By Cole Clark, Global Vice President, Education and Research Industries, Oracle
It’s no secret that higher education is in the midst of a massive transformation. The cost of education is skyrocketing, debt levels among college graduates have climbed to $1T+, and the pressure to improve outcomes by tying performance to funding is intensifying. Everywhere, students are expecting more for their money. They want a highly-personalized experience, and all the support they need to succeed – both in the classroom and in the workforce.
And campus leaders, too, are under pressure. They’re being held accountable to operate efficiently and embrace fiscal stewardship at unprecedented levels. Their resources are scarce, and aligning them on the core mission of the institution is more important than ever before. And what campus leaders are realizing is that their current operating model, one that relies on traditional sources of revenue such as tuition and public funding as the primary sources of revenue, is no longer sustainable. It’s clear that institutions must undergo a significant transformation, one that requires new ways of thinking, new processes, and new technologies.
To support this transformation to new business models, campus leaders worldwide are increasingly looking to cloud technologies with contextual insights to help them innovate – to modernize their systems and processes and accelerate their transformation to a Modern Campus. And while its true technology plays a large role in this transformation, equally as important are the best practices that support this transition to a Modern Campus. By fundamentally changing the way institutions do business, campus leaders can improve business performance by doing more, in less time, with fewer resources. And these new business models and disruptive technologies – supported by Modern Best Practice – are what fuel growth and innovation across campus.