As governments scramble to contain the coronavirus pandemic, more and more people are being advised – and in some cases obliged – to stay at home. This includes employees, school children and university students.
But things aren’t grinding to a halt. Instead, businesses and educational organizations have gone digital. And this widespread action is just one example of a much broader shift.
The rise of eLearning platforms, whether in the form of popular course websites or online student areas with lecture replays, seems to be an unstoppable trend. In this post, we’re going to take a look at five specific ways that eLearning is shaping the business and education sectors.
The eLearning industry is growing at a breath-taking pace
eLearning is any form of teaching delivered using electronic technology, most often via the internet. And few sectors have seen faster growth. The eLearning market is expected to exceed 240 billion by 2023.
This growth is driven by a range of factors, including efficiency gains for companies and benefits for students. Sometimes necessity is also a factor, as everyone will know from the last few weeks.
Here are five key points to keep in mind:
1. eLearning drives business efficiency
Companies that opt to train employees using eLearning platforms see a number of benefits. Studies have shown that online learning requires up to 40% less time than in-person training and that eLearning programs lead to significant productivity gains.
There are many proposed reasons for these outcomes. In particular, employees are free to consume materials in their own time, review and re-watch lessons, and can engage with interactive elements. But whatever the causes, the corporate and educational benefits are undeniable. In one study which asked companies if eLearning had led to increased profits, nearly half answered yes.
2. Schools and universities are embracing eLearning
Educational organizations are also integrating eLearning into their programs and syllabuses. Notably, distance learning has grown significantly in popularity over the last few years, with more students enrolled in programs than ever before.
Digital course materials have enabled universities to cut costs, making programs available to a wider audience while giving students the freedom and flexibility to work when they want.
3. It enables organizations to make data-driven improvements to course materials
eLearning platforms allow organizations to collect fast, reliable data about employee and student progress in a way that isn’t possible with traditional methods. Crucially, this makes it possible for teachers to identify individuals that may be struggling and intervene early.
Analytics tools also enable course creators to see which training materials are working effectively; both in terms of engagement and learning outcomes, and which are falling short. This ability to pinpoint poorly performing content and test alternatives makes it possible to make incremental, continuous improvements.
4. eLearning has a large consumer market
eLearning’s market share isn’t limited to the corporate and educational spaces.
Udemy, Masterclass, Lynda.com – all are examples of business-to-consumer eLearning platforms. The popular market for self-contained, low-investment courses is continuing to grow. And many online course companies have received tens of millions of dollars in funding.
5. It leverages cutting-edge science to enable faster, more effective training
eLearning is at the forefront of educational sciences. Many platforms and course creators are starting to leverage techniques like gamification, quizzes, progress-tracking and more.
Studies have shown that these kinds of strategies lead to better learning outcomes like increased engagement and higher productivity. Course builders are able to take advantage of a range of technological tools to “tune in” into human predispositions. Thereby bolstering motivation, retention, and performance in ways that otherwise wouldn’t have been possible.
Interested in a career at the forefront of business?
eLearning is just one of many innovations shaping the corporate and educational space. If new technologies like this excite you, then a career in business is an option worth considering.
But whether you’d like to pursue a career in tech or have something else in mind or starting your own business, an online program can help you to achieve your goals.
Interactive Online Learning From EU Business School
At EU Business School (EU) we offer a range of online programs, from bachelor’s to MBAs, to accelerate your career. We’re at the forefront of distance business instruction, providing sector leading degree programs to students around the world.
Our expertise in providing an online learning experience that is second-to-none has been recognized by CEO Magazine for six consecutive years; our Online MBA remains #1 worldwide, assessed on a variety of aspects including class size, international diversity and quality of faculty, among others.
Students at EU’s online campus learn through live interactive webinars, group projects and business simulations. Our acclaimed lecturers offer real-time personalized tutoring from around the world. And programs are accessed on Moodle, the world’s leading eLearning platform. It is easy-to-use and offers an interactive environment where students are able to work and learn together. EU’s online student experience is as much about community as traditional, on-campus learning. Our online students work alongside peers from around the world, developing an international professional network that will help them to stay ahead in the dynamic business world.