The World Bank has created the EdTech Readiness Index (ETRI) to manage and monitor education technology policies and practices worldwide. The index has six pillars and five takeaways. The five takeaways govern how countries can implement resilient edtech policies. The pillars guide the practices to ensure the execution of those policies effectively. The tool is designed to facilitate schools to make informed edtech implementation decisions to maximize equitable learning opportunities.
This establishes a baseline for edtech companies to follow and deliver. To accomplish the same, edtech firms must focus on strategically implementing disruptive technologies to achieve implementation goals and provide value across all aspects of the digital education ecosystem.
Challenges of EdTech Software Development
A significant challenge that EdTech companies and decision-makers face in implementing digital technologies is getting stuck in the software development cycle. While their primary expertise and focus is identifying and incorporating the most effective edtech solutions, software development derails them from their goals. This leads edtech strategy to take a back seat while managing software development, upgrades, and inefficiencies occupy attention.
The result is proficiency gaps in the software domain and a need for cutting-edge technologies to deliver transformative learning experiences impact the quality and efficacy of the efforts of these businesses. At the very least, it prevents companies from being first movers and capturing market share.
Rethinking EdTech Implementation
The edtech market is projected to grow at a CAGR of 15.52% from 2021 to 2027, reaching $605.40 billion by the end of the forecast period. To tap into this opportunity, edtech companies need a pragmatic shift in their approach to delivering on-time digital learning solutions. To begin with, they must identify their software requirements and then leave the development and management to the experts.
Leveraging the expertise of a technology provider saves time, effort, human resources, and expenditure that would otherwise go into building an in-house team. Incorporating the latest tools with agility into the existing tech stack becomes imperative. Moreover, the software may need upgrades, system capability extensions, or encounter bugs. Maintaining a separate team diverts the leadership’s attention from achieving business goals.
The best practice, therefore, is to involve a technology expert to take care of all software-related business needs. MagicBox™ is a leading edtech technology facilitator with over 30 years of experience developing edtech solutions with advanced feature integration capabilities. The experts are adept at translating real-world requirements into software features and delivering them as plug-and-play tools.
MagicBox has dedicated teams to care for software evolution, technology upgrades, and execution errors that may hinder the effective implementation of education technology. In addition, their comprehensive set of content authoring, learning management, assessment, and reporting tools comply with regulations across multiple regions and facilitate convenient API-based integrations with leading platforms.
Prioritizing EdTech Strategy
An edtech business relies on its adoption volume for revenues. Adoption can be boosted via effective product design, marketing, implementation, and curating customer journeys to ensure economies of scale. These require the use of industry data and analytics.
EdTech software solutions by MagicBox are equipped with ready-to-use features, analytics, and user management capabilities. They offer leadership teams insights into user behavior, technology efficacy, curriculum goals, and more. These features can assist in developing strategies to accelerate adoption and boost ROI.
Benefits of Partnering with an EdTech Technology Expert
With stakeholders and decision-makers freed from software concerns, the focus can be shifted to the more pressing strategic requirements of the education industry. This leaves time and mind space for crafting and implementing online education strategies, such as:
- Fostering a culture of equitable and inclusive education while ensuring the achievement of learning goals.
- Identifying learner and education gaps to modify learning content, curriculum, pedagogy, and technology to fill those gaps.
- Encouraging the adoption of digital teaching and assessment tools to improve education delivery.
Making the Most of Technology
The ideal application of education technology is when educational institutions and edtech firms work together to facilitate the achievement of learning outcomes with a DEI. While educational institutions are more focused on curriculum design and expanding their outreach, edtech stakeholders must strategize the optimal use of technology to achieve the common goal. They must work towards innovative ideas and accessible mechanisms to allow users at all levels to leverage the opportunities created by edtech. This also calls for a focus on assessing and advising software development teams to facilitate mechanisms where diverse users can effectively interact with the digital learning ecosystem.
The future of edtech awaits the use of:
- IoT devices to simulate virtual classrooms
- Blockchain technology to hold students accountable for homework
- Machine learning to create personalized learner journeys
EdTech companies can focus on strategic growth only when they can sidestep the complexities of software development with ready-to-use MagicBox™ features. Contact us now for a live demo of how our industry-leading solutions help you focus on edtech strategy.
