University media stores often have a set time for assessing future equipment stock needs, usually only once before the academic year-end. A big reason for this is that, without analytical support, it takes a lot of time to figure out. However, with equipment scheduling software, this analysis can be carried out ad hoc whenever the need arises. Key stock taking and usage stats needed for business cases, funding applications and management meetings are a keystroke away. In this post, we look at why easy access to this data is so important and how media stores make use of it.
Connect2 provides essential resource utilization intelligence. It lets you see instantly how many times an item or category of equipment has been used in a given time frame, and the number of student users involved. With this data at your fingertips, it gives you much greater opportunity to invest in more kit when needed and, not least, get recognition for services when it’s due.
So how do institutions use this valuable data? Here are some examples shared by connect2 university customers:
- If a media store is finding there is not always sufficient capacity of equipment to meet student need, the data provided by connect2 is invaluable for including in a business case to purchase more. Simply put, it shows you how the store is coping with demand, and how often it is falling short, identifying which equipment items are heavily used
- Some media stores analyze reservation data by department, class or module. They report on how many times allocated resources have been used and the number of students benefiting in each case. One of our university customers shared the importance of publicizing when their high-end equipment items are helping to win awards for their institution or contributing towards improving student grades, highlighting the number of times they are being used within a class or program
- Many media stores run resource reservation services for all students irrespective of course or department. Sharing the usage data on this general lending activity helps get more funding each year to invest in equipment for everyone
- Some institutions convert the number of reservations for items during a semester into typical commercial hire costs for the types of equipment in question. This calculates a value for the resources provided which can be shared with senior managers. This data can also be used as part of a service review to calculate ROI for new kit purchased: money spent on new kit vs value to students
With connect2 equipment scheduling software you’re no longer confined to reviewing inventory towards the end of one academic year in preparation for the next. A thorough review can be made at the drop of a hat, at any time, to the advantage of your service and the students you support.
We hope you find the above examples of data use helpful and welcome you to share your further ideas on how such analysis can be put to good use!