It’s been said that Inuits have 50 words for ‘snow.’ Or 70. Or even upward of 180, depending on who you ask and what tundra and people you’re talking about.
And these days, it often feels the same could be said about information.
Big Data. Analytics. Metrics. Insights. Knowledge.
So many ways to talk about the seemingly bottomless wealth of information afforded us by virtue of technology. Every business wants it – but how many actually know what to do with it?
And the eLearning industry is no different. In fact, we often field the same questions from our clients who understandably want to know the ROI on their investment in training and continuing education. Because, simply put, you can’t manage what you don’t measure.
So here, we share some of eLearning analytics’ most frequently asked questions so you can inspect what you expect.
Return on investment is easily one of the most critical metrics – but it’s easy to just assume that training is always a good investment and not give it another thought. Because while training may seem too subjective to be quantified, nothing could be further from the truth.
Big Data and its technologies have become such a driving factor in eLearning and continuing education that 80 percent of large businesses and 63 percent of smaller businesses were using or planning to use big-data solutions, according to an IDG research study.
eLearning analytics is the collection of data gathered while learners are engaged in eLearning, as well as the analysis and reporting of such information. These analytics provide critical pieces of data recorded throughout the course, such as a learner’s score on a test, how quickly they progress through a module, how many times they’ve logged in if they’ve participated in a discussion board and more.
BONUS: Try our Training ROI Tool to assess your company’s potential training return on investment.
When you realize that training isn’t exactly a miscellaneous line item on the budget, it’s easy to see why calculating its ROI proves all the more critical because in business, every expenditure shares the same goal: to bring in more revenue.
So whether you’re spending on advertising, employee benefits, or training, data needs to be collected, analyzed and scrutinized to make sure the dollars-and-cents make sense.
Some actionable KPIs that can be gleaned from eLearning analytics can include:
eLearning analytics offer facilitators and instructors a comprehensive, holistic view of how a learner performs, specifically if they’re struggling with a particular lesson or subject, and if they are likely to pass or fail.
It can then be determined which learning materials are appropriate, useful, or relevant based primarily upon a learner’s performance, skill level, and personal interests.
An example of analytics in action is predictive learning, which leverages third-party LMS data according to what learning needs someone has in real time at the exact place and moment of need by collecting and analyzing all the data, applying algorithms, and then providing training opportunities accordingly.
The result is employees with highly personalized online training that bridges the knowledge, skill and experience gap and improves workplace performance. As an added bonus, external data sources can also be integrated into the system to provide a more complete and exhaustive employee profile, including customer surveys, manager evaluations, and on-the-job observations.
Consider this proactive example: An electrician needs to service a building who places a work order for a light bulb. That data feeds into the LMS which then prompts the delivery of lightbulb-specific training – prescribing a ladder safety course to the technician, other safety precautions, installation recommendations and more.
Consider this reactive example: That same electrician has a history of accidents, so the system can then deliver extra training in the areas of weakness that may be responsible for the recurring accidents.
Ready to leverage your eLearning analytics to better train and engage learners – while increasing your ROI – with long-term sustainability and skill sets that rise to meet new workforce demands and developments? Learn how our solutions can help today!