Learning businesses don’t exist in a vacuum — they’re driven by the needs of the society around them.
Right now, we’re in the Fourth Industrial Revolution. Technology is fundamentally changing the way we live, work, and relate to one another. Not surprisingly, the way we learn is also changing.
Today, we’re experiencing a 10X moment like Andrew Grove describes in his book, Only the Paranoid Survive. We’re going to see changes of an order-of-magnitude greater than anything we’ve yet experienced.
So what are the technologies, the concepts, and the business models leading such a 10X change in the learning industry? There are 5 trends summoning the next wave of digital transformation.
It’s easy to think of classroom-based learning as a default. But professional training can be divided into three categories — on-the-job, social, and formal. In the past, eLearning firmly fit into formal education. Today things have changed. On-the-job training becomes digital when you embed learning materials directly into software. And social learning happens daily over messaging apps.
At last, we’re seeing that digital is driving all of learning — not just formal, but social and experiential as well — and that shift has opened up the market 10X.
🔎 Handpicked for you: 5 Key Factors Driving Digital Transformation in Professional Learning [e-book].
As learning goes digital, organizations have access to rich data that they never had before in the analog world. However, many organizations get stuck collecting data instead of using it.
These companies need to quickly get into the second phase of deploying data insights back into their learning models.
I have three predictions for how data insights will revolutionize learning programs.
First, content creation will become much cheaper because you will only need to create the required materials. With trustworthy data at your fingertips, you can focus on creating only the content that actually drives the learner behaviors and outcomes you want to see.
And speaking of outcomes, my second prediction is that learning mastery will become easier as data highlights your learners’ needs. You will receive real-time data from your users on where they are getting stuck, where they need more support, and what’s helping them stay engaged. And they will get in-the-moment feedback on what’s building their knowledge and confidence so they can learn faster and better.
My final prediction is that innovation will pick up speed because data shows us exactly where to innovate. Meaningful change is easier to make when you know where your opportunities lie.
Innovating a business model requires the kind of extensive feedback that’s only available with high-quality data.
At BenchPrep, we see nearly all of our customers experimenting with their business models in order to grow.
The top opportunities for learning businesses to digitally transform their business models include:
You have to experiment. Then, as a leader, you will need the clarity to focus and conviction to persevere.
🔎 Check out other innovative business models in our ebook, "Dreaming of Recurring Revenue? Engage Learners Continuously."
Video conferencing technology isn’t new. But the COVID-19 pandemic accelerated this trend. Now everyone has experienced working online, building relationships online, and even exercising online.
And this level of scale and commercialization that video conferencing has harbored since the pandemic took effect will yield much better innovation over the next 18 to 24 months.
From a mindset perspective, learning organizations and associations have begun to fully embrace video conferencing. Now, it’s time to take it to the next level and make video conferencing a key component of your blended learning strategy.
Two macro trends are making upskilling an economic imperative. First, the half-life of skills now sits at 5 years. Second, people are retiring later. They want a unified learner experience that allows them to upskill continuously.
As you ride the next wave of digital transformation, don’t lose sight of what matters the most: your learners’ experience and success.
You’ll want to think of the learner journey in its entirety and create a unified experience. Developing a data strategy and growing your learning ecosystem are the two top key ingredients in being able to fulfill this journey.
Technological limitations have held organizations back on their digital transformation journeys. Instead of one key piece of technology, you’ve been forced to invest in unwieldy tech stacks.
At BenchPrep, we want to make your digital transformation dreams come true, not give you tech headaches.
Our goal is to work with you to create one learning ecosystem. All your learning tech will be in one place: you’ll have everything from a content management system to go-to-market enablement tools, all including robust data analytics built right into the platform.
Get ready to take the next step in your digital transformation and request a demo.