One thing that jumps out at me from the Analyze Your Data module is the notion that improvement of existing programs and research for new programs are entertwined and inseparable parts of the same data analysis. Practically speaking, I think many of us envision those as separate processes or interpretations even if they use the same data (at least I have) and I like the notion of being holistically minded and not losing the forest in the trees. 

At my institution we advocate a "culture of data" and track and report on indicators similar to the ones listed as Institutional Data here. There are absolutely vital to strategic planning, not just for new academic programs but for every move the Institute makes. 

One challenge I've found is getting data from withdrawals or prospects who choose not to enroll. I'd love to have a more active pipeline into objections and reasons for withdrawals, but the usual instruments (surveys, phone calls, text messages) don't often work because those constituants have busy lives in which they've already decided my Institute doesn't… >>>

Job posting analytics and workforce growth projections can inform many of the skills and abilities an institution might develop with a new program. Another excellent source of information is schools with which an insititution already has articulation agreements. If another school has some two plus two programs set up, connect with their partnership directors and liaisons to see what other programs you can help your target students prepare to pursue. Remember, workplace skills are not the only necessary outcome of post secondary education; many of us help our students continue on to more advanced studies.