heads in beds” and, facing a significant loss of revenue, would need to increase efforts to encourage upperclassmen to consider another year in the dorms. If this institution had made the initial investment to build a predictive analytics function, it could have made early adjustments to avoid the recruiting shortfall.
Learn More about Predictive Analytics
Though predictive analytics are by no means a “silver bullet” to solving all of higher education’s problems, we believe that it is an important tool that can positively impact efficiency and effectiveness across the university. To better understand it, we’ve conducted interviews with practitioners from a variety of institutions about their experience with predictive analytics.
Learn what they had to say by downloading our white paper Predictive Analytics in Higher Education: Data-Driven Decision Making for the Student Life Cycle »