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Northwestern University aligns financial processes for deeper insights

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Overview

Institutions of higher education are not immune to the costs associated with remaining competitive and respected while still offering value to its scholars. In this installment of Answers in Analytics, you’ll learn how a world-renowned university controls costs among its various schools, colleges and divisions.

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Transcript

0:09 on we are trying to move a morbid ration with our forecasting system for example 0:15 are to be built a model 0:17 to allow people to park as tuition come up wit you're putting a head count how 0:21 many students do expect to come 0:23 for the next corner and ban if I were to spend 0:26 skirt your charge this much for tuition what would that mean in terms of revenue 0:29 and no one could cost I have associated with the new program 0:32 this has about dramatically improve the processes in our budget office and in 0:37 fact 0:37 I had one of our budget analysts here with me she 0:40 could show you some amazing images and assorted Excel files be used to have to 0:45 manage 0:45 and she would tell you having him and early stayed late came in weekends 0:50 just to basically take did Adam our financial system 0:53 and prepare Excel files to send to people who would 0:56 up and then breakbeat tell I'll sell us having a solution tea and wine saves 1:01 them 1:01 a on a time and worth and when all is said and done they need a way to be able 1:05 to see 1:05 the state and the entire university's budget at a glance and now are these the 1:09 right numbers is this going to work 1:11 or we need to go back and read some numbers are 1:17 are who