Rapid Insight Inc. Announces Yield Optimization Software
Bennington College chooses Rapid Insight's solution
Conway, NH - February 10, 2009 - Bennington College has selected Rapid Insight Inc. as its analytic software provider. Bennington plans to start off by utilizing Rapid Insight's Yield Optimization solution, announced today, to improve recruiting cost effectiveness and to optimize applicant yield rates from prospect and inquiry pools.
Rapid Insight's software and methodologies enable higher education institutions to effectively target recruitment efforts, while at the same time understand all of the attributes and variables surrounding student success and retention. Given the current economic environment, cost effective recruitment is more important than ever. Equally important is the ability to ensure student success and maximize student retention.
"Our Yield Optimization software gives customers a framework to understand the attributes of inquiries and prospects likely to apply and enroll. The solution utilizes information from the initial inquiry source, demographic information, and how far the prospect lives from the institution." said Michael Laracy, President of Rapid Insight. "This enables the institution to target their marketing and recruiting efforts to increase yield rates, while minimizing costs. Traditional methods of recruiting have been costly and have not resulted in a high degree of yield."
Managing marketing and recruiting expense and time is one way to ensure institutional cost effectiveness - but it also leads to better enrollment prediction and helps stabilize institutional revenue.
"Rapid Insight has worked hard to create models and methodologies that clearly demonstrate the immediate value of their solutions. We are very excited to begin our utilization and we are equally thrilled with their commitment to partnering with us to ensure success", said Heather Clifford, Senior Assistant to the Dean of Admissions and Financial Aid at Bennington College.
The Rapid Insight Student Prospect Yield software and methodology utilizes Rapid Insight® Data Integration as well as Rapid Insight® Analytics technology. These software tools enable institutions to extract, piece together and manage data for analyzing any element of institutional operation. With a visual point and click graphical user interface, Rapid Insight aims to empower institutions with data driven decision making as simply and affordably as possible.
Immediately following the implementation of Prospect Yield Optimization, Bennington plans to implement Rapid Insight's Student Retention software. In addition, they anticipate expanding the use of these tools to affect their management of facilities, schedule and staffing.
Pricing and Availability
Rapid Insight Retention Analysis is available today directly from Rapid Insight. The package starts at $8,500.00 for a single license with discounts for volume purchases.
About Rapid Insight Inc.
Rapid Insight Inc. is a leading provider of business intelligence and automated predictive analytics software. With a focus on ease of use and efficiency, Rapid Insight products enable users to turn their raw data into actionable information. The company's analytic software simplifies the extraction and analysis of data, enabling clients ranging from small businesses to Fortune 500 companies to fully utilize their information for data-driven decision making. Founded in 2002 in Conway, New Hampshire, Rapid Insight is a privately held company with clients and partners across the nation.
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