Why HEIs should take a leaf out of the business playbook

Higher education in the United Kingdom is a serious business. According to a report commissioned by Universities UK, it contributes approximately £95 billion (US$119 billion) to the economy and supports over 815,000 jobs, with many universities having annual incomes running into tens of millions of pounds.

Studying for a degree provides an opportunity for growth and development that extends beyond the lecture theatre and the workplace, so it’s a business with a social mission: the mission to improve and enrich the personal and professional lives of students and make a real difference to upward social mobility.

It’s also a sector that exists within a highly competitive marketplace. Institutions must compete to expand, attract, and retain both students and staff and increasingly; therefore, it’s a sector that needs to demonstrate it is delivering value for money.

A recent survey by the Higher Education Policy Institute revealed 31% of students thought their courses were either poor or very poor value and only a quarter surveyed felt they were given enough information on how their tuition fees were spent.

This means it should also be a sector that increasingly needs to assess how it operates through a business and-or consumer lens. This doesn't mean morphing into a corporate entity, but it does mean it is important institutions analyse and, in many cases, appropriate the mechanisms and processes deployed by successful commercially operated businesses.

Using insight is fundamental

Most businesses have now identified that having access to effective data and insight is fundamental to success. Universities need to harness their data as well, so they can better understand the needs of their students, from designing the curriculum through to supporting well-being.

Historically, however, the organic way in which institutions have grown their administrative support functions has led to a more siloed approach, resulting in more convoluted processing, which makes it difficult for them to react quickly to market and customer needs.

In a competitive marketplace it is important to have real-time visibility of data as well as trust in its accuracy. Working off spreadsheets and manually entering information is resource intensive and can result in duplication, inaccurate information and missed opportunities.

A joined-up approach to students’ needs

The higher education landscape is fast-moving and institutions need to pivot at pace to make sure what’s on offer is what both students and the future workplace need.

According to a UCAS report, 83% of students choose their degree subject before they choose their preferred university or college; it’s imperative, therefore, that universities provide prospective students with relevant information about their ‘products’, which, in this case, are the courses, to drive recruitment.

If we think about this in business terms, these initial student enquiries need to be ‘converted’ into applications and admissions.

Being more in alignment with the business sector and eliminating siloed working and improving information-sharing assists universities to take a more joined-up approach to meeting students’ needs – both academically and in relation to well-being.

A holistic approach

An integrated approach to data collection and sharing will give institutions the insight they need to have a 360-degree view that enables them to better support students through the transitionary period and beyond.

For example, in the Higher Education Policy Institute survey ethnic minority students reported having a less positive experience than white students.

Having access to the data that could alert an institution to the early signs that things are not progressing well for a particular student, or identifying trends that indicate a particular group’s needs are not being met, can help staff have more meaningful conversations with students and take action.

Unified repeatable business processes support this approach.

Tracking and sharing success

Improved data-sharing is essential to understanding student behaviour and in assessing institutional performance. Has student engagement in a course or module waned? Does it need to be modified to meet the needs of students and employers?

Pulling all the insight into a dashboard, such as the number of scheduled teaching and assessment contact hours, will give an overview and enable courses to be monitored for engagement and remain relevant. It proves to both the university and students when the courses are offering value for money and achieving a good return on investment, or whether they need changing.

A survey by the Office for Students found 90% of respondents cited quality of teaching, assessment and feedback as important in demonstrating value for money. Capturing this data can help institutions evidence this.

Using metrics specific to each department reflecting varying risk factors by programme can increase retention rates through more proactive student support. It’s also about having better visibility with student and programme successes, sharing information with other departments, and fostering a stronger network of engagement with students holistically.

Smarter and more focused

The highly competitive higher education landscape makes it imperative for institutions to know with certainty what is working and what isn’t, or they won’t survive.

This is translating into a growing need for higher education institutions to be modelled on the culture, IT and processes adopted by successful commercial organisations to help improve efficiencies and better understand the needs of students, employees and employers.

Taking a leaf out of the business playbook will give organisations easier access to accurate data and help them respond more quickly to market demands.

Far from being at odds with the academic and enrichment ethos that underpins all great institutions, this approach will help them strengthen their relationship with students, from the initial application stage through to graduation, and bring certainty to their social mission.

Ian Anderson is global enterprise architect at campus technology solutions business Ellucian.