Analytics, Data Management, ROI, Forecasting
The Official Blog of Forecast5 Analytics
Analytics, Data Management, ROI, Forecasting
One of our K-12 data themes for this year is “academic return on investment.” We are trying to identify new methods and visuals to link functional investments (expenditures) to academic outcomes. In this effort, we have recently rolled out some new analytics that examine expenditures on a “then-versus-now” basis. The reactions to the new analytics have been as interesting as the results.
We started with the idea that an investment should produce some type of measurable return within a three to five-year period…and we combined that idea with the old question “are you putting your money where your mouth is?” In simple terms, the new analytics compare a school districts level of spending in each functional or programmatic area now versus what they were spending three and five years ago.
There are several things we are looking for in this analysis:
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The analytic that we designed has a number of ways in which you can interact with it…and the more you play…the more you see. As we have been helping clients compare their expenditures then-and-now, we have received a number of different reactions…many of which have been repeated by other clients:
How can this type of look-back analysis help a school district…and how does it relate to Academic ROI? The process of analyzing historical data can actually be quite valuable before looking forward and developing future investment plans. Consider the following questions that might be derived from the analytic:
These are just some of the types of questions that might come from this retrospective analysis. It is not always easy to find the time to go through this type of exercise, but for Forecast5 clients, the analytic model is already built…just point-and-click for these insights and answers.
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