How Predictive Modeling can Benefit Student Recruitment Efforts
How do you predict what a 17 year old will want to do? Most parents would throw their hands up in the air and say “Good luck!” However, predictive modeling for student recruitment has proved that institutions of higher learning can, indeed, make astoundingly accurate predictions using the right data points.
The models generated by predictive analytic software can be of tremendous assistance to admissions offices when it comes to deciding who they will recruit, how they will recruit, and tailoring financial aid package offers that meet both sides’ needs.
Predictive modeling for recruitment is no different than the predictive modeling used by the modern marketer. Schools can use historical data to predict who will accept their offers and what type of financial package is enough to get a student to accept without overshooting the mark.
Recruit wisely. Recruiting is an investment, but you won’t see a return on that investment at all if a large percentage of your recruiting efforts are spent on the wrong student population. With predictive analytics, the data you track can tell you which students are the most likely to attend your school so you can concentrate the majority of your efforts and budgets there.
Design sensible financial aid packages. Every dollar you spend on grants or scholarships for a student who planned to accept your offer anyway is a dollar that could have been spent helping a student who wanted to accept but couldn’t afford it. Predictive models can give you better idea of how your financial aid packages should be structured on a student-by-student basis.
Facilitate student success. Finally, the same type of information and data used to predict student enrollment can also help to facilitate your students’ success by identifying their strengths, weaknesses, and the resources they’ll need to excel, which is another recruiting point.
On Tuesday December 9th, we will be interviewing Dr. Bryan Terry, the Associate Provost of Enrollment Management at UNC Greensboro on how they are using predictive analytics on campus. Dr. Terry joined the institution in January of 2014 to help lead their enrollment management team and leverage predictive analytics. Register for the webinar.
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