September 23, 2015
Online learning platforms are becoming increasingly popular, and businesses are quickly jumping on board with the trend. With the convenience and affordability of operating from the cloud, online learning platforms help businesses keep their employees up-to-date with the latest industry trends and information, while also keeping skills sharp.
The learning management system (LMS) market was worth $2.55 billion in 2013. It is estimated to reach $4 billion by the end of 2015, and more than $7 billion in 2018, with a 25.2% annual compounded growth rate. The highest revenue contributions are expected to come from North America.
An estimated 8% of businesses were using massive open online courses (MOOCs) in 2014 in their corporate training efforts, with an additional 7% saying they are experimenting with their use. It’s estimated this number will reach 28% of businesses by 2018. The uptake is highest in the public sector, with 42% of companies using MOOCs in their training.
Among different technologies, LMS dominates, with 74% of companies surveyed in 2014 saying they have implemented such technologies within their organization, compared to just 25% that reported using a content management system (CMS). According to the 2014 Training Industry Report, 44% of companies plan on purchasing online learning tools and systems at some point in 2015, and 41% intend to invest in LMS.
Cloud services have made it accessible for even small businesses to engage their employees – and even their customers – through online learning. Here are a few examples.
PrestoExperts is a cloud-based learning platform focused on making experts in a number of subject areas accessible for consultation. Topic areas include business, education, and technology, among others. Business users can for example, keep their development skills sharp with computer science tutoring. The platform can also be used by “solopreneurs” and small businesses who have expertise they want to share.
Khan Academy is a free online learning platform. It offers mostly an educational and academic course selection, but has topics on business, finance, and programming, as well. The majority of the lessons available are delivered in video format, which is an excellent option for visual learners. Businesses can use the video libraries to help employees brush up on a number of skills.
TalentLMS is an online learning management system well-suited for both enterprise and academic settings. Businesses can use it to train staff members, although the platform also works well in training customers. The free plan works for up to five users, 10 courses, and comes with a 20 MB per file upload limit. Premium plans support more users, courses and space.
Litmos LMS is a robust learning platform that can be used in various areas of the business — not just in HR. Litmos can address employee learning and training, compliance, customer training, channel training for your contractors and partners. It can also be used for onboarding new customers.
Inquisiq R3 LMS
Inquisiq R3 is a learning management system that aims to make corporate training easier. It integrates with a number of other HR systems to keep operation simple. The system works with a high level of automation, including automatic email reminders and notifications. And, if you need to issue certificates to show completion, the system allows for customizable certificates to be issued with ease.
WiZDOM LMS is available in several product configurations, which support a range of organization types and sizes. The cloud variant is designed specifically for small and medium sized businesses, with highly customizable features and modules to ensure each business builds a product they will love to use. Plus, users have the option to go mobile with apps for iOS and Android.
Investing in a learning management platform can help your business in several ways. For example, it can manage and track all staff training efforts with real-time evaluations. LMS platforms are incredibly customizable and flexible, so they can be molded to create a solution that works well for your company, regardless of industry.
Ultimately, because the LMS provides a centralized learning environment, you’ll reduce training costs and be able to take a glance at the progress of the company as a whole, or a certain employee. Cloud systems are scalable to grow as your business grows, and affordably priced accordingly. Learning platforms are not just limited to the academic setting. Businesses can benefit from skills enhancement and productivity improvement, as well.
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