Education Technology Services
How data analytics is powering the edutech industry
Technology in education (edtech) is witnessing an unprecedented rate of growth. As of 2022, the global market for educational technology reached a valuation of USD 123.40 billion. Projections indicate that the market is poised to experience a steady annual growth rate of 13.4 percent from 2023 to 2030. The edtech industry comprises both hardware and software technologies that deliver virtual learning solutions to corporates and educational institutions, as well as to adult individuals and children. Edtech solutions make learning accessible to diverse groups of learners while catering to different learning styles. Artificial intelligence (AI), machine learning (ML), augmented reality (AR) and virtual reality (VR) technologies, and cloud computing enable powerful edtech solutions. The COVID-19 pandemic underscored the importance of virtual learning. Going forward, hybrid learning is expected to become the new normal, allowing students to experience the best of both worlds – online and offline. With corporates requiring employees to upskill and reskill, continuous learning solutions are the need of the hour. The increasing number of mobile devices is another driving force for the edtech market, which is no longer limited to offering solutions that can be accessed on just laptops or desktops.
In this melee, edtech companies have to keep pace with the demands of the market. Data analytics presents huge potential for the edtech industry. Leveraging data analytics will enable edtech companies to increase student engagement and provide customised solutions, while giving students the opportunity to pursue their learning goals in the best possible way.
The impact of data analytics on edtech
Imagine that you are sitting in a classroom where all the lessons are in Greek, while you speak only English. Or, the teacher is using notations that only a certain number of students can follow. Would you be bewildered? For many years, we have underestimated the importance of teaching students in a manner that they understand. This is largely because of the fact that, so far, it has been difficult to provide a customised learning environment for students, wherein you are aware of their learning style, and you have the capability to deliver the content in a manner that they would understand best. Edtech enables customised content delivery. However, how do you know the learning style of the student and deliver content appropriately? This is where data analytics can prove to be of immense use. With data analytics, edtech companies can develop the ability to gain insights into student learning styles, identify learning gaps, prioritise learning needs, and translate these insights into action by delivering hyper-personalised learning content to students in a manner that they understand best. For instance, data analytics can be used to assess how students engage with the course content and the consequent learning outcomes. This information can be used to improve course design and offer personalised learning to students. Data analytics can also help teachers improve content delivery. Insights into student learning styles and preferred modes of learning can be used to improve course content and pedagogy.
Analytics can also help identify learning gaps by analysing student scores on quizzes and tests. Teachers can utilise this information to delve deeper into topics that require more attention, alter course content and eventually improve learning outcomes. With data analytics, edtech companies can address the diverse needs of students. Immersive and interactive learning experiences increase student engagement. By analysing student performance, progress in academics and learning gaps, edtech companies can chart a roadmap for curriculum development and address student needs optimally.
Edtech companies can grow by leaps and bounds with the power of data analytics. For instance, analysing learner search data helps Indian edtech major Udemy identify courses that learners are interested in, and the topics that are trending. According to Irwin Anand, MD, Udemy India, the Marketplace Insights tool helps Udemy instructors find growth areas to develop new courses. Analysis of preferences and effectiveness helps deliver in-demand courses to learners at the right place and right time. Analysing student feedback and satisfaction and incorporating the analysis in course design and delivery leads to highly personalised learning paths. When students pursue customised learning which is based on their preferences, proficiency, and learning styles, they learn faster and it results in better retention. This leads to superior student experience and increased customer satisfaction.
Analytics solutions* empower edtech companies with data-driven insights and decision making. Companies achieve greater efficiency by investing time and money into creating relevant course material based on student preferences and demands. With an improved understanding of their customer base, edtech companies can create better products and services. The traditional one-size-fits-all approach to e-learning is now passé. Armed with insights from data analytics, the edtech industry is well-positioned to create an adaptive e-learning environment to deliver relevant material and high-quality experiences to students.
*For organizations on the digital transformation journey, agility is key in responding to a rapidly changing technology and business landscape. Now more than ever, it is crucial to deliver and exceed on organizational expectations with a robust digital mindset backed by innovation. Enabling businesses to sense, learn, respond, and evolve like a living organism, will be imperative for business excellence going forward. A comprehensive, yet modular suite of services is doing exactly that. Equipping organizations with intuitive decision-making automatically at scale, actionable insights based on real-time solutions, anytime/anywhere experience, and in-depth data visibility across functions leading to hyper-productivity, Live Enterprise is building connected organizations that are innovating collaboratively for the future.