Colleges and universities are under intense pressure to meet enrollment goals, improve retention rates, and shorten time to completion. Predictive analytics can play a crucial role in these efforts by providing insights that guide strategic decision making, improve enrollment management and promote student success.
Colleges and universities are facing a wide variety of business and finance challenges, but many are finding creative solutions. To explore these issues, University Business and Oracle partnered to develop and deploy a recent survey of higher ed business and finance leaders about some of the challenges they face, including rising costs, lack of access to strategic data and changing student expectations.
Institutional research is crucial to providing college and university leadership with the data required to make the most informed strategic decisions, across a broad range of areas including admissions, academics, finance, enrollment, retention, staffing, facilities and more. In order for this research to be effective, however, it is also important to have a strategy and process to translate the data gathered into actionable information.
While faced with state and federal regulations, an increasingly competitive recruitment environment and intense pressure to contain costs, many colleges and universities have been unable to modernize critical business processes, which could help address key challenges in admissions, finance, and fundraising. Siloed data, manual processes and inefficient workflows can be costly, create security vulnerabilities and prevent institution leaders from understanding the true costs of doing business.
Since most partners promise “great customer service” to the colleges and universities they serve, the term has become something of a cliché. Why does level of service still need to be a top priority for institution leaders when selecting a provider?