The education industry, across all of its different types, is one of the largest sectors in the world economy.
Education is a critical instrument of human capital. It’s the means of the productivity and efficiency of a pool of workers who collectively contribute to a country’s economic growth. Ignoring education will endanger society and its future generation possibly leading to poverty and issues in sustainability. That’s why spending on education is becoming a top priority worldwide.
Additionally, the COVID-19 pandemic has greatly affected the education sector, disrupting traditional forms of education. This disruption is challenging industry participants to make changes to delivery methods and products in order to empower their students. The onus on institutions and schools to develop their educational technology (EdTech) and digital learning resources can be intimidating. We have experience working with institutions of higher education (IHEs), public school systems, community colleges, and private schools to support the development of long-term strategies to promote student learning and maintain retention.
Frontier has also worked with clients in the education industry to support their product development process and other business ventures that they can tap. We know what customers need from the software and hardware products they use every day, and can help you test consumer interest in new products and virtual services.
Want to Talk to us About the Education Industry?
I. Frontier Education Clients
The education industry provides educational services to students. The institutions in this sector can either be public, private, or non-profit. Right now, most educational organizations have realized that the “one size fits all” approach is not feasible as students come from different backgrounds and can excel in different things. This also means that different tools will appeal to different types of learners. This industry has evolved with the times, and today you can find a wide variety of educational options worldwide.
Frontier helps clients such as: digital learning software developers, institutions of higher education (IHEs–universities, community colleges, colleges), public school districts, business/training organizations, and digital course developers.
Clients who are looking to diversify their services and commit to growing their organizations come to us for expert consultations in the field.
What is the Education Industry?
The Education industry’s main objective is to provide education. This education is delivered in many ways. What was previously called an “alternative” form of education is the internet-based education. With technology revolutionizing the education industry, it can now offer more ways for people to consume information. In light of the remote teaching and learning orders due to COVID-19, online education is becoming more popular than ever.
Educators are now implementing other ways of teaching aside from being inside the classroom. Online learning can include everything—full-time school, tutorial center, daycare, music school, short-courses, and business training can be achieved using live streaming or video conference.
Additionally, there are universities who already deliver online courses that can be finished just over the internet. It’s interesting how technology is shaping the education industry today.
II. Types of Business Ventures for the Education Industry
With the help of technology, there are far more ways to introduce newer types of educational experiences to students.
Education has been a major focus of technological innovation. In the past decade, technology has helped the education industry pivot from traditional classroom setting to online. With the recent COVID-19 pandemic, it has become more apparent that digital learning is something that the society can perform. The pandemic paved way into creating ideas that reimagined how the education industry works.
However, there are still challenges that surround the education industry in terms of doing it completely online. Not all students and educators are well-versed into how technology works and there are students who learn better with face-to-face discussions.The hybrid model should not be discounted, but navigating this type of future can be challenging.
With each new technological advancement, education becomes more efficient, more convenient, and offers more opportunities to students. An institution in this industry must learn to adapt and utilize technology to produce the next generation of workers and leaders.
Frontier can support education establishments in branding and marketing. As we are now in the age of digital technology, digital marketing for schools, both traditional and digital, can result in a higher client base that will contribute to a much steadier growth.
III. Common Questions in the Education Industry
In education industry, Frontier is focused on helping clients who are concerned with the following areas:
- Which education has the highest return on investment?
- What is the purpose of the community safety education act?
- When looking to finance higher education, what is the best order to look for funding sources?
- What level of education is needed for economic growth?
- What challenges will I face in the industry?
- How do I integrate online learning?
- What is hybrid education? How do I offer hybrid education courses?
- What types of online and in-person resources do my students need to succeed?
- What types of digital learning resources are best suited for consumers?
- What business techniques don’t work in education?
If you are looking to revamp your educational offerings, thinking about planning for the future, or need to reassess what needs to be true for your students to thrive, Frontier can help you develop a strategic plan to explore innovative short- and long-term opportunities and analyze potential risks.
IV. Education Industry Standards
Businesses need to follow industry standards to be able to compete, and this same principle applies to the education sector. As more resources become available online, it’s important to maintain a level of quality to your offerings. Accreditation and partnerships to further student achievement post-course completion will go a long way to highlighting the impact of your program over competitors.
Education is a rapidly changing industry, and the next generation of students and graduates will face a different world from today. To effectively prepare students for this, educators must be on top of what’s the latest in the field and constantly find ways to provide students with the right tools.
- Common Core State Standards
- ISO and its National Standards Bodies (NSBs)
- ISTE Standards
- Accreditation process for online course offerings
V. Education Industry: Frontier Case Study
Frontier developed a five-year strategic plan for a urban public school district focused on implementing EdTech in the classroom, making data-driven decisions, and developing the digital ecosystem to support its 77 school sites, ~3,000 educators, and 40,000+ learners.
Frontier developed a competitive analysis and strategic plan for a leading US university interested in building out its online degree program. The project involved 80+ interviews with education software developers, educators, and consumers (students) to best understand capabilities/gaps within the current system. With this data—and the distinct vantage point to understanding customer-need—the Frontier team was able to create an online program that appealed to students, and used the best suited interfaces for each type of course. The support our client received throughout the operational aspect of the plan was essential to its success.