There are many key performance indicators (KPIs) for an online school, depending on the specific goals and objectives of the institution and education provider. However, here are 30 important KPIs that can generally help assess the success and effectiveness of an online school:

1. Enrollment Rate 

This KPI is a fundamental metric reflecting the effectiveness of the school's marketing and outreach endeavors. A higher enrollment rate means more revenue and a larger student base, contributing to the school's financial stability and growth. This KPI counts the number and percentage of students who enroll in online programs or degrees each academic year or term.

How to track: Google Analytics to track website traffic and conversion rates, marketing automation tools to manage enrollment campaigns.

2. Student Engagement Rate

This indicator reflect the effectiveness of the school's instructional strategies and interactive elements. This KPI assesses the level of interaction and participation of students in online courses, such as through discussion forums, quizzes, assignments, feedback. High engagement rates demonstrate effective course design and delivery, contributing to better learning outcomes.

How to track: LMS analytics, discussion forum participation tracking.

3. Student Retention Rate

This is a pivotal KPI showcasing the school's ability to cultivate student loyalty and satisfaction. A high retention rate underscores the institution's capacity to deliver a rewarding learning experience, reducing the need for constant marketing to attract new ones, saving resources and improving the institutional reputation.

How to track: LMS reporting features to monitor student activity and engagement, student satisfaction surveys.

4. Student Satisfaction Score

This invaluable feedback metric offering insights into students' contentment with the school's academic offerings, instructional methods, and support services. Satisfied students are more likely to recommend the school to others, leading to increased organic referrals and higher enrollment rates. This score can also bolster the school’s brand loyalty.

How to track: Online surveys and feedback forms, social media monitoring tools.

5. Student Success Rate

This KPI demonstrates the school's effectiveness in supporting students and meeting their educational goals, leading to increased trust and positive reviews. A high student success rate reaffirms the school's commitment to personalized support and academic excellence.

How to track: LMS analytics, post-course assessments, and student outcome tracking.

6. Student Progression Rate

This KPI is essential in gauging the school's ability to offer engaging and progressive educational pathways. Higher progression rates indicate effective program structures and the ability to keep students engaged and motivated to advance their education to higher levels.

How to track: LMS tracking features, course sequencing and prerequisites.

7. Student Demographics

This KPI collects and analyzes the demographic characteristics of online students, such as age, gender, location, ethnicity, etc… Understanding student demographics helps tailor courses and marketing to meet specific needs and interests as well as aligning the school's vision with learner needs.

How to track: Student surveys, enrollment forms, demographic analysis tools.

8. Faculty satisfaction

This KPI gauges the degree of satisfaction and happiness of faculty members with their online teaching experience, such as through surveys, ratings, reviews, feedback.

9. Faculty Development

This KPI examines the extent and quality of professional development and training opportunities for faculty members to enhance their online teaching skills and knowledge.

10. Instructor Evaluation

Consistent instructor evaluation informs ongoing professional development initiatives and fosters pedagogical excellence. This allows identifying effective instructors and areas where improvement or support may be needed.

How to track: Instructor evaluation forms and surveys.

11. Course Completion Rate

This KPI calculates the percentage of students who successfully finish an online course or module within the expected time frame. High completion rates demonstrate the school's commitment to delivering relevant and compelling content, fostering a positive impact on the overall student experience, leading to positive word-of-mouth and increased student success. 

How to track: LMS reporting features, course analytics, and student feedback surveys.

12. Course Feedback Rating

This KPI is an assessment tool capturing nuanced student feedback on individual courses. Understanding specific course feedback helps school identify strengths and weaknesses, leading to continuous improvement in course design and instructional approaches to meet the evolving needs of its learners.

How to track: Course evaluation surveys, discussion forums, and course-specific feedback forms.

13. Course Quality

This KPI assesses the quality and relevance of online courses or modules, such as through curriculum design, learning outcomes, content delivery, assessment methods. It ensures that course content remains relevant, up-to-date, and meets students' needs, contributing to better learning experiences, improving overall student satisfaction.

How to track: Content quality assessment surveys, content version control.

14. Course Completion Time

It helps identify courses that may be too time-consuming or not challenging enough, informing curriculum adjustments.

How to track: LMS analytics, time-tracking features.

15. Course Availability

This KPI measures the availability and accessibility of online courses or modules, such as through scheduling flexibility, technical support, learning platforms, etc…

16. Website Traffic

This KPI is a critical barometer of the school's online visibility and brand recognition. Robust website traffic augments the school's potential to reach a broader audience and garner heightened interest from potential students. Higher website traffic increases brand visibility and the likelihood of attracting potential students.

How to track: Web analytics tools like Google Analytics, SEO tools, and social media monitoring.

17. Average Time on Site

An essential web analytics metric gauging user engagement. A prolonged average time on site signifies captivating content and a user-friendly interface, fostering deeper connections with visitors. Longer average time on the website indicates engagement and interest, increasing the chances of conversion.

How to track: Web analytics tools, session tracking, and heatmaps.

18. Conversion Rate

This is a pivotal KPI revealing the efficacy of the school's enrollment process and the appeal of its digital presence. A high conversion rate demonstrates the school's ability to inspire prospective students to take decisive action in their educational journey. A high conversion rate suggests that the school's marketing efforts and website are appealing and compelling to potential students.

How to track: Google Analytics, Marketing automation and CRM tools, A/B testing for website optimization.

19. Cost per Acquisition (CPA)

This KPI is an insightful financial metric that measures the efficiency of the school's marketing investments in acquiring new students. An optimized CPA aids in allocating resources effectively to maximize enrollment returns.

How to track: Marketing analytics tools, cost-tracking software.

20. Customer Lifetime Value (CLV)

This strategic KPI reflects the long-term value of nurturing student relationships.v Understanding CLV guides decisions about investment in student support and retention efforts.

How to track: Customer relationship management (CRM) systems, data analytics tools.

21. Churn Rate

This indispensable measure of student attrition, providing insights into areas requiring improvement or targeted support. Minimizing churn rate fosters a thriving and loyal student community.

How to track: LMS analytics, student feedback surveys.

22. LMS (Learning Management System) Usage

This is a crucial assessment of the platform's adoption and effectiveness. Monitoring LMS usage empowers the school to optimize the digital learning environment for better user experience and student engagement.

How to track: LMS reporting and analytics features.

23. Support Response Time

This critical metric measures the school's commitment to student support and service excellence. Prompt support response time fosters a positive learning environment and reinforces student trust. Quick and helpful support services contribute to a positive learning experience and student satisfaction.

How to track: Ticketing systems, live chat support tools.

24. Dropout Rate

This KPI is a key metric uncovering potential challenges faced by students and areas necessitating intervention. Identifies challenges students face and areas where additional support might be required to prevent dropouts.

How to track: LMS analytics, student surveys, and feedback forms.

25. Revenue Growth Rate

This is a pivotal financial metric reflecting the school's overall business performance and market success. Robust revenue growth validates effective strategies and prudent financial management.Tracks the school's financial health and expansion over time, indicating overall business growth.

How to track: Financial reporting and analysis tools.

26. Revenue Per Student

This KPI computes the total revenue generated by the education provider for each online student enrolled in a program or degree.

How to track: Financial reporting and analysis tools.

27. Cost per Course

This essential financial gauge manages course development and maintenance expenses. Understanding cost per course facilitates cost optimization and informed investment decisions. It helps manage expenses related to course development and maintenance, ensuring cost-effectiveness.

How to track: Cost-tracking software, budgeting tools.

28. Return on investment (ROI)

This KPI compares the total revenue and cost associated with online education to determine its profitability and efficiency. A positive ROI means the e-Learning program is generating value for the organization.

How to track: Financial reporting and analysis tools.

29. Referral Rate

This KPI is a testimonial of student satisfaction and advocacy. A high referral rate showcases the school's ability to inspire positive word-of-mouth and attract new students organically. High referral rates indicate satisfied students who advocate for the school, leading to organic growth.

How to track: Referral tracking systems, social media monitoring.

30. Social Media Engagement

Social media provides a platform for interacting with students, addressing concerns, and promoting the school's offerings.

How to track: Social media management and monitoring tools, engagement tracking.

31. Alumni Network

This KPI measures the size and strength of the network of former online students who maintain contact and connection with the education provider.

These KPIs collectively provide a comprehensive overview of the online school's performance, enabling data-driven decision-making to enhance educational offerings, student experience, and overall business growth. As the education landscape evolves, regularly monitoring and analyzing these KPIs will help the school stay competitive and meet the ever-changing needs of learners. 

To collect and track the key performance indicators (KPIs) for an online school, an institution can employ various tools and methods. Here are some possible methods:

• To gather data on enrollment rate, retention rate, course completion rate, and student success rate, the school can utilize its Learning Management System (LMS) to monitor student activity, course progress, and achievements.
• To measure student satisfaction and course feedback rating, surveys, questionnaires, and feedback forms can be administered, and the collected data can be analyzed using survey tools and data analytics platforms.
• Website traffic and engagement rates can be tracked through web analytics tools such as Google Analytics, which provide insights into visitor behavior and interaction with course materials.
• Social media monitoring tools can be used to measure social media engagement and track student demographics, while marketing automation or customer relationship management (CRM) tools can help monitor lead generation, referral rates, and cost per acquisition.
• Financial reporting and budgeting tools can assist in tracking revenue growth and cost per course.

By implementing these tools, the online school can efficiently collect and track relevant KPIs, enabling data-driven decision-making to enhance its overall performance and growth. Some new generation learning platforms like Ucademy have integrated these essential trackers in order to  enable online schools to generate insightful analysis that are vital for their growth and sustainability.