Teesside University has confirmed a partnership with leading data analytics provider MHR Analytics in order to support its financial and fee planning system. Financial workforce planning software, managed by IBM Planning Analytics, will be integrated to reduce time and money spent on spreadsheet-based tuition fee planning and spend more time on strategic development within each department.
Teesside is one of many educational organisations that is turning its attention towards analytics to support transformation in economy and continued industry developments. The new analytics solution will enable the finance team at Teesside University to actually visualise, test and measure a range of scenarios and revenues. The University can segment data based on student retention rates, course profits and the effect of curriculum changes without relying on conventional spreadsheets.
Kendra Pink, the Deputy Director of Finance at Teesside University explains that it is vital that financial forecasting and fee planning processes are effective and accurate. Pink highlights that by eliminating time spent on manual processes will enable teams to be more strategic and remain focused on providing the best educational experience for all students.
Nick Felton, the Senior Vice President of MHR Analytics states that they are pleased to welcome Teesside University to join the increasing number of UK universities partnering with their platform. Felton highlights that competition for funding streams and student numbers is high and becoming more complicated to measure accurately. Felton highlights that the planning analytics platform will enable universities to improve performance and continue to deliver world-class education to students in the UK and worldwide.