Authors: Ioannis Chaniotakis, Barbara Myloni

Title: Student retention as a bond between Learning Analytics and financial benefits and the case of the Business Administration course of Hellenic Open University.

Abstract

We live in an era in which the demand for the educational institutes to incorporate business characteristics in their operation is more intense than ever. Societies, governments, private funds and whoever contributes financially in the operation of an educational institute ask for the best possible return on their investment done through this contribution. Thus, it is critical for the educational institutes to have good financial management.

To know and be able to improve the performance of a process, someone has to measure it. Learning Analytics (LA) is a relatively new concept - but rapidly evolving - that can be used to measure and improve the learning process. However, LA result also to financial benefits. The connecting link between LA and financial benefits is student retention.

The student retention analysis in the first cycle course of Business Administration of Hellenic Open University for the academic years between 2007 and 2018 showed big loss of tuition fees, due to the students that dropped out. LA can be used to improve the quality of education and detect students possible to drop out. The educational institutes and societies have financial benefits by helping students finish their studies, and LA can help to that direction.