The education and learning analytics industry is growing exponentially with the upswing adoption of advanced technologies across the education sector hiking the need for data-driven decisions to enhance the quality of education.
George Siemens, Writer and Theorist, divides the learning analytics industry into the following levels and their beneficiaries as per the following table.
According to a report by Reports and Data, the Education and Learning Analytics Market is expected to reach the valuation of USD 55.83 Billion By 2026. Analytics is interpreted as the process of developing insights, application of statistics, and analysis with the help of existing data. From this perspective, learning analytics can be defined as a process in which the problem definition, data, and insights are learning-related, connecting existing educational research for learning analytics to interpret and enhance the learning process.
In 2016, a joint research study by New Media Consortium and EDUCAUSE Learning Initiative identified six areas of emerging technology that might impact higher education and creative expression by 2020. As a result of this research, learning analytics was defined as an educational application of web analytics to accumulate and study individual student interactions in online learning activities.
Academic end-users, i.e., educators, tutors, and academic institutions, are expected to be the largest adopter of education and learning analytics solutions in the future. Education and learning analytics enable educators to apply analytical techniques to formulate curriculum strategies to help students according to their requirements, for example, 3D visualization techniques and smartboard video lectures, among others. The academic end-user segment is divided into K-12 and higher education, with higher education growing as a significant adopter of education and learning analytics solutions. These end-users utilize these solutions to analyze the behavior of students, identify patterns, and make data-informed decisions related to the progress of the students. Higher education institutes are anticipated to gain high revenues during the coming years. The curriculum development and intervention management sector is expected to grow at the highest CAGR during the coming years.
The increasing prevalence of e-learning technologies such as mobile learning devices, lecture capture, student information systems, and learning management systems (LMS) has enabled the education sector undemanding access to lumps of data related to teaching and learning applications. While these techniques are being used in the education sector to enhance the efficiency of conventional education systems, the enterprise sector is also executing these techniques to augment and develop the workforce.
The performance management sector remains the major implementation in the education market, as institutions across all sectors acquire some form of performance assessment tools to calculate the overall performance of the enterprise. The market is segmented into software and services. Professional services and managed services help enterprises build successful client relationships throughout the business tenure. The enterprises segment is expected to witness high growth over the coming years. The banking sector is speculated to expand due to the adoption of performance assessment tools, primarily attributed to the growing use of core banking systems that assess digital credit for customers based on their profile. Core banking systems also inculcate increased transparency in the banking system. Additionally, the public sector is anticipated to witness the growing adoption of education & learning analytics solutions due to a surge in the deployment of analytics software by governments all over the world.
Some of the key players in the education and learning analytics market are IBM Corporation, Blackboard Inc., Microsoft, D2L Corporation, Micro-Strategy Inc., Saba Software, Oracle, and Tableau Software, Inc. Product launches, mergers & acquisitions, and collaborations are some of the leading business strategies adopted by these leading players for the expansion of the business in the market. For example, in March 2019, Blackboard, Inc. joined forces with Higher Education of Brasilia, a Brazil-based higher education center, where the organization leveraged the company’s offering Blackboard Learn to provide an online platform to their students and further improve their academic results.
In a nutshell, the inculcation of education & learning analytics solutions in the academics sector is expected to witness remarkable growth due to an increase in the modernization of learning systems. Learning analytics allows access to interactive and easy-to-analyze live statistics regarding the learner and helps work on the areas of improvement. Growing awareness of the following benefits is anticipated to be the driving force behind the adoption of such analytics techniques in academics and other sectors in the near future.