Growth Potential For eLearning: 3 Areas Of Focus
At their best, eLearning platforms offer an efficient, cost-effective way to spread detailed knowledge on a variety of subjects to audiences that either couldn't access that knowledge before or, for whom costs made it prohibitive. In terms of societal outcomes, that's a pretty big positive. They are also, of course, business ventures, and finding ways to remain financially viable consumes much of the time operators spend on their future plans. The key to finding success within the industry is to find areas where business interests and broader societal aims (or industry objectives) converge. The good news is that there are currently a few opportunities for growth that satisfy those two often contradictory aims. Here's a look at 3 of them.
1. Medical Training And Credentialing
All around the world, developed countries are dealing with what is now a near-universal problem: rapidly aging populations. Part of that is due to the sheer success the medical profession has had in dealing with treating diseases and extending human lifespans. Now, however, the industry is becoming a victim of its own success, as larger and older populations are driving demand for skilled medical practitioners that traditional educational institutions are having trouble meeting. That presents an unprecedented opportunity for the eLearning industry, as it is best equipped to meet the scale of the demand. Already, eLearning courses are helping fill the need for medical personnel in places like Australia, where it's possible to earn nursing certifications up to nursing masters entirely online. It's a path that eLearning operators elsewhere should take a serious look at in the coming years.
2. Big Data And Analytics
Over the last few years, businesses everywhere have made data the centerpiece of their strategic planning and operations. To make it happen, those businesses have had to scale up nascent data science operations, all while competing for scarce talent in a field that almost didn't exist ten years ago. That demand isn't going away, either. IBM predicts a 28% increase in demand for data scientists in the next two years alone. Already, big eLearning platforms are warming to the task of preparing a whole new generation of data scientists to get to work, and there's so much growth in the industry that there's plenty of room for more platforms to offer big data coursework. The best bet for smaller platforms is to pick a niche within the big data field, like data cleaning and preparation, and focus on becoming the go-to destination for newcomers to the field.
3. Artificial Intelligence
A quick look at the headlines in just about any newspaper around the world should make clear that Artificial Intelligence is one of the hottest technological developments to come along in decades. Survey after survey reveals that business leaders across several industries are expecting AI to revolutionize the way they do business in the very near future. The major problem is that businesses are having trouble finding people with the skills to make it happen. eLearning platforms are very well-suited to teaching such skills, and in the coming years, the development and deployment of AI systems is sure to cause a surge in the need for people who are qualified to deal with them – first to create and refine the technology, and then to maintain it once it's in production. This is also an area that will help eLearning platform operators as well, as further developments in AI technology are expected to augment their systems, further lowering operating costs and helping to scale up courses beyond currently achievable levels.
Opportunities Abound
These are but a few of the high-growth areas of focus that eLearning platform operators can focus on to achieve significant gains to their bottom lines in the coming years. The most important thing to note is the fact that these are also opportunities that won't evaporate soon, as they're being driven by demographic and technological changes that are going to remain in effect for the foreseeable future. That means that they're an excellent basis upon which the core of eLearning businesses can be formed. Moreover, this basis should help to provide financial stability in an industry where competition can be fierce.
That also can provide operators with the breathing room to explore additional underserved markets and subjects, and try out ideas that haven't been explored by other eLearning platforms. In the end, that's how the industry as a whole will find permanent footing and growth well into the future and deliver on the promise of providing useful, accessible, and effective education to learners everywhere in the world.
