Converge 2014: Using Data-Driven Decision Making to Inform Academic Program Development - Power-Barnes
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The document outlines the role of market research in developing academic programs at Thomas Edison State College, focusing on the adult student demographic and the competitive educational landscape. It emphasizes the need for program relevance to job market demands and financial sustainability to attract students, while highlighting the challenges of increased competition and changing student demographics. The research supported the identification of new programs and strategic collaboration among various internal stakeholders to meet growth goals.
Converge 2014: Using Data-Driven Decision Making to Inform Academic Program Development - Power-Barnes
- 1. Utilizing Market Research to Inform Academic Program Development, Facilitate Collaboration and Impact Your Institution’s Bottom Line Marie R. Power-Barnes October 15, 2014 Converge 2014 – Nashville, TN
- 2. College Background Chartered 1972 One of NJ’s 12 Senior Public Institutions of Higher Learning NJ’s Only College Designed Exclusively for Adult Market Accredited by Middle States Comm. on Higher Education Distance Learning Model : Online Courses, Credit Transfer, Prior Learning Assessment, Credit by Exam, Credit for Professional and Military Training, including programs evaluated by American Council for Education College Credit Recommendation Service Marie R. Power-Barnes, Converge 2014, Nashville, TN
- 3. Fast Facts* Current Enrollment: 21,495 Undergraduate 20,143 Graduate 1,352 Average Age: 36 Degrees Awarded: 50,147 Geographic Scope: Serving students in all 50 states and approximately 60 countries throughout the world *June 30, 2014 Marie R. Power-Barnes, Converge 2014, Nashville, TN
- 4. Tuition Undergraduate Comprehensive Annual Tuition: NJ Residents $5,871 Out of State Residents $8,647 Per Credit Undergraduate Tuition Graduate NJ and Out of State $617 per credit MBA $666 per credit Nursing (MSN) BSN NJ Residents $407 per credit BSN Out of State Residents $491 per credit Marie R. Power-Barnes, Converge 2014, Nashville, TN NJ Residents $407 per credit Out of State Residents $491 per credit
- 5. Our Approach Provide best information to potential adult student to assist them in making an informed decision regarding their choice of institution Attract self-directed adults – we are not the best fit for everyone Inform, not recruit Marie R. Power-Barnes, Converge 2014, Nashville, TN
- 6. Identifying New Academic Program Offerings - the early days… Marie R. Power-Barnes, Converge 2014, Nashville, TN College Degree = Job Stronger Economy Academic Expertise Drove Program Development Undergrad Higher Education Market dominated by 18 – 22 year olds
- 7. Identifying New Academic Program Offerings - just a few years back… Marie R. Power-Barnes, Converge 2014, Nashville, TN Awareness of Increased Competition Changing Economy Watch and see mode Emerging fiscal concerns Growth in online and adult market
- 8. Identifying New Academic Program Offerings - today… Marie R. Power-Barnes, Converge 2014, Nashville, TN Post recession economy College degree NO LONGER GUARANTEES a job Marked shift in higher education student demographics - “adults” are the largest proportion of students enrolled in higher education today Technology has dramatically changed both expectations and access Competition for enrollments is FIERCE (public, private and for-profit) Revenue and Margins now strongly influence, and in many cases define, new academic program development , often causing friction and disconnect between Academic Affairs and Operating Units (Enrollment Management, Marketing, Finance, etc.)
- 9. Our Students Choose Our Programs Based on How Their Lives Will be Impacted Marie R. Power-Barnes, Converge 2014, Nashville, TN Career and financial advancement Balancing of quality and cost – affordability is key Reputation of the degree/granting institution Degree programs relevancy to today’s job market and economy Availability of additional specializations/skills to enhance current job status or make student “more marketable”
- 10. Identifying Quality and Relevant Program Offerings That Meet Market Needs and Support the Institution’s Mission: Marie R. Power-Barnes, Converge 2014, Nashville, TN Academic Expertise and Experience Market Research
- 11. “In God we trust. All others must bring data.” W. Edwards Deming Marie R. Power-Barnes, Converge 2014, Nashville, TN
- 12. Three Basic Facts Life (according to MPB): Spell check is not your friend; Elastic is not your friend; Market Research IS your friend – no matter what your position is in the institution! Marie R. Power-Barnes, Converge 2014, Nashville, TN
- 13. Our Challenge Increased competition impacting enrollment growth Key competitors with deep pockets Strategic focus to grow graduate enrollments to 12% of current enrollments by 2017 (6.1 % at time of review) No “marque” graduate degree Ever-changing job market impacting student decisions Marie R. Power-Barnes, Converge 2014, Nashville, TN
- 14. The Approach Internal Stakeholders: In-depth discussions with Academic Affairs (Provost and Deans) and Enrollment Management regarding challenges and desired outcomes : Meeting growth goals Increased competition for students Limited resources Target market identification Market relevancy Program development State approvals Accreditations Course development Implementation viability Mission fit Marie R. Power-Barnes, Converge 2014, Nashville, TN
- 15. Our Charge Answer the following key questions: What graduate programs will be in high demand in the next 5-10 years to meet the needs of projected job growth? What are the degree trends among graduate programs in the New Jersey/New York/Pennsylvania market? What are the biggest opportunities for Thomas Edison State College, given its position in the market? Marie R. Power-Barnes, Converge 2014, Nashville, TN
- 16. The Research Process Partnered with Converge Consulting to assist with Market Research Information gathering: Analyzed IPEDS data of graduate degrees offered by program in PA, NJ, NY market Analyzed job information from Burning Glass to determine Job growth Required skills Starting salary Top hiring companies Analyzed Bureau of Labor Statistics information to project job growth from 2010 - 2020 Conducted Google searches to understand job trends in tri-state area Marie R. Power-Barnes, Converge 2014, Nashville, TN
- 17. Criteria for Inclusion Strong growth in number of posted job openings 2007 - 2011 Strong growth in degrees granted in the tri-state area 2007 - 2011 Programs with fewer than 100 degrees conferred in the past five years were not included Marie R. Power-Barnes, Converge 2014, Nashville, TN
- 18. Caveats Degree information is self-reported by institution Institutions determine CIP codes for their own programs Programs that IPEDS classifies as different may actually be similar Matching of degrees to jobs is not an exact science There may be more than one degree that matches a job or vice versa Some job classifications have incomplete data Marie R. Power-Barnes, Converge 2014, Nashville, TN
- 19. Relevant Findings Most of the recommended programs fell into one of four disciplines 19 Programs were recommended for further exploration, and were prioritized into three tiers based on: Job growth Degree growth Number of institutions currently granting degree Presence of a dominant player in the market Cost of current programs/opportunity for a low-cost provider Fit with existing programs Marie R. Power-Barnes, Converge 2014, Nashville, TN
- 20. Degree A Program Recommendation 20
- 21. Degree B Program Recommendation 21
- 22. Outcomes One of 19 recommended programs fully adopted and implemented Several program recommendations adopted as specialties within existing degrees Several existing degrees retooled to reflect intelligence obtained through study Strengthened collaboration between operating units evaluating opportunities Since study, MULTIPLE requests for program demand and feasibility analysis have been made. All handled internally. Some programs have been pursued, other have not, and one existing program was re- examined and afforded a dignified death, all based on market facts and trends and collegial collaboration. Marie R. Power-Barnes, Converge 2014, Nashville, TN
- 23. Your Internal Process Evaluate your resources – internal Market Research department, Institutional Research, Marketing, Academic Affairs, Enrollment Management - who can do it and how will you pay for it? One person band or a village? Collaborate, collaborate, collaborate! Determine internal, external or mixed responsibilities for project Establish project time line Identify vendors (where applicable) and resources Research, report, recommend Re-examine! Marie R. Power-Barnes, Converge 2014, Nashville, TN
- 24. Analyzing Current Market Share Define your Competitive Set for EACH degree program you are evaluating – for example, you would have different competitors for your Nursing MSN and Business MBA programs. Collect most recent data on degrees granted. Degrees reflect demand; enrollments can be aspirational! Calculate your market share within your defined competitive set. Analyze your position. Be real with the numbers. 52% share of a program with 36 degrees awarded is nothing to write home about! Marie R. Power-Barnes, Converge 2014, Nashville, TN
- 25. Analyzing Future Market Share Analyze US Department of Labor, Bureau of Labor Statistics job growth projections as they relate to your chosen degree programs. Note that often you will not find a direct correlation to a given degree. Evaluate employment market in your state or target geographic area, including trend, historical and real-time data. Watch job trends, national reports, etc. Utilize Google searches and alerts. Triangulate current and future market share data with institutional and trend data, internal surveys and other data sources, internal growth goals, etc. to formulate recommendations. Marie R. Power-Barnes, Converge 2014, Nashville, TN
- 26. Considerations Strategic /Identify New Markets/Complement Mission Market Driven Differentiated from Competitors Relevant Analysis of Cost and Revenue/Enrollment Potential Margins Marketing Implications Marie R. Power-Barnes, Converge 2014, Nashville, TN
- 27. Resources: NCES College Navigator: http://nces.ed.gov/collegenavigator Burning Glass http://www.burning-glass.com US Department of Labor, Bureau of Labor Statistics, Occupational Outlook Handbook http://www.bls.gov/ooh Marie R. Power-Barnes, Converge 2014, Nashville, TN
- 28. THANK YOU! Marie R. Power-Barnes Thomas Edison State College mpowerbarnes@tesc.edu 609-984-4839, ext. 2050 Marie R. Power-Barnes, Converge 2014, Nashville, TN