Business IntelligencePosted by cservaes on July 19, 2013 in "Current Students", Faculty/Staff As outlined in the Top-Ten IT Issues for 2013 (see page 9), education institutions must do a better job of using analytics to support critical institutional outcomes. Ahead of the game, Ottawa University developed the Interactive Marketing and Business Intelligence (IMBI) department in 2009 to do just that. IMBI currently gathers data in the following four areas:
Marketing • IMBI tracks the source of every lead received and the marketing expenditures for every lead source and academic program. The data is used to determine cost per lead, conversion rate to enrollment, and cost per enrollment, as well as where future marketing expenditures should be allocated.
Website • IMBI gathers and reviews extensive data regarding visitors to our website, such as pages viewed, navigation pathways, and completion rates of inquiry forms to determine what website design updates should be made for greater effectiveness.
• Data on student enrollment is key to developing strategies related to lead generation and conversion, best practices, budget, training, student retention, re-marketing to older leads, and more. Some of the data IMBI collects includes lead conversion rate by advisor and source, when leads are most often received, timeliness of contact made with new leads, inactivity on older leads, and the effectiveness of automated processes.
Business Operations • Using Capture software, a new centralized data/report repository has been created through which IMBI tracks and reports on OU’s key performance indicators for marketing, enrollment and finances. By merging data from disparate systems into one database and more effectively structuring the data, trending and “holistic” reporting has become easier and faster, and the capability to perform history analysis has been added. This allows management to make data-informed decisions on critical operational issues.