User-Friendly Predictive Analytics Recruitment Solution Unveiled at NACAC Conference
September 23, 2009 | Leave a Comment
Baltimore, MD September 23, 2009 — While attending the National Association for College Admission Counselors (NACAC) 65th Annual Conference, ASR unveiled its new Predictive Analytics Solution for Recruitment and Admission. The new solution is designed to put the power of advanced analytics directly into the hands of enrollment management professionals for better evidence-based decision making. ASR’s Recruitment Analytic Models leverage institution specific data to estimate statistically valid forecasts of future enrollment, net tuition revenue, and even retention rates. These models provide enrollment managers with evidence based predictions for shaping the incoming class with the ‘ideal’ students for their institution.
ASR’s solution is different. Admissions professionals will be able to interact with the models to build various enrollment scenarios and change the model’s assumptions. This helps them understand the inevitable trade-offs that can happen when they simulate various policy ‘levers.’ ASR’s solution focuses on making these models accessible to non-technical admissions professionals. Most of the solutions on the market require an IT professional to extract data in a specific file format to provide to a third party that estimates an analytic model. The institution receives a static report to guide planning decisions, but it doesn’t let them simulate a variety of scenarios.
ASR’s new Predictive Analytics Solution for Recruitment and Admission will help the institution develop its recruitment strategy and at the same time enable better day-to-day tactical decision making. The solution will help institutions to:
- Identify causal factors for enrollment
- Analyze a prospect pool for more effective list purchases
- Simulate a multitude of enrollment scenarios
- Forecast enrollment on a daily basis throughout the recruitment lifecycle
- Perform decision impact analysis and assessment
There were three main goals in development of the framework:
- Provide a user-friendly way for busy enrollment management professionals to interact with predictive models to aid in institutional planning.
- Produce a solution that works with existing tools and technology already in use at the institution.
- Eliminate the need for clients to pay new recurring software license fees.
The secret to successfully meeting these goals lies in ASR’s ability to develop analytic solutions that help institutions integrate their people, process, and technology. “We think it’s critically important that advanced analytics are put directly into the hands of those that do the planning and make the decisions” said, Dr. Peter Arena, ASR’s founding principal and chief statistician for higher education. “Using simple, point-and-click interfaces – enrollment professionals can bring data and information to life. The result is a rich user experience that makes it easier to visualize data, simulate decisions before they are made, and ultimately optimize recruiting.”
To get people started with predictive analytics, ASR is offering a special NACAC conference rate for 50% off the company’s Prospect Scoring Report service. Attendees can visit the ASR booth for more details and to see a demonstration of the full solution.
To learn more about ASR’s solutions for higher education visit:
ASR’s Predictive Analytics Solution for Recruitment and Admissions
ASR’s solutions for Higher Education
ASR’s business intelligence blog
About ASR Analytics, LLC
ASR Analytics LLC (ASR) provides high-end business intelligence and analytic consulting services to clients in higher education. ASR aims to provide institutional decision makers with self-service decision support tools to help them be more effective in their recruitment, retention, and accountability initiatives. To learn more about our solutions visit: http://www.asranalytics.com/
Recruiting with Predictive Analytics in Uncertain Times
September 22, 2009 | Leave a Comment
It’s late September and the new academic year has settled upon us. Admission offices across the land are already busy recruiting the next set of classes, while at the same time conducting postmortems on the good and the bad of the most recent campaign. Some institutions have found the 2009 recruitment cycle to be quite unpredictable.
Recently, the Providence Journal ran a story about the difficulty some Rhode Island institutions had enrolling and managing the inflow of new students for the fall semester. This, despite the fact that nationally the number of graduating high school students remains at nearly record highs (although down slightly from the previous 2 or 3 record years). What was driving the instability? The economy, of course.
Private institutions in Rhode Island, according to the article, seem to have been hit the hardest and many were short of their goals. What struck me, however, were the tactics that were used by admission officers to stave off the potential declines. Seemingly, institutions broadly applied a combination of two tactics; either, 1) increase the amount of institutional gift aid to effectively discount the tuition, or, 2) lower admission standards to increase the eligible pool of applicants. Sometimes they did both.
While I may be over simplifying the true remedies attempted by these institutions, I can tell you from experience that the typical responses to shifts in the marketplace for many admission officers tend to be linear and broadly applied:
- When the demographic pool shrinks – buy more search names.
- If times are tough economically – increase the discount.
- When the numbers don’t come through as expected and the cause is not clear – lower admission standards.
The problem with these approaches are that they often conflict with other strategic goals of the institution (e.g. quality, diversity, etc.).
Enter predictive analytics. Although this may seem contradictory to the premise that 2009 was an unpredictable year, statistical modeling techniques are not only warranted in times like these, but even more necessary than during ‘normal’ recruitment cycles. You see, predictive modeling does more than forecast aggregate numbers. The idea is really to understand the key drivers of enrollment using mathematical models. Once you truly understand who and why students enroll at your institution, you can better segment or target the audience and more effectively recruit the students that are more likely to enroll.
As a result, you will be able to address the problems I’ve listed above with more surgical precision. So instead of giving a blanket discount to all accepted students, you will be able to identify the students that will benefit the most from the award through the analysis of a combination of driving factors.
“What-if scenario” decision support applications make it possible to interact with predictive models so that you can “war-game” various scenarios. So, for example, you could make the output of your model more conservative in an uncertain recruitment cycle by applying limits or weighing certain variables (like household income) more heavily in your enrollment propensity models.
The lesson is that there is almost always a way to use data to your advantage, even in turbulent times. Broadly applying tactics across all of the prospective student body should be a last resort.
Press Release: ASR Analytics Puts Predictive Analytics Directly into the Hands of Enrollment Managers
September 29, 2008 | Leave a Comment
Seattle, WA, September 25, 2008: While attending the National Association for College Admission Counselors (NACAC) 64th Annual Conference, ASR unveiled its new Predictive Analytics Solution for Recruitment and Admission. The new solution is designed to put the power of advanced analytics directly into the hands of enrollment management professionals for better evidence-based decision making. ASR’s Recruitment Analytic Models leverage institution specific data to estimate statistically valid forecasts of future enrollment, net tuition revenue, and even retention rates. These models provide enrollment managers with evidence based predictions for shaping the incoming class with the ‘ideal’ students for their institution.
ASR’s solution is different. Admissions professionals will be able to interact with the models to build various enrollment scenarios and change the model’s assumptions. This helps them understand the inevitable trade-offs that can happen when they simulate various policy ‘levers.’ ASR’s solution focuses on making these models accessible to non-technical admissions professionals. Most of the solutions on the market require an IT professional to extract data in a specific file format to provide to a third party that estimates an analytic model. The institution receives a static report to guide planning decisions, but it doesn’t let them simulate a variety of scenarios.
ASR’s new Predictive Analytics Solution for Recruitment and Admission will help the institution develop its recruitment strategy and at the same time enable better day-to-day tactical decision making. The solution will help institutions to:
- Identify causal factors for enrollment
- Analyze a prospect pool for more effective list purchases
- Simulate a multitude of enrollment scenarios
- Forecast enrollment on a daily basis throughout the recruitment lifecycle
- Perform decision impact analysis and assessment
There were three main goals in development of the framework:
- Provide a user-friendly way for busy enrollment management professionals to interact with predictive models to aid in institutional planning.
- Produce a solution that works with existing tools and technology already in use at the institution.
- Eliminate the need for clients to pay new recurring software license fees.
The secret to successfully meeting these goals lies in ASR’s ability to develop analytic solutions that help institutions integrate their people, process, and technology. “We think it’s critically important that advanced analytics are put directly into the hands of those that do the planning and make the decisions” said, Dr. Peter Arena, ASR’s founding principal and chief statistician for higher education. “Using simple, point-and-click interfaces – enrollment professionals can bring data and information to life. The result is a rich user experience that makes it easier to visualize data, simulate decisions before they are made, and ultimately optimize recruiting.”
To learn more about ASR’s solutions for higher education visit:
ASR’s Predictive Analytics Solution for Recruitment and Admissions: http://www.asranalytics.com/solutions/education/recruitment-analytics/
ASR’s solutions for Higher Education: http://www.asranalytics.com/solutions/education/
ASR’s business intelligence blog: http://www.asranalytics.com/category/blog/
About ASR Analytics, LLC
ASR Analytics LLC (ASR) provides high-end business intelligence and analytic consulting services to clients in higher education. ASR aims to provide institutional decision makers with self-service decision support tools to help them be more effective in their recruitment, retention, and accountability initiatives. To learn more about our solutions visit: http://www.asranalytics.com/
The art and science of ‘Elevatoring’
April 16, 2008 | Leave a Comment
Elevators go up and they go down. Not very interesting are they?
Actually, there are some changes afoot in the elevator industry that are quite fascinating such as the proliferation of gigantic skyscrapers being built across the globe. But, aside from this video of a man trapped in an elevator for 41 hours, what caught my eye in this article in The New Yorker was the discussion of analytics being applied by elevator consultants, a practice known as ‘Elevatoring.’
Elevatoring practitioners are employed by architects to determine the correct number, size, speed, and layout of elevators in a new building. Get it wrong and the building is doomed. Elevatorists (is that a word?) must apply predictive analytic techniques to get the design just right. How a building will be used is important, but so is cultural nuance. All kinds of variables must be considered. For example, people get very upset if they have to wait more than 20 seconds for an elevator in an office building, while they will tolerate 30 or 40 seconds in a hotel or apartment building.
Here are a few more interesting facts:
- Probable stop rule of thumb: 10 people in an elevator serving 10 floors will make 6.5 stops. 10 people in an elevator serving 30 floors; 9.5 stops.
- There should be enough elevators operating efficiently enough to move 13% of the occupants of a building within 5 minutes.
- Standard elevator measure is about 2 square feet per person.
- People in Asia will tolerate less personal space than people in the U.S. and willingly cram onto elevators at much greater density rates.
Anyway, if you can find a few minutes to read this quite lengthy article I guarantee you will never look at elevators in the same way again.
(Found via Kottke)