The past few years have seen a boom in Online Education as the preferred mode by universities and students alike. Earlier only traditional methods of imparting education were available, which required students to invest time and effort in a full-time program, thus keeping them away from the job market. However with the advent of technology and internet, many educational institutes are providing specializations in PGDM and MBA via the online medium.
Industry Size and Distance Learning Benefits
According to a recent study by Google and KPMG, the current size of the industry is $247 million and will have an 8x growth by 2021, with an estimate size of $1.96 billion. Traditional B-Schools are turning obsolete as Online Education provides the same curriculum with additional benefits of affordability, convenience, personal pace of learning and most importantly not losing an employment.
The Users of Online Education
Education industry consists of a wide range of students from top metro cities as well as rural areas. A study revealed that ‘education searches’ on search engines are 44 % higher in rural towns beyond the top 6 metro cities. The curriculum is customized to meet the needs of the student community and offer several multiple specializations, suiting individual professional goals. Additionally, the program benefits housewives who may have briefly been away from the corporate world, remotely located students who now have faster access to management programs and young employees who want to upgrade their skills
Some universities are providing hybrid models that is basically a mix of Online Learning as well as Personal Contact Programs / Doubt Solving Sessions held ahead of exams. While the others facilitate Virtual Classroom sessions with messengers to solve problems on the spot. Universities offer placement support both domestic and international to provide end to end solutions to a student’s journey. Some companies are even starting unique businesses with the help of technology. There are mobile apps to prepare a user for entrance tests as well as the Video Giant YouTube hosts several tutorials, that are lending huge monies to creators.
In comparison to traditional management programs, online courses are reasonably priced. Offering the same quality education at a convenient time and personal learning pace.
The money saved can be invested in other professional certifications. Example a value added certification in Digital Marketing for a Marketing Student.
Improve Job Prospects
Management students get an opportunity to be placed in high-level positions that pay well. Industry knowledge and case-studies add credibility, thus increasing the chance at employment.
Universities are embracing the reach and power of the internet and utilizing the medium to the fullest. Students and parents are flocking towards the new age learning techniques. The nation is rapidly adjusting to the boom of technology and using it for their best interests