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Tuesday, October 10, 2006

Corporate Education going online: Will reach $150 billion industry in 20 years

Online education is growing and growing quickly. Corporations and businesses are rapidly embracing the capabilities of the technology. Online Education offers a unique flexibility that can be embraced by businesses possibly more rapidly than in an institution of higher learning. Traditional educators have a desire to embrace technology. However, the instilled bureacracy at a college, university or even a high school might not embrace that technology or might have extra rigorous controls and purchasing requirements that are less willing to cut a loss in a failed program and move on to a better solution. Corporations, especially public companies, are often chastised for a short term quarterly outlook. This weakness can be a strength when it comes to benchmarking on latest trends and making rapid cuts in programs that do not live up to expectations. Business can therefore try new online programs somewhat easier and continue moving from a good program to a better program. This continued demand coupled with a continued need for a replenishment or improvement in programs could promote an accelerated growth in the industry. One of the key benefits of an online program is the extreme availability of diverse online course s. The list and availability of online courses is growing everyday. A business can cherry pick the right course for the right employee or division or section at the right time and the right price. Rolling out the program can similarly take place rapidly as well. The logistics of rolling out in person training is minimal. Trainers do not need to fly from one area of a country to the next. Training materials do not need to be shipped around or purchased. Most materials are available online. Evaluations and metrics are available and provided according to requirements as well, making documentation of Government required courses relatively easy to document and provide proof on demand.