Unit4 delivers enterprise scale AI-powered performance management for Higher Education Institutions
Injects AI into the core of CPM taking data-driven forecasting to new levels
Utrecht, Netherlands, US, July 11, 2018 - Unit4, a world leader in student management systems for Higher Education, announces today the release of Unit4 Prevero Corporate Performance Management (CPM) with Artificial Intelligence (AI) and advanced data analytics to drive new levels of data-driven decision making for forward-looking educational institutions.
Boards today expect high-quality analyses, suggestions, forecasts and budgets and they want them faster and more frequently. Prevero with AI takes advantage of neural networks and deep learning technology to provide decision makers with a deeper understanding of the student lifecycle, helping to predict student success and prevent attrition. On desktops or mobile devices, decision makers will benefit from this new source of insight and ways of collaborating on common sets of meaningful data. As well as taking automation to a much higher level, effectively self-driving and freeing people to focus on more value-add work, it makes decision-makers smarter, so they can take a new perspective on their organization and become much more forward-looking.
The use cases for this technology are many and varied. The first features to be delivered in July 2018 are:
- AI-enhanced forecasts that apply deep learning on available actuals and other data to predict future outcomes. These forecasts deliver high-quality results, recognizing patterns and non-linear trends of multiple derivatives. The process is much simpler than statistical methods – a single click instead of having to know the right function and parameters.
- Data anomaly detection ensures the CPM system provides automatic feedback while data is input. The system automatically analyzes every entry based on available data and when it notices a conflict or a figure that seems out of place, it automatically suggests a correction. Instead of investing time and effort in the manual definition of rules, which will never cover all potential anomalies, the software does the job for you.
With massive increases in the data being generated and stored by student management and core applications, the data sets on which machine learning algorithms can be applied has significantly expanded. The deep learning capabilities in Unit4 Prevero take advantage of relevant information and help put it into context. The system learns in a similar way to the human brain. It memorizes learnings and applies them to new inputs. Organizations benefit from a multi-layer neural network that learns by example and improves the quality of its results over time.
“Organizations are only now starting to understand the huge potential digital infrastructure, AI and deep learning technologies can offer,” said Craig Schiff, CEO of advisory firm, BPM Partners. “New digital solutions can help them to manage large amounts of data for greater business insight, and machine learning and deep learning is a natural next step to uncovering insights that can drive competitive advantage. In a few years, finance teams won’t have to spend time on transactional tasks that don’t add value. Instead, they will focus on strategic priorities, supported by the data they need to make sound decisions that could change the course of business and deliver more and better opportunities for their organization.”
“AI, particularly neural networks and deep learning, is a game-changer for CPM,” said Matthias Thurner, CTO, Unit4 Prevero. “CPM is crucial today for higher education institutions undergoing digital transformation, where operational excellence is required across the board and change is the only constant. As organizations are redefined, we are seeing an evolution in what students and faculty members want and need from their systems: Ease of use, agility, high-quality insights and rapid value-creation to focus on delivering the best experience they can.”
About Unit4 in Education
From admissions to applications to alumni and beyond, our software in Education takes care of the routine tasks, so Admissions and Advancement leaders can focus more on what really matters: recruiting great students and ensuring their success.
We help over 1000 colleges and universities globally save time and money so they can focus on accelerating growth, boosting student success, improving institutional effectiveness and delivering research excellence. Clients include Oxford and Cambridge Universities, HEC Paris, University of Waterloo, American University of Paris, Robert Morris University, Baylor College of Medicine, Hult International, and University of Dubai.