CIOs frequently tell us how much they value insights into what other members of the president’s cabinet are prioritizing. For example, many CIOs struggle to articulate the needs of the enrollment manager on their campus, let alone contextualize those needs within larger national trends affecting admissions and financial aid.
Our colleagues in EAB’s Enrollment Management Forum recently surveyed enrollment managers at nearly 50 institutions. We’ve analyzed the results to identify two key ways CIOs can build IT’s reputation as a strategic partner through collaboration with enrollment management.
Enrollment management’s biggest IT needs: Data and analytics
Enrollment managers are under increased pressure to leverage data to achieve enrollment goals. While enrollment leaders are excited about the prospect of data-informed enrollment management, they may not fully understand the IT systems and analytic capabilities required to achieve these objectives.
Although many enrollment management teams have outsourced data-related efforts, internal analytics offer more useful information in the context of that specific institution. IT is therefore uniquely positioned to partner with enrollment management to:
- Identify and support systems that collect data on prospective and incoming students
- Analyze data to strengthen decision making related to admissions, financial aid, and student success
Respondent Interest in Harnessing Data and Analytics*
*Separate data not available for private institutions
Enrollment managers show consistent interest in data analytics across a variety of key enrollment functions. Two of these areas are of particular relevance to CIOs: optimizing financial aid and benchmarking performance.
1. Optimize financial aid and pricing
Enrollment leaders’ top-of-mind issues include strategies to attract and support middle-income students, improve financial aid counseling, and develop financial aid policies with institutional goals. IT can support these critical objectives by:
- Collecting data on historical student characteristics, award types (e.g., merit, need-based, need-aware), award levels, and yield
- Designing platforms to facilitate financial aid counseling services
- Training the enrollment management team on new data capabilities
Respondent Interest in Optimizing Financial Aid and Pricing
2. Benchmark resource allocation and operational performance metrics
Enrollment leaders always want to compare their performance against their peers’—an exercise only possible with clean and accessible data. ERP systems that can disaggregate data related to financial and human resources will support these efforts. The ability to access this data, and also gather information about prospective, admitted, and enrolled students, will help enrollment managers measure the ROI of their resources and compare with other institutions.
Respondent Interest in Benchmarking Resource Allocation and Operational Performance Metrics