As per a recent survey, the global EdTech industry is estimated to be worth $340 billion as of October 2023. That’s not all – the research further highlights the promising growth of this sector in the coming years. According to it, its market size will expand twofold, aiding it to emerge as a massive $605 billion industry by 2027.
This staggering growth of the EdTech sector is nothing unanticipated. In the previous decade, many radical developments occurred in this industry. As a result, EdTech products witnessed an impressive expansion in their scope and, thus, adoption.
However, no matter how remarkable a product is, in the lack of focused enhancements from time to time, it eventually succumbs to irrelevancy and inefficiency.
But the question is – is there any way to evade this shortcoming? Yes! By harnessing the power of data analytics, it is possible to dodge the cons of primitive educational products.
So, in this blog, let’s discuss how you can utilize data and data analytics for educational product development. Let’s begin!
Table of Contents:
I. What are Educational Products?
II. Barriers Obstructing Educational Product Enhancement
III. How Can Data Analytics Improve Educational Products?
- Identify Learning Gaps
- Improve Content Quality
- Enhance User Experience
- Aid Strategic Decision-Making
IV. Wrapping Up
What are Educational Products?
As the name suggests, educational products refer to the tools, items, and services required to impart education to students. Based on the form of education, these products can vary slightly in nature.
Traditional educational products that are employed in formal classroom learning include textbooks, classroom supplies (whiteboards, markers, paper, pens, and more), STEM kits, educational toys like abacus, etc.
In terms of online learning, the most common digital educational products include eBooks and digital textbooks created with the help of digital textbook platforms like KITABOO, Learning Management Systems (LMSs), digital study tools (e.g., flashcards), educational software, and more.
These products are used across a wide array of educational institutions, including schools, colleges, universities, private coaching centers, etc.
Barriers Obstructing Educational Product Enhancement
Today, the EdTech industry is swamped by a multitude of educational products. But let’s face it – lately, there hasn’t been any innovation that can be labeled as “groundbreaking.” So, what’s obstructing the advancement of educational products? Here are five of the top causes;
1. Limited Technology
To make acutely inventive enhancements to your educational product, you need to have equally advanced technology at your disposal. However, some geographic locations have severe technological limitations enveloping them.
This makes it nearly impossible to enhance the commodity. Moreover, a lack of other crucial resources like a competent workforce is another significant reason why educational product modification is hindered.
2. High Cost
Educational product development is expensive. To give you a rough idea, creating a basic educational app in 2023 can cost you anywhere between $10,000 to $50,000!
Now, for any additional modification, you will need to pump in another $100 – $500 into the product. And that certainly poses a challenge for startups in their initial phase.
3. Mediocre Content Quality
When it comes to a specific class of educational product like eBooks or digital textbooks, content quality is of supreme importance. But sometimes, a company may not have access to a top-notch content derivation source.
So, improving the quality of educational content becomes tough, obstructing seamless educational product upgradation.
4. Privacy Concerns
For the introduction of necessary enhancements in an educational product, you must either resort to online tools or seek assistance from a third party, like a freelance developer.
However, in both cases, the risk of data theft and mismanagement is high. Therefore, these privacy concerns prove to be another obstacle on the road of educational product revamping.
How Can Data Analytics Improve Educational Products?
Data analytics is the process of analyzing raw data to extract crucial information regarding it, such as the trends surrounding the data, future forecasts, and more.
By retrieving such details about an educational product, one can easily introduce logical enhancements to it. This, in turn, can help:
1. Identify Learning Gaps
For sound educational product improvements, it’s necessary to identify learning gaps and acquire knowledge on the aspects that need addressing. Data analytics foster that.
With the help of student performance data, you can easily spot the loopholes in your educational product and make changes so as to optimize its full potential.
2. Improve Content Quality
If you gather sufficient data on the efficacy of the content of your educational product, it will give you a quick bird’s eye view of what’s working and what’s not.
Through that, you can easily modify your content with the help of platforms like KITABOO and insert necessary quality-enhancing elements to make your educational product more engaging and efficient for learners.
3. Enhance User Experience
Whether it’s a Learning Management System (LMS), educational software, or simply an online course, user experience is an element that can’t be compromised.
One way you can enhance that is by leveraging data analytics. Conduct research, observe the ongoing user trends, and make the necessary amends to offer the best user experience to your audience.
4. Aid Strategic Decision-Making
Behind every warmly received product update lies thorough contemplation regarding its need, impact, etc.
However, in the absence of the correct data, it is possible to misread trends and make misguided choices, resulting in ineffective product modifications. So, data analytics also supports strategic decision-making for coherent educational product enhancement.
Wrapping Up
Optimizing the offerings of data analytics for educational product enhancement is a remarkable solution to avoid obsoleteness. In fact, if used judiciously, the churned-out data can also facilitate new product development, establishing you as a pioneer in the promising EdTech sector.
So, don’t wait further. Leverage the power of data analytics for developing and improving educational products and step into an era of advanced, efficient education.
In this regard, you can definitely leverage the advantages of a top-rated digital textbook platform like KITABOO. It encourages educators to create and publish interactive, multimedia-rich educational products like eBooks and digital textbooks in a flash!
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