How To Create an EdTech Solution that Drives ROI?
The Covid-19 outbreak has significantly disrupted the global economic scenario. Some sectors saw a negative impact, whereas others realized a massive increase in market capital and customer demand. However, the education technology industry was positively affected by the coronavirus pandemic, with a rise of 15% in the year 2020 alone.
The pandemic has made us realize the applicability of the technology in the education sector. EdTech experts believe that the increased accessibility of education has unveiled new learning opportunities for students worldwide. The increased availability has also democratized education for those students who can not afford hefty tuition fees to get a world-class education.
Coursera saw a rise in student enrollment with 10.3 million new registrations in the first thirty days of the Covid-19 pandemic. This is a 644% rise in comparison to the same period the previous year.
As the world has seen the goodness of implementing technology in the education process, they’ll continue to promote edTech, and we’ll see more and more students benefiting from edTech solutions.
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“Learning can take place anytime, anywhere.”
Factors to consider before developing your EdTech Solution
However, building software tools and applications for teaching is a very troublesome job. There isn’t any straightforward approach with which you can define your edTech platform architecture. Therefore you should know the following factors that are related to edTech in 2021.
Schools cannot afford many EdTech tools
Due to the rise in edTech solutions demand, there is a cut-throat rivalry between edTech businesses. Hence, it is essential for you to be sure about the edTech solution benefits that you bring to the table. High-quality educational content is the heart of every edTech solution, but what makes a solution more worthwhile investing into, is how it delivers the content.
Suppose your edTech solution is focused on providing educational institutes with the ability to streamline their processes. In that case, you should make sure that your solution helps the institutions in a manner that they won’t then need to make significant investment in other technology solutions that solve related problems. In simpler terms, your edTech solution should provide unprecedented value for the institution’s money.