UNDERSTANDING THE VALUE DASHBOARD
DASHBOARD OVERVIEW: HOW TO USE THE VALUE DASHBOARD
WHAT IS THE VALUE DASHBOARD?
The CSM Value dashboard is a tool that provides 12 industry-standard value metrics to help CSM's craft a meaningful value story and weave value attainment into every customer interaction. Consider the dashboard as ingredients that can be used in your customers measurement strategy recipe. Not all metrics will matter to all customers - showing your customer all the metrics at once will be overwhelming and will detract from the value story you are trying to tell.
DOES THE VALUE DASHBOARD WORK FOR ALL CUSTOMER DEPLOYMENTS?
Usage activity from Skillport, OLSA and Percipio is included in the value dashboard. Activity from ACM/Percipio Compliance, Global Knowledge and Vodeclic is not included.
WHICH OF MY CUSTOMER SITES ARE INCLUDED IN THE VALUE DASHBOARD?
The value dashboard pulls activity from all Skillport, OLSA and Percipio sites associated to your customers contract. We have filtered out Sandbox, Test Sites and Preview Sites. You can see the associated sites used in the value dashboard calculations by clicking on the "VIEW SITE LIST" link.
WHAT IF SITES ARE MISSING FROM THE "VIEW SITE LIST" LINK?
Review the sites section within the “Account Details” tab in your LCAM and confirm what site(s) are associated with your customer. Check within the Contract Info tab to see if you have “Ignored” any contract lines that are associated to the missing site(s). If there are no ignored contract lines, and the site is listed under the account details tab, please reach out to CSOps@skillsoft.com and we will investigate.
WHAT IF I WANT TO SEE THE DASHBOARD FOR ONLY A SPECIFIC SITE/SITES?
You can do a Custom Run and select only the site(s) you would like to include.
WHERE IS THE ANNUAL CONTRACT VALUE BEING PULLED FROM?
This is pulled from "Account Details" tab in your LCAM, it excludes SumTotal contract lines.
WHAT DO I DO IF THE ANNUAL CONTRACT VALUE FOR MY CLIENT IS WRONG?
Check the "Contract Info" tab in the LCAM to ensure all current contract lines are present and that you have checked the "ignore" checkbox on any lines you are not responsible for.
WHAT IF I WANT TO USE A DIFFERENT ANNUAL CONTRACT VALUE FOR MY CUSTOMER? (EXAMPLE: PERHAPS YOU WANT TO EXCLUDE COMPLIANCE, OR USE THE ACV FOR ONLY 1 SPECIFIC SITE OR PORTION OF THE CONTRACT)
You can input a specific contract value in the Custom Run Options.
WHAT CONTENT IS EXCLUDED FROM THE VALUE DASHBOARD ACTIVITY?
Custom Content, ILT, Scheduled Content, Linked Content, Videos (Percipio only) and ACM/Percipio delivered compliance content is excluded. If you want to include custom content, you have the option to do so in a Custom Run.
WHAT DATE RANGE IS THE ACTIVITY IN THE VALUE DASHBOARD?
The dashboard consists of activity for the current calendar year. (Ex: January 1st, 2021, to the most recent full month of the calendar year). It is updated mid-month (around the 15th) for the month prior.
WHAT IF I MY CLIENT HAS A DIFFERENT CONTRACT TERM? WHAT IF I NEED A DIFFERENT DATE RANGE?
No problem! The Custom Run Option allows you to select a custom date range to meet all your various contract start dates.
WHAT IS THE MAX LICENSES FIELD?
The “max licenses” is based on the largest number of licenses purchased by your client for the calendar year, excluding compliance collections. It is only used to determine which benchmarking group your customer belongs to and is not used for any other metric. It will be updated at the start and end of each year. If you need it updated at any other point please reach out to the CS Ops Team.
WHAT IS THE BENCHMARK GROUP FIELD?
The benchmark group is the bucket that your customer falls into based on their “max licenses” value. It is used to identify which benchmarks to appear when the "Benchmark Filters" is set to "Show".
**NOTE** Newly added dashboard metrics will NOT have benchmarking data available.
HOW ARE THE BENCHMARKS CALCULATED?
The benchmarks are based on usage from the previous calendar year. They will be updated annually. The benchmark values are compiled by calculating the averages of each value metric from all customers who fall within the benchmark group license size and who have usage data in the previous calendar year. The benchmark groupings are:
- 1,000 - 4,999 max licenses
- 5,000 -9,999 max licenses
- 10,000 -24,999 max licenses
- 25,000 - 49,999 max licenses
- 50,000 + max licenses
WHAT ARE THE TREND FILTERS?
The trend filters are customer-specific and will show you the variance (increase or decrease) of the current dashboard metric compared to your customer's data in the last full calendar quarter, or the last full calendar year (provided your customer has data for the last full quarter or year).
To view the trending, select either Quarterly or Yearly in the Trend Filters section.
Click on each metric to view the pop up which explains whether the trend has increased or decreased for that metric.
**NOTE** Newly added dashboard metrics will NOT have trending data available.
WHAT ELEMENTS CAN BE EXPORTED?
- Metric Pop-Ups: Clicking on each of the metrics will provide you with a definition. If you have included the trend and/or benchmark filters in your main dashboard, they will appear in the pop-up along with your customer's current result. You can take a screen shot of the pop-up and incorporate it into any customer presentation!
- Impact One-pagers: Clicking on the hyperlinked impact title will open a 1-pager infographic that can be exported as PDF. If you have included the trend and/or benchmark filters in your main dashboard, they will appear in the 1-pager along with your customer's current result. You can use the impact 1-pagers in monthly meetings, or to send as a meeting follow up!
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PowerPoint Presentation:
You can generate a PowerPoint presentation with slides for each impact, plus additional value details.
If you have included the trend and/or benchmark filters in your main dashboard, they will appear in the slides along with your customer's current result.
PRO TIP:
Do not deliver all the slides to your customer at once, it will be overwhelming. Instead, choose a couple of impactful slides to weave into various customer engagements.
DASHBOARD METRIC DEFINITIONS, SUGGESTED USE CASES, AND TALK TRACK
LEARNING IMPACT METRICS
Weave any of the learning impact metrics (Including Trending and/or Benchmarking metrics) into your data review meetings. Leverage the 1-pager for a monthly check in meeting agenda item!
REGISTERED LEARNER PARTICIPATION RATE
This metric is NOT demonstrating license consumption. It is showing the rate of participation (the percentage of learners who have accessed Skillsoft content) based on the total number of eligible learners (registered learners in an active status) who could access content (i.e., they are in an active status on the LMS).
It is calculated by taking the total number of unique learners accessing content from all the included sites divided by the total number of registered learners in an active status across all included sites. The number of learners who have accessed content is in brackets.
**NOTE**
Registered learners in an active status is a better overall representation of the organization’s number of learners able to access content, rather than max licenses purchased. Many clients have multiple contract lines with a different number of licenses for each collection.
We cannot allocate a learner to a specific collection and would skew license consumption by only showing the total number of learners who accessed content, divided by the max licenses purchased. Also, license consumption is defined differently across our platforms, and we needed a standardized way of calculating the participation rate. Therefore, we used active learners for this percentage calculation.
This metric demonstrates the reach that the program is having across the registered employee population. Another way of thinking of the registered learner participation rate is that XX% of your active registered learners have accessed content. If the number is low, consider it a conversation starter to discuss user management, or position it as a positive - "Wow, 23% of your registered employees have already accessed training in the first half of 2021!" and use it to have your customer set a participation rate goal for next year.
RETURNING LEARNER RATE
This metric is calculated by taking the number of unique learners who have accessed content on 2 or more distinct access dates, divided by the total number of participating learners.
This metric is a great indicator of a continuous learning culture within the organization. Another way of looking at this metric is the “One-Time Offender” rate – meaning the percentage of learners who have only accessed the program once, consuming a license but have not yet come back. (The “One-time Offender" rate would be the percentage difference of the returning learner rate.) This is a great conversation starter to target marketing, communication, and promotion ideas to entice these learners back to the program.
AVERAGE HOURS PER LEARNER
This metric is the average number of hours that each participating learner has spent accessing content. It is calculated by dividing the total number of participating learners by the total hours spent accessing content by all learners, during the reporting date ranges.
This metric is a great way to help your customer measure program adoption, at a per learner level. It allows your customers to see the average amount of time a participating learner spends accessing content per Learner. The peer benchmark will show your customer the average hours of their peers, allowing them to establish a goal for their own program.
AVERAGE BADGES PER LEARNER (Percipio Only Metric)
This metric is the average number of Digital Badges earned per participating learner. It is calculated by dividing the total number of Digital Badges earned by the total number of unique learners that have earned a badge, during the reporting date ranges.
This metric is a great way to help your customer measure the average number of badges earned, at a per learner level. It allows your customers to see the average number of Digital Badges earned per participating learner. The peer benchmark will show your customer the average badges earned of their peers, allowing them to establish a goal for their own program.
Digital Badges are visual, shareable, and verifiable records that represent a learner's accomplishments of learning. Learners can share their badges in email or social media platforms, such as LinkedIn, Facebook, or Twitter. This is a great way to for organizations to support their employees’ professional social networks and helps the learner accelerate a professional brand.
BUSINESS IMPACT METRICS
Weave any of the business impact metrics (Including Trending and/or Benchmarking metrics) into your mid-year CBR, or when planning program marketing, curation, and promotional strategies. Leverage the 1-pager for a monthly check in meeting agenda item!
APPLICATION RATE (Percipio Only Metric)
This metric is retrieved from your customer's learners responses to the question "Going forward, how likely are you to apply what you have learned to your job?", from the Content Evaluation Report in Percipio. The Application rate is the sum of the "Very Likely" and "Likely" responses to this question during the dashboard reporting date range.
This metric is a great way to introduce your customer to program effectiveness measures, shifting mindsets away from only adoption as a measure of success/value. A strong application rate indicates their program is effective at upskilling, reskilling, and teaching critical on-the-job skills that the learners need in their daily roles.
If you want to discuss the Scrap Learning Rate with your customer (the percentage of learning NOT applied on the job, take the application rate subtracted by 100), allowing you to consult with your customers on strategies to increase on the job application of learning, reducing the scrap learning rate.
COURSE NET PROMOTER SCORE (Percipio Only Metric)
This metric is retrieved from your customer’s learners responses to the question “on a scale of 0 (extremely unlikely) to 10 (extremely likely), how likely are you to recommend this course to others? from the Content Evaluation report in Percipio. The nps score is the percentage of detractors (those who answered 0-6) subtracted from the percentage of promoters (those who selected 9 or 10), responses during the dashboard reporting date range.
This metric is a great way to demonstrate the learners overall satisfaction of the learning program content. It measures program effectiveness (learner reaction & satisfaction) of the learning and the detailed slide provides insight into how many learners are program detractors, passives, and program promoters. Remember, anything higher than 1 is a positive NPS score.
AVERAGE SKILL BENCHMARK SCORE (Percipio Only Metric)
This metric is your customer’s average benchmark score across all completed skill benchmark assessments. It provides them with a baseline proficiency level in which they learners are currently operating, across all skills. To calculate this metric, we sum the average score for each user/skill benchmark and divide it by the total number of skill benchmarks completed.
This metric is a great way to introduce and/or reinforce skill benchmarks to your customer. It provides their current organizational average proficiency level across all skills. Use the detailed slide for insight into your customer's top 3 novice skills (based on the skill(s) with the greatest number of novice learners), and their top 3 most proficient skills (based on the skill(s) with the greatest number of proficient learners). Use these insights to drive discussion for assigning, promoting and benchmark re-assessment follow up on critical skills.
- Use the value dashboard trend feature to measure the Improved average benchmark score over time for your customer, and to see the variance Quarter or Quarter and/or Year over Year.
- The peer benchmark will show your customer the average benchmark score of their peers, allowing them to establish a goal for their own program.
NUMBER OF CERTIFICATION PROGRAMS ACCESSED
This metric is a count of the unique certification prep programs accessed by your customer's learners. Skillsoft offers 104 certification paths. Download the business impact 1-pager or generate the detailed slides to see your customer's top 10 most accessed certification programs.
A high number of certification programs accessed demonstrates an appetite for either maintaining or obtaining an industry certification. Chat with your customer about what certification programs are important to them and ensure they are easily accessible to the learners.
FINANCIAL IMPACT METRICS
Weave any of the financial impact metrics into your renewal planning meetings or end of year CBR. Remember – financial benchmarks are not to be shared with your customers due to too many variables such as enterprise pricing, deep discounting, multiyear agreements, etc. Leverage the 1-pager as a follow up to your renewal meeting.
ESTIMATED COST SAVINGS WITH SKILLSOFT
This metric provides you with the estimated amount of money your customer has saved by partnering with Skillsoft rather than the alternatives.
This is calculated by adding together the estimated cost of 3 alternatives and then subtracting their annual Skillsoft investment (ACV). The alternatives are:
1.) Sending 25% of their participating learners to another online alternative at $400 per person (2021 average market cost of other online alternatives),
2.) Sending 25% of their learners from their Top 10 most accessed certification programs to another certification prep provider (usually the Certification vendor) and
3.) The cost of purchasing their accessed books in hard copy. For more details on the estimated cost savings calculations, generate the PowerPoint presentation (the speaker notes outline the calculations).
**NOTE** If you have a negative cost savings, it simply means that the cost of the 3 alternatives do not yet outweigh their annual Skillsoft spend.
It does not mean that your customer is not receiving value. Work with your customer on driving overall program adoption - the more learners who access content, the better the financial impact will be.
If you want to show a soft ROI percentage, take the estimated cost savings, and divide it by your customer's ACV and multiply by 100 (to convert to percentage).
This metric is great for demonstrating the financial benefit of partnering with Skillsoft.
ESTIMATED ALTERNATIVE CERTIFICATION PREP COST
This metric is showing how much it would cost if your customer was to send 25% of the learners from their Top 10 accessed certifications to another certification content provider.
Generate the detailed slides to see your customer's top 10 accessed certifications, and a link to each of the alternative providers.
**NOTE** We use 25% of the learners because we know that not every certification content learner is truly seeking an industry certification.
AND to ensure cost conservatism, we are basing this alternative cost on only the top 10 accessed certification programs, not every cert program accessed by your customer.
ESTIMATED ALTERNATIVE BOOTCAMP COST
This metric is showing how much it would cost if your customer was to send 25% of the learners from their Top 10 accessed bootcamps to another provider.
Generate the detailed slides to see your customer's top 10 accessed bootcamps, and a link to each of the alternative providers.
**NOTE** We use 25% of the learners because we know that not every bootcamp learner is going to attend a bootcamp from another provider.
AND to ensure cost conservatism, we are basing this alternative cost on only the top 10 accessed bootcamps, not every bootcamp accessed by your customer.
ESTIMATED COST OF HARD COPY BOOKS
This metric provides how much it would cost if your customer was to purchase a print copy of each accessed book for each accessing learner. Our Business Intelligence team provides us with a monthly books price list (current retail price of the books in our Skillsoft collections), and we use your customers true books usage to calculate how much it would cost.
This metric is a great one to share with customers because it is not assumption-based. It is taking the actual retail value of each book and applying it to your customer's true books usage. If the estimated value of hard copy books is not very high, work with your customer on driving books usage - a book club, mobile app access, audiobooks, etc.
COST PER LEARNER
This metric is one that will resonate with most of your customers. The cost per learner is calculated by dividing your customer's Annual Contract Value (ACV) by the number of learners accessing content. The more learners that access content, the lower your customer's cost per learner will be. A lower cost per learner indicates better value attainment. Generate the detailed slides to see your customer's current cost per learner, as well as their projected cost per learner (the cost per learner if your customer achieves the projected annualized learners projection from the dashboard) - challenge your customer to reach this target, or to set a goal they would like to reach by the end of the contract year.
This metric is so beneficial as a value story component. "For less than $XX dollars per year per participating learner, you are providing them access to thousands of management & leadership titles (Or insert collections/topics here), helping your employees reach their personal and professional development goals. WOW!!"
DEFAULT DASHBOARD SETTINGS
WHAT ARE THE DEFAULT DASHBOARD SETTINGS? HOW ARE THEY USED?
The monthly Dashboard calculated by Ops is considered the Default Dashboard. There can be cases where certain sites (and their associated Contract Value) should be excluded from the monthly Value Dashboards. To do this the CSM can use the Optional Default Dashboard Settings page/form to set the ACV and sites to be used in the Default Dashboards.
When Ops Calculates the Monthly Dashboards, the process will take a look at the Default Dashboard Settings to see if there is an ACV or Sites listed. If there are then only those sites and that ACV will be used for the Account's Value Dashboard. If there is not an ACV and/or Sites listed then the process will pull the ACV and associated Sites from the LCAM.