A Look at the Education Industry in the Digital Economy
Just like every other industry, the education sector is constantly evolving to keep up with the demands of the digital economy. Currently there are two types of players in the education industry: Large enterprises, which use legacy systems, are well-established and dominate the market; and the small to mid-sized businesses focusing on niche areas. The rate of change in the digital economy is faster than most people expected, and the bigger players are struggling to catch up with the rate of transformation happening in the industry. They already have the market presence, and they find it very difficult to change. But, small to mid-sized companies that are about three to four years old are ahead in digital transformation and mastering the right foundation. They develop products with responsive design; use new methods like gamification, new cloud platforms, etc. They are moving ahead rapidly compared to their larger counterparts – and are the “disrupters.” If the larger enterprises gain the ability to move away from legacy dependent platforms by the click of a few buttons, the entire game changes, but the reality is a bit different.
A legacy player for instance, already comes with a number of e-learning platforms and their traditional way of working is to create a platform and take advantage of their large customer base / market. However, if a new entrant in the market works top-down and creates something that appeals to the tech savvy across all ages, then the newer generation would prefer this modern platform to an older version. It is a disruptive market, which the big names in the industry have to acknowledge and adapt to quickly. “It is better to be the disrupter than be disrupted.”
An experienced partner will increase chances of success while minimizing risks…
When it comes to looking for an ideal partner, companies want organizations that have the domain expertise and are proven enablers of digital transformation and share the same passion of accelerated growth. Partners like Ness possess an understanding of the market having worked with different players in multiple sectors, and hence, we quickly notice common patterns and trends. We have the maturity to understand these changes, and the Ness “Connected Framework” enables us to look at the whole picture from an end-user perspective and create something rapidly in a structured and agile fashion – making us more responsive to market needs. We are equipped to help reduce the impact of digital disruption on legacy players and also able to help the newer players get to the market even faster.
