CONCORD, Mass.--(BUSINESS WIRE)--Gray Decision Intelligence (Gray DI), the leading provider of academic program evaluation software, today announced significant growth in 2023. SaaS revenue increased 38%, user counts exceeded 2,800, and user sessions rose 123%. Gray DI’s Program Evaluation System (PES) software now empowers investment in academic programs that drive student success and enrollment growth at over 150 colleges and universities nationwide.
Each year more higher-education institutions use the accurate, comprehensive data in PES Markets, Economics and Outcomes, and Predict Program Size to tailor their academic program portfolios from the associate to the graduate level. PES offers detailed insights into student demand, competition, job market trends, and essential skills for more than 1,500 programs. Even more, PES fixes significant inaccuracies in traditional data sources. For example, millions of online students are usually reported at headquarters location of the institution; Gray DI reports them in markets where these students live and study. Traditional labor data suppliers usually align programs with a handful of occupations; Gray uses empirical data from the U.S. census and a database of 70 million people to reveal the hundreds of occupations in which program graduates actually work. PES Economics and Outcomes provides a concise summary of revenue, costs, margins, and productivity across departments, programs, and courses, facilitating informed decision-making regarding program development and curriculum optimization.
Last year, Gray DI began rolling out AI features, including natural language query (NLQ) for PES Economics, which allows users to ask questions in plain English and get back the data and visualizations they need to make fast, informed decisions. Ultimately, provosts, deans, and other higher education decision-makers will be able to use NLQ for all of Gray DI’s data sets to quickly answer questions, predict results, generate visualizations, and write summaries. Currently in development and expected to go live this year, Gray is working on a scorecard-to-text AI tool that will allow users to create a text report from our data.
“As higher education continues to evolve, Gray DI remains dedicated to empowering institutions with the data and insights needed for strategic growth and sustainability,” said Robert Atkins, CEO and Founder of Gray Decision Intelligence. “We recognize the pivotal role of decision intelligence in providing precise, reliable, and accurate insights that empower institutions. Through our decision-support dashboards and integration of relevant data, we enable our clients to improve student outcomes, identify opportunities for growth, and boost enrollment.”
According to Gartner’s 2023 Hype Cycle report, decision intelligence offers the promise of targeted and personalized information. Effectively, it reduces decision risk and helps higher education institutions improve business processes. Gray DI’s goal is to use advanced technology and superior data to better-inform decisions by U.S. colleges and universities.
To learn more about how Gray DI’s solutions-based software supports higher educational institutions, visit graydi.us.
About Gray Decision Intelligence
Gray Decision Intelligence provides the best-available data and software to enable colleges and universities to make better-informed decisions. Gray DI’s software integrates data on program economics, student demand, employer needs, and competitive intensity for the precise market served by each institution. Faculty and administrative leaders use the software to score, rank, and evaluate programs in a collaborative process that builds consensus on programs to start, sunset, sustain, or grow. With Gray's tools and processes, institutions can identify opportunities to increase enrollment, revenue, and efficiency, while investing in their mission and strengthening relationships among faculty and administrators. Follow Gray on LinkedIn.
