Business Intelligence

These days, most students are never more than an arm's reach away from their mobile phones. They live, eat, and even sleep near their phones, and increasingly, many of these devices are smartphones. A study from IDC Research found the worldwide mobile phone market grew nearly 20 percent year over year in the first quarter of 2011, fueled by high smartphone growth. Clearly, there is a growing opportunity to engage high school prospects via their mobile devices.

The economic model theory addresses a fundamental question of how scarce resources should be deployed to generate maximum benefits. An economic model includes forecasting, planning, allocating resources, predicting growth, and evaluating risks. The academic library is no exception to an economic model because there is a strong relationship between an academic library and its economic efficiency in budget performance, particularly during economically distressed times. The library operation requires a fresh look at its activities similarly to profit-making firms.

Colleges and universities are increasingly turning to alternative revenue streams, such as grants, private donations, custom publishing, patents, real estate, and profitable graduate courses to help raise revenue. Administrators at these schools say it is the only way they can compete with wealthy private schools that have brand names and large endowments.

Like many institutions, the University of St. Francis rolled out an online portal a few years ago in order to offer round-the-clock support and information to the entire campus community. Given its varied academic profile—a main campus in Joliet, Ill.; a satellite campus in Albuquerque, N.M.; and a thriving distance-learning program—officials hoped the integration of technology into business processes would lead to greater efficiencies and cost savings.

With a web-based interface allowing for staffers across the institution to input information, officials at Central Methodist University, located in Fayette, Mo., figured that awarding scholarships would be a breeze. After all, admission counselors, coaches, and others could easily enter academic and extracurricular credentials for accepted students, allowing for the appropriate officials to approve scholarships and notify the recipients.

The second year of the ongoing Models of Efficiency program continues to demonstrate that campus departments can be innovative and inspired when it comes to finding ways to provide superior service and maximize resources.

"We believe that improving the efficiency of administrative services yields cost savings and reputation benefits that can propel a college into the top tier of success," noted Miles Lasater, chief operations officer and cofounder of Higher One, which has sponsored the Models of Efficiency program from the start.

Albert Einstein had this to say about problem-solving: "You can never solve a problem on the same level on which it was created." In other words, the solution lies at a higher level. That is certainly the truth for many efforts in higher education, where overcoming administrative challenges? that are holding back student or institutional success or service is often about reaching for innovative solutions.

There has been a rash of major embezzlement cases cropping up like a pox at institutions of higher learning all around the country. While employee theft occurs daily at all types of organizations, we have tracked a disproportionate number of significant misappropriations at U.S. colleges and universities. The damage, while significant, is not only financial. Institutional reputation, alumni relations, endowment growth, employee productivity, and even enrollment, can all be negatively affected by a major defalcation.