The results of these models can be used for a variety of enrollment management purposes:
- to identify factors that are important in the enrollment or re-enrollment decision;
- to determine the impact of institutional grants on the probability of enrolling;
- to identify the price sensitivity of each applicant or continuing student;
- to suggest changes in financial aid packaging that would be revenue enhancing;
- to simulate the impact of changes in acceptance policies and financial aid packaging on net tuition revenue, class quality and other class characteristics.
Sample Freshman Simulation Summary Table
In sum, this type of analysis will allow you to consider your options and weigh trade-offs in order to establish policies and strategies that will produce your optimal new class in the short-term and provide clear direction for institutional strategic planning in the long-term.
You may already have the data necessary to take advantage of this type of analysis.
There is no need to conduct market research or collect additional data. You most likely have all of the admissions and financial aid data you need in your student information system.