Data must always be presented with a story in mind. Data without a story is nothing but a confusing bag of numbers. For example, if you were presented with a number, say, 25,338.84, would that figure have any meaning to you? Of course not, as it is without context. However, if one was to say that the figure represents the closing market value of the DOW Jones Industrial Average yesterday, then it's a number worth noting.
What specific metrics are important to follow in college reporting? Out of all metrics with which we have worked, there is one common thread that makes all other variables clearer: Cohort comparatives. One can look at data all day long and find very little meaning, but once cohort comparatives are inserted, the data will come alive.
As collaborative as those in Higher Education attempt to appear, when most of us get into meetings to discuss headcounts and trends, we usually feel isolated. In that sense, we are like an ant in a barrel. Imagine you can only see the inside of the barrel from an ant's point of view: an opening to the sky that hints at the existence of a wide world above it. But nothing about that world is clear.
"We need to make smarter decisions based on data."If you are working for a leader who is unknowingly breaking this rule, don’t revolt. Understand, plan, and help! Here are some other things that may be useful to you in that journey whether you hold a position of leadership or not.
If you work for a private institution, there are three basic numbers that your institution will look for in the next couple of weeks: New student enrollment, retention, and discount rate. Understanding these numbers will help provide a general understanding of where your institution is headed.
With the abundance of information that is collected and retained in our information systems, the challenge of uncovering and highlighting the most meaningful data often becomes unmanageable and overwhelming. The difficulty comes in creating a meaningful picture from its data.
How sustainable is the cost of your tuition and fees? First, you need to understand the numbers. Considerations around a few key factors will help provide your institution with the information needed to make important decisions around the cost of attendance.
Today’s information landscape makes it easier than ever to locate and engage graduates. The rise and adoption of Facebook and LinkedIn as THE standards for sharing information should be every alumni office’s bread and butter. Why not capitalize on the free exchange of information, almost all of which is self-posted, solidifying the likelihood that the data is accurate and reliable?
A business is only as good as the data that it has on which to operate and make decisions. Finances need to be in order to better anchor a growth strategy, provide the necessary capital for product development, or fuel a marketing campaign. For every department and facet of a business, data is generated on a daily basis. The question is whether or not it’s being collected and then leveraged as part of the decision making process.