How custom content e-learning is transforming learning in the corporate world
The advancement in technology has played havoc on the lives of every individual, irrespective of the age, gender and race. No matter what you do, it is driven by technology. Even learning is also vastly affected by the latest technologies. The increasing numbers of people, not only find it reliable, but also think that electronic learning (e-learning) is also capable of keeping them updated with the present pace of growth. The National Educational Technology Plan developed by the US department of education has defined e-learning as the way to adjust to the growing pace as well as to keep the readers informed about the approach.
Personalization is quite a broader term than just individualization. E-learning offers the readers with a wide section of choices about what he want to learn, when he wants to learn and how it can be learned. Anyone and everyone can learn at their ease, if they are truly determined and focused. The learners also have the opportunity to learn in ways that suits their individual learning styles. More and more people are getting attracted to the e-learning, making it the latest trend.
A brief about Learning Management System
A Learning Management System (LMS) is actually a software application, especially designed for the administration, documentation, reporting and delivery of the electronic education technology, or the so called e-learning procedures. This software can manage the best solution as per the individual needs of the learner, which is again based on his performance. Most of the corporate training departments across the world are using LMS to deliver effective online training to their trainees. LMS is also used for the automated record keeping and employee registration. Personalization is what matters here most. The progress and the potential of each individual learner are taken into consideration, including their competencies, abilities and sensibilities. The use of LMS has increased to a great extent in order to reach a different level of cognitive excellence. Learning objective will be a lot different for each of the learner, the use of Learning Management System will further benefit the learning process.
The e-learning infrastructure
The sound infrastructure of e-learning delivers and manages the instructional content as well as identifies and assesses the individual and organizational learning or training goals, track the progress of the individual learner and presents data for supervising the learning process of the organizations. Apart from benefitting the learning process, the Learning Management System software is also known for handling registering courses, administration of the course, tracking and reporting the progress.
If we narrow down e-learning to its digital form also affects the personalized online experience of the individuals. Most of the education plans are focused on the approach of learning and not on the learner. It has become easy for the learner to personalize their learning needs. The important dimensions of e-learning include training workflow, the provision of on-line learning, on-line assessment, management continuous professional education (CPE) and training resource management.
Some statistics about Learning Management System
The incessant growth of the Learning Management System isn’t showing any signs of slowing down anytime soon. Increasing numbers of individuals, institutions and corporations are turning to e-learning as they recognize its effectiveness as well as convenience.
The global e-learning market is expected to reach $107 billion by the end of the running year, 2015. Reports are in favor of saying that global self-paced e-learning market reached $32.1 billion in terms of revenue, with a five year compound annual growth rate of approximately 9.2%, which means this e-learning industry, should generate $49.9 billion by this year.
Back in the year 2013, the LMS market was worth $2.55 billion in 2013. If we calculate by the compound growth rate of about 25.2%, the LMS market is expected to grow $4 billion in 2015. As per the reports, the highest contribution is expected to be generated from North America.
The worldwide mobile learning market is also growing exponentially, it is estimated that the mobile learning market will reach $8.7 billion by this year. Since the year 2012, the top buyers for the mobile learning products and services remains US, India, China, Japan and South Korea. The growing demands of the mobile learning services indicate towards the fact that more and more countries across the globe are equally interested in mobile learning.
Most of the large companies are the main buyers of the e-learning products and services. These companies make up roughly 30% of all e-learning buyers. It has become very important for the businesses to invest in e-learning procedures for the constant betterment of their employees as well as the organization. The multinational workforce is burgeoning, training them to upgrade their competencies have become important for the companies to stay ahead in the race. It is not just the multinational companies but the small and medium sized companies are also opting for e-learning. A recent report has confirmed that e-learning can eventually help companies boost their productivity by 50%. Each $1 spent in e-learning to upgrade the skills of the employees, lead to $30 of productivity.
The aforementioned statistics about e-learning technology is an indication towards the fact that e-learning industry is growing and it has tremendous potential. More than ever, even learners are also turning into e-learning courses online and prefer to attend the online trainings and workshop to work out their personal as well as professional goals. With e-learning, students have better control over their learning processes and can better understand the materials, which lead to a 60% faster learning curve as compared to the classroom based training.
Owing to the increasing demands of e-learning, every corporate are focused on the appropriate software training of their employees. This technology has not only simplified the learning and understanding procedures, but also make the learning procedures much easy and less time consuming. Technology has several contributions in making out lives easier, it has benefitted the education systems mostly across the globe within many cultures.