Predicting Training’s Value
When we predict training’s value, we use a form of business forecasting—estimating what training will deliver in terms of increased organizational and business results. These predictions come in the form of participant Intentions, Adoption in the workplace, resulting Impact on the business, and the costs to deliver the value. These predictions enable decision makers to make highly informed, proactive decisions.
As with any business forecasting method, predicting training’s value has benefits and drawbacks that need to be weighed before proceeding.
The benefits of predicting training’s value include:
- It aids in decision making (whether a business should move forward with training).
- It provides input, allowing for smarter, more strategic decisions about planning and resource allocation (people and budgets).
- If data is high quality, it can create an accurate picture of the future.
Its drawbacks are:
- Data is not always reliable or accurate.
- Data may be outdated.
- Qualitative data may be influenced by peer pressure.
- External factors may be out of the business’s control (e.g., economic policy, competition, and political developments).
The Impact Matrix - the Output of Predicting Training's Value
The Impact Matrix is a rectangular array of Intention goals & beliefs, Adoptive behavior examples, business results, and external contribution factors that, when combined using certain rules, predict the Impact from training. It’s usually created by a Steering Committee of subject matter experts and key decision makers, drawing a direct link from training to business impact. Watch the What is Predictive Evaluation? archived webinar on how the Impact Matrix is created and used.
Sample Impact Matrix for a Business Acumen Training Course
ROI of Training