With the enrolment process in full swing, here are 3 ways dashboards will transform your enrolment process:
1. Make faster, better informed decisions
With the data you need at your fingertips, you can act more decisively and dynamically to ensure that courses are neither under or oversubscribed. Early pre-emptive management interventions can be taken to mitigate potential issues that arise during the early part of term so being able to identify large/small group sizes, demand for places and under recruitment by courses can help you put your college in the best possible position in time for the ILR return.
The data can also begin to inform curriculum planning for next year and reveal the courses that will need to be adapted to ensure they attract more students; or discontinued if the demand is not there.
2. Improve cash-flow with faster invoicing
With real-time information on student enrolments easily accessible across college teams, your finance department can get invoices issued more quickly and you can get paid faster. Furthermore, links between enrolment data and data supplied to colleges by the Student Loan Company will ensure that you keep an accurate track of all loan applications to enable timely process of income and monitoring of college loan facility budget. Dashboards will also reveal the profitability of individual courses and programmes of study by monitoring the generation of income from funding, fees and student loans against the delivery costs of the course. So you can better assess course viability and target maximum efficiency.
3. Reveal what marketing activities work to drive enrolments up
Use dashboards to show your marketing team which emails get the most opens and clicks that lead to enrolments.
As the data is real-time you can replicate the successful ones quickly and bin the ones that aren’t working. So you can ensure that your marketing is as effective as it possibly can be in getting your courses filled up.
Staying ahead of the competition
By using data dashboards to manage enrolment data you can maintain a competitive edge in a time when private apprenticeship schemes are attracting more and more applicants.
The real-time reporting capabilities that dashboards provide will ensure that your in-year college enrolment forecasts are as accurate as possible.
Accurate and timely analysis of funding position will provide you with the early indication needed to prepare funding growth bids, target management interventions and monitor student retention.
If you know exactly where you stand at any given moment, you’re better placed to make decisions to ensure you still receive a steady flow of applicants despite the increased competition.
Matt Taylor, Director of Taylor-Made, is a specialist in all aspects of MIS for the Education sector including funding, contract management, operational performance monitoring and audit & compliance; as well as planning & performance, report writing, funding growth bids and data analysis for all types of provision including FE, HE, WBL, Apprenticeships, ESF and Commercial.
Prior to setting up his own consultancy business, Matt had a long and successful career as Director of Funding and MIS for The Manchester College.