{"id":8790,"date":"2019-04-30T14:49:37","date_gmt":"2019-04-30T18:49:37","guid":{"rendered":"https:\/\/blog.brainstation.io\/?p=8790"},"modified":"2019-09-11T13:14:06","modified_gmt":"2019-09-11T17:14:06","slug":"what-is-ld-analytics-and-how-can-it-help-your-business","status":"publish","type":"post","link":"https:\/\/brainstation.io\/blog\/what-is-ld-analytics-and-how-can-it-help-your-business","title":{"rendered":"What is L&#038;D Analytics (and How Can it Help Your Business)?"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">We know by now that workplace learning and development programs are essential to any company\u2019s long-term success. But how do we know if a training program is effective? <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The short answer is data, and more specifically, something called learning and development (L&amp;D) analytics.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">L&amp;D analytics allow us to analyze the effectiveness of training and understand how it correlates to employee engagement, productivity, and overall company success.<\/span><\/p>\n<h2><strong>What is L&amp;D Analytics? <\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">L&amp;D analytics lives under a broader umbrella of workplace <\/span><a href=\"https:\/\/brainstation.io\/blog\/what-is-data-science\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">data science<\/span><\/a><span style=\"font-weight: 400;\">, which uses predictive and prescriptive analytics and machine learning to help us make predictions and decisions. <\/span><span style=\"font-weight: 400;\">Adopting this kind of data-driven approach to learning can help your company answer a number of complex skills training questions, including: <\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Which employees require more support? <\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">What is the rate of employee turnover in relation to trainings completed?<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Which style of learning is most effective for my team members?<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">How have these trainings affected overall business revenue? <\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">This approach can also help create personalized learning experiences, and improve comprehension and subject matter retention. BrainStation\u2019s <\/span><a href=\"https:\/\/brainstation.io\/synapse-learning-platform\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Synapse<\/span><\/a><span style=\"font-weight: 400;\">, for example, is a fully data-driven learning platform, which tracks course comprehension and progress, and encourages student feedback, allowing instructors to develop personalized learning experiences for each student.<\/span><\/p>\n<h2><strong>How L&amp;D Analytics Can Benefit Your Business <\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">Implementing L&amp;D analytics and a more data-driven approach to employee training can help your company develop a culture of learning, which can benefit your business in two key areas: improved employee engagement and better business decision-making. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Put simply, when employees feel that their long-term career goals are supported by their employers, they are less likely to leave. In fact, 70 percent of workers today cite job-related training and development opportunities as a reason for staying at a job. This goes up to 87 percent for millenials, who, it should be noted, now make up the largest portion of the workforce. This is made all the more important when you consider that 43 percent of employed <\/span><a href=\"http:\/\/www.apaexcellence.org\/assets\/general\/2017-training-survey-results.pdf\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Americans are concerned about the changing nature of work<\/span><\/a><span style=\"font-weight: 400;\">. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">With a data-driven approach to learning, companies can now make informed decisions about what sort of training to provide \u2013 is this what the team wants and needs? Will it address the team\u2019s weaknesses? Once you\u2019ve identified gaps and relevant skills to develop for the future, L&amp;D analytics can then be used to compare training and revenue, with questions like these: \u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">How do training results compare at our best performing stores, versus the worst?<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">What impact, if any, does the amount of training hours have on sales? <\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">What impact does the amount of training hours have on employee turnover?<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The answers to questions like these will often justify, and in fact encourage, investment in employee training and help create long-term growth strategies \u2013 for both your employees and the company as a whole. TELUS, one of Canada\u2019s fastest-growing telecommunications companies, provides a good example. The company used a number of employee surveys to develop a culture of learning, and a robust training program, featuring a number of contextual learning tools and platforms, including its own internal versions of YouTube, Twitter, and Facebook. Following these kinds of investments, the company saw employee retention improved by 30 percent.<\/span><\/p>\n<h2><strong>How do I Implement L&amp;D analytics Into my Workplace? <\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">Adopting a data-driven LMS platform like Synapse is the easiest way to start benefiting from L&amp;D analytics in the workplace, particularly if you don&#8217;t already have a Data Scientist or data team in place. If you\u2019d rather have someone on board to dig deeper into the data, we recently wrote about <\/span><a href=\"https:\/\/brainstation.io\/blog\/how-to-hire-a-data-scientist\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">how to hire a Data Scientist<\/span><\/a><span style=\"font-weight: 400;\">. That post took a look at the hiring process, and highlighted the importance of developing a strategy. The same approach is useful when it comes to implementing L&amp;D analytics into the workplace. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">First, you\u2019ll need to map out your goals and objectives, as well as a timeline. Identify the key stakeholders in this decision, developing an approach that would appeal to them. It\u2019s extremely important to ensure that your strategy aligns with your company\u2019s overall business objectives: organizations that <\/span><a href=\"https:\/\/trainingindustry.com\/articles\/measurement-and-analytics\/implementing-a-learning-analytics-strategy\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">\u201care good at strategic alignment get between three and five times higher performance output.\u201d<\/span><\/a><\/p>\n<p><span style=\"font-weight: 400;\">Be sure to consider the context of your company\u2019s work environment (read: office politics!) and any cultural factors that may come into play. Identify your resources and the current capacity of team members who may take on this project. If you\u2019ve got someone on your team who is a whiz at Excel or Python, this may be a great time to retrain or promote a junior employee into a new position as a Data Analyst. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Finally, develop an evaluation system. That means that you are monitoring the results of L&amp;D programs, and also how well your new system is working for your team internally. Schedule regular reviews to make sure your system is running as effectively as possible. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Implementing a system of L&amp;D analytics is crucial for today\u2019s businesses, not only in the area of professional development but also in business growth. By working with a skilled Analyst to collect and analyze relevant data, your business can begin to make informed, data-driven decisions, resulting in higher employee engagement and, ultimately, increased revenue. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>We know by now that workplace learning and development programs are essential to any company\u2019s long-term success. But how do we know if a training program is effective?<\/p>\n","protected":false},"author":7,"featured_media":8793,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[330,1066,70],"tags":[355,208],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What is L&amp;D Analytics (and How Can it Help Your Business)? | BrainStation\u00ae Blog<\/title>\n<meta name=\"description\" content=\"How do you know if your organization&#039;s training program is effective? 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