Using Big Data to Analyze Training Effectiveness
Professional development and training needs vary across financial organizations, but a culture of continuous and effective learning is important to enable consistent growth. By understanding the skill level of your talent, organizations can embrace emerging business opportunities and adapt to evolving industry needs.
Today, training may involve a range of tools and processes including an e-learning platform, on-site training, instructor-led events, and even long-standing traditional methods of studying print material. Regardless of the method, for your employees to be able to suitably improve their job performance, and retain what they have learned long-term, it becomes inevitable to measure their performance during the entire training process. A poorly planned training program, which does not measure and track throughout the stages of learning, will not only eat into your budget and time, but will add little value to the training effectiveness of your employees.
“We test and train people to lend money more effectively. Our customers are very numbers driven and they want to find out what their lenders know and what they don’t know. A financial institution’s goal is to increase the knowledge of their lending staff, and we provide the right analytics and reports that helps our customers meet this training goal,” stated Richard Beaumont, Director- Learning Technologies.
To conclude, if you are a financial institution that is unable to identify company-wide skill gaps, you must invest in a training program that uses data, metrics and analyses the knowledge level of your lenders against that of others at similar organizations.
Our Training Effectiveness Benchmarking Reports below lay the foundation for financial institutions to assess and compare the quality of their credit professionals on an on-going basis, in a systematic way. Using industry benchmarks, institutions can apply a quantitative measurement to their staff’s skill level. The data in our reports demonstrate the skill improvement observed by Omega Performance at client organizations by comparing test results before and after training.
The results can be viewed for the following courses:
|Business Lending Fundamentals||Commercial Loans to|
|Commercial Loans to Small Business|
|Commercial Real Estate Lending||Financial Accounting for Lenders||Consumer Lending|
|Understanding Personal Cash Flow|