Chief Learning Officers spend copious amounts of time and money on learning management systems – as they should, but there’s one big problem: they can’t measure the precise impact the LMS has on not only training goals but overarching business objectives.
Most learning management systems lack the depth of data insights necessary to measure the ROI of your training programs. If your learning management system lacks the following analytic capabilities, you may need to integrate it with a knowledge engineering platform.
Three Essential Employee Insights to Pull From Your LMS
1. Confidently Held Misinformation (CHM) – This is the most important metric you’ve never heard of (unless you’re a huge nerd and read all of our content). What is it? It’s the precursor to error. The sooner you detect it, the less organizational risk you face. We’ve found that professionals across industries possess varying degrees of CHM. The variation (even among employees who report to the same boss) is astounding. CHM data goes beyond traditional reporting and prioritizes struggle areas based on learner-assessed confidence. Imagine the long-term benefits of focusing on high-risk topics and high-risk employees before lower-risk areas. Imagine the immediate reduction in error and injury.
2. Struggle Heatmaps – Your LMS (and/or its integrated, data-rich learning platform) should provide insight into four particular types of risk: Misinformation, Regression, Understanding, and Systemic. The risk posed by a lack of understanding can be visualized in the form of a struggle heatmap. Your reporting functionality should highlight employees who struggle to master a question or topic after several attempts, even after viewing the correct answer. Actionable analytics like this can be sent directly to managers who can help high-risk employees reach their potential.
3. Misinformation to Mastery – Reporting that compares starting knowledge to ending knowledge should not only provide a visual representation of success but should quantify the monetary ROI of your training program. For example, if you know the average annual cost of a specific problem you’re trying to solve as well as the number of incidents per year directly caused by misinformation, you’ll have an accurate estimate of the financial impact of relevant training content. Employees who can confidently deploy knowledge under pressure are vital to financial success.
These three data insights are just the beginning. Learn how you can integrate your LMS with a data-rich learning platform by contacting us.