Did your training positively impact the business? Will repeating it in the future be worth it? These are big questions with wide-ranging implications for learning leaders. To this point, they’ve also been difficult or impossible to answer in real time. But that’s about to change with Wax LRS’s Business Impact Dashboard.
We’re looking to work closely with select companies to build this capability…
The Business Impact Dashboard revolutionizes the way L&D contributes to employee readiness and business results. It empowers you to measure the impact (or lack thereof) on multiple business outcomes after traceable training events at specified points of intervention. By analyzing and visualizing cost savings, added revenue of training interventions, and changes in other business metrics, the Business Impact Dashboard informs and improves your future courses of action.
Which learning programs have low impact and might be better off discontinued? What is the added revenue impact as a result? How did a measured business indicator change as a result of a learning experience? These are the questions you want to be able to answer when presenting the evidence of your work to senior leadership, and the Business Impact Dashboard is the ideal tool to back up your arguments with hard data.
The Business Impact Dashboard is not a simplistic statistical approach correlating training with performance. Our approach uses modern data techniques such as model averaging with built-in diagnostics and conservative estimates. Instead of acting like L&D takes place in a lab, our methodology uses tested algorithms for non-experimental data that are sensitive to constantly changing business environments.
We want to put the Business Impact Dashboard to work in those business environments, and we need your help to do it. Saltbox is running a pilot project to build the Business Impact Dashboard with select Wax LRS customers. Those chosen for the pilot project will get exclusive access to the Business Impact Dashboard, have a dedicated technical support manager for the duration of the project, and receive two years of access to the dashboard at a single flat price. Participants must fit certain criteria to be considered for the project including data set fitness and L&D organizational models. If you drop us a line or leave a comment below, we’d be happy to setup a demo and discuss whether your organization would be a match.
Answering the big questions. That’s what we want to enable L&D to be able to do, and the Business Impact Dashboard is a huge leap in that direction. If you’re an adventurous learning leader and want to learn more about what BID can do, or are interested in joining us for the pilot project, head to the Business Impact Dashboard site, for more detail and a sneak peak.