Bennington College Implements Yield Optimization Software
- By Dian Schaffhauser
Bennington College in Vermont has selected Rapid Insight as its analytic software provider. Bennington plans to start off by using Rapid Insight's new software, Yield Optimization, to improve recruiting cost effectiveness and to optimize applicant yield rates from prospect and inquiry pools.
The solution uses information from the initial inquiry source, demographic information, and how far the prospect lives from the institution to enable the institution to target its marketing and recruiting efforts to increase yield rates, while minimizing costs. The Rapid Insight Student Prospect Yield software and methodology uses the company's data integration and analytics technology.
"Rapid Insight has worked hard to create models and methodologies that clearly demonstrate the immediate value of their solutions," said Heather Clifford, senior assistant to the dean of admissions and financial aid. "We are very excited to begin our utilization, and we are equally thrilled with their commitment to partnering with us to ensure success."
Following the implementation of Prospect Yield Optimization, Bennington plans to implement the vendor's student retention software. In addition, the college anticipates expanding the use of these tools in the management of facilities, schedule, and staffing.
The student yield optimization program starts at $8,500 for a single license.
Dian Schaffhauser is a senior contributing editor for 1105 Media's education publications THE Journal and Campus Technology. She can be reached at firstname.lastname@example.org or on Twitter @schaffhauser.