This case study describes the new Equivalent Full Time Students (EFTS) forecasting process that Knoware established for the Ministry of Education. The forecast takes into account a number of variables that influence the numbers of students that take up tertiary study
The EFTS forecast is used to allocate funding across the tertiary education sector, and for this reason attracts a lot of scrutiny.
The Ministry of Education particularly wanted improvements to their current forecasting processes.
Knoware documented a suitable best practice methodology for forecasting to be used and retained by the Ministry for future forecasting requirements. Knoware also worked to achieve a high quality, robust modelling process that can be both used and defended by the Ministry’s staff. An important innovation was ensuring that the new forecasting methodology is “software independent”.
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