Posts Tagged ‘Universities’

Using Data Visualization For Customer Acquisition

BY ICON, POSTED 12, December 2009

The challenge of sorting through, and making sense out of increasingly massive amounts of data has given rise to new discussions about the value of data visualization. Often the emphasis is limited to the clever graphic illustration of information, and not focussed on achieving a real business objective.

In a commercial context, smart data visualizations are, of course, an excellent tool for guiding customers towards a product purchase. The ability for customers to sort through product decisions via visual guides, can be useful in providing an added intuitive level to searching for a product, verses, for example, a standard search field. Having eased the customers path towards the desired product, the transition from to the purchase process becomes much more natural.

For the University of St. Gallen, the leader in Executive Education in the Swiss-German market, traditional customer acquisition and sales relied on direct mailing course information to a known customer base. New customers, would have to find their way to the University, and then received individual advise on which course is appropriate, available, etc. In sum, a very clumsy, inefficient, low-tech approach. In a down economy, where large companies reduce investment in Executive Education, and individuals have less financial resources, the University felt pressured to improve on this recruitment process.

The trend in data visualizations tend to fall into two categories:

1. Graphic tools to help consumers understand data trends, process large pools of data, and find a relevant insight. Here is a recent, popular example of a NYC demographic map:

NYC_Dem_Map

2. Helping consumers sort, and find relationships between information from a variety of sources. Classic examples include News visualizations, such as the Digg Labs “Arc” or the MSNBC “Spectrs News Reader”:

tree2

For the University, who maintains a constantly changing database of over 350 courses for different target audiences, business areas, start dates, costs, etc., we wanted to make it (a) easier for a user to find the relevant information and (b) connect this process to a real sale.

We developed a visual tool to help potential “customers”, sort through the over 350 potential courses of study. Users can modify their search by defining themselves by either their current job position and industry, or their “desired” position and industry. Which allows them in a dynamic way to connect the education required to reach their professional objectives.

treemap

Most importantly, from a business perspective, the path to registration and customer acquisition is rapidly increased. Having found the ideal course, users can contact the admin directly, or simply apply online.
Treemap_Course

Swiss Business Federation: Education as Key to Economic Revival.

BY ICON, POSTED 24, November 2009

Follow-up to our recent post about the responsibility of Universities to create employable students.  Today, the Swiss Business Federation urged the Swiss government to renew its efforts to get the economy back on track by focussing on education.  The federation’s director, Pascal Gentinetta, stated that education has a critical role in economic growth, and that it was essential to work to increase competition among Universities, and focus on giving students marketable job skills.

You can read the whole article here: http://bit.ly/8j9ElW

Are Universities Giving Students the Entrepreneurial Skills They Need to Compete and Succeed?

BY ICON, POSTED 20, November 2009

Among the impacts of this global recession has been the renewed examination of what it takes to, not just survive…but to thrive in the current economy.  Lots has been written about how recessions are moments to fuel innovation.  But another important factor is the training workers receive both at University and at home.  For the generation now in the middle-management level, or entering the job force, the need to compete in the professional environment is a relatively new concept.  In the boom economy, there has simply always been “work”.  And, once in the door of a market fueled company, many workers were able to move along with the success of their firms.

As we look back on this year we can see how, when the market got rough, the Entrepreneurs hit the ground running, and have been largely able to grow and even thrive in this rough market.  Very simply, Entrepreneurs, and small business owners,  already had the skills make business in a competitive environment.  The small business owner has that essential understanding of the direct-connection between “Hard Work” and the “Bottom-Line”.

Just as importantly, the entrepreneur is typically working with a passion that the salaried employee cannot summon.  Over a year ago we interviewed Professor Thomas Gutzwiller and Dr. Henri B. Meier as they founded the Entrepreneurial Management School at the University of St. Gallen.  They both spoke about the psychological mind-set of the Entrepreneur, the need for passion, as well as the special training required that only Universities can provide.  You can view the videos at the Executive School of the University of St. Gallen website here: http://bit.ly/1lhQKP

In the NY Times, Thomas Friedman recently wrote  about the failure of American Education to give workers the competitive skill-set they need to survive.  In a great example, he referenced a major law firm going through layoffs, “I asked him who was getting axed. He said it was interesting: lawyers who were used to just showing up and having work handed to them were the first to go because with the bursting of the credit bubble, that flow of work just isn’t there. But those who have the ability to imagine new services, new opportunities and new ways to recruit work were being retained.

Friedman calls these workers, with the drive to innovate and find new ways to work, the New Untouchables.  Read the article here: http://bit.ly/1S6QQG

I also highly recommend watching General Electric CEO Jeffrey Immelts speech at the Detroit Economic Club where he also addresses how Universities have poorly served the US economy by shifting away from creating workers with competitive market skills. You can see it here on the ICON blog: http://bit.ly/3AVFXH