Modern businesses are spoilt for choice these days, with the overwhelming range of new technologies and solutions on offer. Behind all of these technologies is quite simply the clever use of data.
Data will only increase in it’s importance as the key to making well-informed decisions, and companies are increasingly recognizing the value of data-driven insights in shaping their strategies and improving overall performance. Often collecting the data can be the easy part, but knowing what it is telling you, and where to go next, is more difficult.
For L&D departments, this shift means more than just tracking training activities; it means getting to grips with how to best use all available data in order to optimize training, enhance employee skills, and drive business growth.
In this blog post, we’ll explore two distinct approaches to utilizing L&D data and how they benefit both the training department and broader business goals.
One way to leverage L&D data is by utilizing your Learning Management System’s (LMS) native reporting capabilities. This approach offers several key benefits:
With native data collection, all your training-related data is gathered automatically within your LMS. This includes course completion rates, assessment scores, time spent on courses, and more. This streamlines the data collection process and ensures data accuracy.
Modern LMS platforms often offer extensive reporting tools that allow you to create customized reports and dashboards tailored to your specific needs. This means you can track key L&D metrics, such as learner engagement, skill development, and training effectiveness, with ease.
Native reporting capabilities provide real-time insights, enabling L&D professionals to make quick adjustments to training programs, identify areas for improvement, and ensure employees are acquiring the skills necessary for their roles.
By leveraging these capabilities, L&D teams can better understand individual learner needs and personalize training experiences. This fosters employee engagement and satisfaction, contributing to overall business success.
While native reporting is powerful, some companies require even more flexibility and integration options. This is where direct database access comes into play. By providing direct access to the L&D database, organizations can combine L&D data with other data sources and visualize them in tools like PowerBI, Tableau, or similar platforms:
Direct database access allows organizations to integrate L&D data seamlessly with other business-related KPIs. This holistic approach provides a comprehensive view of the organization’s performance, enabling leaders to make more informed decisions.
By combining L&D data with data from sales, marketing, finance, and other departments, organizations can identify correlations and uncover insights that may not be apparent when analyzing data in isolation. This synergy can lead to strategic advantages and innovation opportunities.
Tools like PowerBI and Tableau offer advanced analytics capabilities, enabling organizations to create interactive dashboards, predictive models, and data-driven visualizations. These tools empower business leaders to explore data in depth and identify trends and opportunities for improvement.
With direct database access, organizations can proactively identify and address skill gaps, align training initiatives with business goals, and ensure that L&D investments drive measurable results.
Whether you choose to utilize native reporting capabilities or opt for direct database access, the importance of L&D data in the broader business context cannot be overstated. L&D data fuels employee growth, fosters innovation, and ultimately impacts the bottom line. It enables organizations to:
Enhance employee productivity. Well-trained employees are more efficient and effective in their roles, directly contributing to productivity gains.
Drive innovation: A skilled workforce is essential for innovation. L&D data helps identify skills gaps and align training programs with innovation goals.
Improve decision-making: Data-driven insights inform strategic decisions, ensuring that resources are allocated where they will have the most significant impact.
Overall, getting the best out of your L&D data is not just a matter of tracking training activities; it’s about uncovering the full potential of your workforce and driving business success. Whether you choose to make full use of existing native reporting capabilities or opt for direct database access, the key is to embrace data-driven L&D practices as an integral part of your organization’s broader strategy. By doing so, you’ll position your company for growth, innovation, and sustained excellence in the ever-evolving digital business world.
In our use case for data-informed L&D, we explore how our customers use data and learning analytics to solve their everyday L&D challenges.