In today’s increasingly competitive and ever-changing business landscape, organizations must find ways to stay ahead of the competition and remain competitive. As such, businesses are increasingly turning to online training programs to provide employees with the knowledge, skills, and abilities needed to succeed and remain competitive.
However, in order for these online training programs to be successful, businesses must be able to track and measure the impact of the training, which is why analytics are so important.
Performance Tracking
Analytics are important for businesses to understand the success of their online training programs. By tracking the performance of employees, businesses can identify areas where further training is needed or areas that need improvement. Furthermore, analytics can be used to assess the effectiveness of the training and the overall success of the program. eLearning Industry reported that 45% of investments in corporate training have been found to be ineffective – which could have been avoided by tracking performance [1]. This helps businesses to make changes and adjustments to the program as needed, ensuring that they are getting the most out of their investment.
Trend Identification
In addition to understanding the impact of the training, analytics can also be used to identify trends in the data that can be used to inform future online training programs. For example, businesses can use analytics to identify which topics are resonating with learners, and which topics need to be improved upon. This helps businesses to create more targeted and effective online training programs in the future. Research studies have shown that 68% of data isn’t analyzed within the majority of organizations and up to 82% of enterprises are inhibited by data being siloed [2,3]. Using an ecosystem for online training would keep all key data in one place – making trend identification much simpler.
Return on Investment (ROI)
Finally, analytics can be used to help businesses determine the return on investment (ROI) of their online training program. By tracking the progress of learners, businesses can calculate the cost of the program and the revenue that it generates. This helps businesses to make informed decisions about their online training programs and ensure that they are getting the most out of their investment.
Overall, analytics are essential for businesses to measure the success of their online training programs. By understanding the impact of the training, identifying trends in the data, and calculating the ROI of the program, businesses can ensure that their online training programs are successful and cost-effective.
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[1] https://elearningindustry.com/how-measure-training-effectiveness-learning-analytics-guide-for-cfo
[2] https://www.seagate.com/files/www-content/our-story/rethink-data/files/Rethink_Data_Report_2020.pdf
[3] https://www.dnb.com/perspectives/marketing-sales/data-management-strategies-avoiding-data-management-silos.html
