Analytics refers to the process of collecting, analyzing, interpreting, and presenting data in order to gain insights and make informed decisions. It involves using statistical and computational methods to uncover patterns and relationships within data, and to identify trends and patterns that can be used to guide business decisions.
Analytics can be applied to a wide range of data, including customer data, financial data, web analytics, social media data, and more. By analyzing this data, organizations can gain insights into customer behavior, market trends, and operational efficiency, among other things.
There are several different types of analytics, including descriptive analytics, which involves summarizing and visualizing data; predictive analytics, which uses statistical modeling to make predictions about future events; and prescriptive analytics, which involves using optimization techniques to identify the best course of action to take.
To summarize, analytics provide a powerful tool for organizations looking to make data-driven decisions and stay ahead of the competition.
The Importance of Analytics for Corporate Training
Analytics are essential for corporate training because it provides insights that help organizations improve the effectiveness and ROI of their training programs. Here are some key reasons why analytics are important for corporate training:
Measure Learning Outcomes
Analytics enable organizations to measure the effectiveness of their training programs by tracking learner progress, completion rates, and performance. These metrics help organizations identify areas where learners are struggling and adjust training content accordingly.
Identify Skill Gaps
Analytics help organizations to identify skill gaps and training needs among their employees. This information helps organizations create targeted training programs that address specific areas of need.
Improve Engagement
Analytics can help organizations improve learner engagement by providing insights into how learners interact with the training content. This information can be used to personalize learning paths and create more engaging content.
Optimize Training Resources
The proper use of analytics enables organizations optimize their training resources by identifying which training programs are most effective and which are not. This information can be used to allocate resources more efficiently and maximize the ROI of the training program.
Track ROI
Analytics allow organizations to track the ROI of their training programs by measuring the impact of the training on employee performance, productivity, and business outcomes. This information helps organizations make data-driven decisions about the value of their training investments.
Five Types of Analytics that are Critical for Corporate Training
Corporate training analytics typically involve collecting data on various aspects of employee training programs to measure their effectiveness and identify areas for improvement. Five common types of analytics collected for corporate training include:
Learner Analytics: This type of analytics measures individual learners’ progress, performance, and engagement with the training program. These metrics can include completion rates, quiz scores, time spent on specific modules, and interaction with course materials.
Training Effectiveness Analytics: This type of analytics measures how effective the training program is at achieving its intended outcomes. Metrics can include performance improvement, behavioral changes, or other key performance indicators (KPIs) that were identified as part of the program's objectives.
Content Analytics: This type of analytics measures how well the content is received by learners. Metrics can include how often specific pieces of content are accessed, engagement with videos or interactive elements, and feedback provided by learners.
Cost Analytics: This type of analytics measures the cost of delivering the training program, including development, delivery, and maintenance costs.
Feedback Analytics: This type of analytics measures feedback from learners, trainers, and other stakeholders. Metrics can include satisfaction ratings, comments, and suggestions for improvement.
An LMS to Capture and Analyze Corporate Training Analytics
An LMS (Learning Management System) is a software platform that enables organizations to manage and deliver online training programs. An LMS can also be used to capture and analyze corporate training analytics.
Here are some features an LMS should have to effectively capture and analyze corporate training analytics:
Customizable Dashboards
A customizable dashboard allows administrators to monitor key metrics at a glance, such as learner progress, completion rates, and performance.
Reporting and Analytics
An LMS should have a robust reporting and analytics feature to enable administrators to generate reports on various aspects of the training program, such as learner engagement, content effectiveness, and cost analysis.
Integration with Other Tools
An LMS should integrate with other tools used by the organization, such as HR systems or performance management software, to provide a more comprehensive view of the impact of the training program on employee performance.
Assessment and Evaluation Tools
An LMS should provide assessment and evaluation tools to measure learner performance, such as quizzes, surveys, and assignments.
Personalized Learning
An LMS should offer personalized learning paths for learners based on their role, skill level, and training needs. Personalized learning paths help to improve engagement and increase the effectiveness of the training program.
Mobile Learning
An LMS should offer mobile learning capabilities to enable learners to access training content on-the-go. This feature helps to increase accessibility and learner engagement.
About LMS Portals
At LMS Portals, we provide our clients and partners with a SaaS-based, multi-tenant learning management system that allows you to launch a dedicated training environment (a portal) for each of your unique audiences.
The system includes an embedded SCORM-compliant course authoring tool that enables most anyone to build engaging courses quickly and easily.
We also offer a complete library of ready-made courses, covering most every aspect of corporate training and employee development.
If you choose to, you can create Learning Paths to deliver courses in a logical progression and add structure to your training program. The system also supports Virtual Instructor-Led Training (VILT) and provides tools for social learning.
Together, these features make the LMS Portals platform the ideal solution to collect important analytics for your corporate training program.
Contact us today to get started or visit our Partner Program pages