Top 3 Predictive Models that Support the Enrollment Funnel

TRANSCRIPT – click video above to watch.

Hi. My name is Chris Tyburski, vice president for higher ed consulting here at Encoura with today's Enrollminute.

There are a lot of different predictive models out there, and at their heart, many of them are very similar. They all analyze vast amounts of data, take that data and make it practical for your team to use, and identify students that are most likely to take the next desired step in your enrollment funnel.

But different models look at different funnel points and different types of students. Let's look at the different types of models and how they work. Let's talk about three different types of models that are available to you right now.

The first is a prospect-to-enroll model.

These models look at your institutional history to understand what characteristics make a student likely to enroll with you. We then look at all of the prospects available to you to put into your search plans and tell you which ones look most like the students who enroll with you, increasing your ROI on search.

The second is a market or cohort development model (or a prospect-to-interest model).

We use these when we're trying to develop new markets or try to recruit cohorts of students who look different than our normal student does. These identify students' travel patterns, helping you identify either out-of-state students or students from long distances that are likely to travel to you, or students from in state who are likely to stay there. And also try to find students who are likely to express interest in schools similar to yours. Putting those things together is how we help you develop new markets or new cohorts.

Then finally, we have yield models.

Ours is called Yield+™. These models help look at your admitted students and help you better understand what factors make a student likely to deposit, and also identify those students who need that extra help from your team to move from admission to enrollment and take every step in between.

So that was a quick overview of three different types of models.

1. Prospect-to-enroll, helping you identify which students to put into your search based on those students who have historically enrolled with you.
2. Prospect-to-interest—this is a model to help you develop new cohorts or new markets.
3. A yield model, which looks at your admitted students and helps you identify which ones are likely to yield with you and ultimately enroll in the fall.

So three different models, three different uses. Go out there and pick which one's best for you!