Why You Should Use Business Intelligence In Corporate eLearning
Business Intelligence involves collecting, analyzing, and managing corporate data. This can be anything from customer spending habits to workplace productivity. Companies even use it to track trends and cut costs to ensure future success. But one of the most significant and overlooked benefits of Business Intelligence in corporate eLearning is increasing the effectiveness of your online training program. Here are just some of the reasons why Business Intelligence is such an important tool in corporate eLearning.
1. Increase Employee Productivity
Business Intelligence in corporate eLearning offers valuable insight into employee performance and workplace efficiency. Everything from sales numbers to customer surveys can help you identify our company's strengths and weaknesses. For example, sluggish sales may indicate that your team needs to brush up on their skills. Thus, you may need to add negotiation, communication, and product knowledge online training courses to your corporate eLearning program. By increasing employee productivity, you have the potential to increase employee retention rates and satisfaction. As a result, your company is more profitable and your staff is more confident and self-fulfilled.
2. Turn Analytics Into Actionable Insights
Organizations have a variety of reports at their disposal. There are profit and loss statements to help you keep track of finances. Employee evaluations identify areas for improvement and improve job performance.
However, when it comes to online training insight, your Learning Management System is the most valuable tool you have. Virtually every Learning Management System comes with analytic and reporting features. It allows you to track various aspects of your corporate eLearning program, from employee progress to completion rates. And you can turn this raw data into actionable insights. You even have the power to pair the LMS findings with your other statistical reports to develop new learning objectives. For example, your employees are breezing through the online training course and your customer satisfaction ratings are still plummeting. This is a sure sign that you need to focus on customer service skills and make you corporate eLearning activities and assessments more challenging.
3. Improve Online Training ROI
Determining the effectiveness of your online training program gives you the power to improve your online training ROI. This is attributed to the fact that you have all the information you need to calculate the expenses versus the benefits. Certain benefits are intangible, such as customer service improvements or employee satisfaction ratings. However, you can still factor them into the equation. If the corporate eLearning isn't living up to expectations, you have the ability to analyze your current corporate eLearning strategy and make adjustments. For example, adding online training modules or activities that align with your business goals.
4. Customize Customer Service Online Training
The most effective online training experiences are personal, relatable, and job-specific. To create effective customer service online training, you can rely on customer spending habits, surveys, and behaviors to customize your online training courses. For example, customers may not be purchasing your service plans because they don't know about them. Thus, you can create an online training presentation that stresses the importance of upselling. It might even include a branching scenario where employees get the chance to try out their new sales skills. Rather than offering a generic online training program, you are filling the performance gaps that hinder your company's success. As a result, your employees are able to reach their goals and improve job-specific skills.
5. Enhance Product Knowledge Online Training
Speaking of sales, Business Intelligence in corporate eLearning helps you identify sales trends so that you can improve your product online training strategy. In some cases, disappointing sales may be a result of knowledge gaps. Employees are simply unaware of the features and benefits a product can offer. Thus, they cannot convey these important details to the consumer. This leads to low sales figures and fewer repeat customers. You can remedy this by developing an effective product online training course. Better still, offer microlearning activities that impart information quickly and conveniently. For instance, 2 to 3 minute online training videos that highlight the features and specs of a product. Serious games, online training presentations, brief online simulations, scenarios, and podcasts are also great online training support tools.
6. Pinpoint Areas For Improvement
Business data gives you the opportunity to identify your company's strengths and weaknesses. This is particularly true when it comes to your spending habits and work practices. A perfect example of this is redundant job tasks or positions, such as two employees who perform the same tasks. The department in question isn't particularly busy. Thus, neither employee has a full workload. So, wouldn't it be wise to retrain one of the employees so that they can fill an existing gap? This is where corporate eLearning comes into play. You can use Business Intelligence in corporate eLearning to find a suitable position for the employee based on their strengths and skills. Then offer them the customized online training they need to be truly productive. All of this allows your organization to allocate its resources more efficiently and tap into the employee's hidden talents.
7. Create A Long-Term Corporate eLearning Strategy
All of the Business Intelligence you've gathered today can ensure the future success of your business. Data tells you how your business has fared in the past and where it is today. It even reveals which trends you need to be aware of in the future. Thus, you can use it to create an ongoing corporate eLearning strategy that evolves with your company. It also gives you the opportunity to stay one step ahead of the competition by maximizing your resources.
Business Intelligence gives you the power to cut online training costs while improving workplace efficiency. However, it’s only a valuable tool if you know how to use it to your advantage. This involves analyzing your data and setting actionable goals so that you can streamline your corporate eLearning strategy.
Does your Learning Management System have the reports you need? Read the article 6 LMS Metrics eLearning Professionals Should Look For to discover the most valuable LMS metrics that your Learning Management System should measure.