Abstract
Online education is continuously evolving to enhance learning and reduce costs. In today's fast-paced world, technology is a driving force in education and business, making it crucial to understand the cost-saving benefits and efficiencies of e-learning. This requires careful planning and investment, similar to online business enterprises. Historical data can inform future strategies, but new information and process improvements are necessary to remain competitive. Aligning training with business objectives and evaluating business results are critical for success. Investing in online training benefits both learners and training professionals. Organizational learning capabilities can be tied to business values, and practitioners can learn about the key components needed to calculate ROI in a technology-driven 21st century. This chapter explores the importance of aligning ROI with training, business objectives, evaluating business results, and investing in online training.
TopFrameworks And Research
This study proposes a framework for the design and implementation of online learning environments that integrates several key elements, including social constructivism, instructional design principles, and educational technologies. As given by Gergen (2020), and Healy & Short (2021), using a combination of old and new frameworks in a study can provide a comprehensive understanding of a research topic. It allows researchers to build upon established theories while also incorporating emerging perspectives and technologies. This mixed framework approach can enhance the reliability and validity of research findings and contribute to the advancement of knowledge in the field (Gergen, 2020; Healy & Short, 2021).
Key Terms in this Chapter
Artificial Intelligence: Artificial intelligence is a rapidly evolving field that involves the development of intelligent machines that can perform tasks that typically require human intelligence. AI is being used in a variety of applications, including natural language processing, computer vision, robotics, and data analysis, and has the potential to revolutionize many industries. However, there are also concerns about the impact of AI on jobs, privacy, and ethics, and it is important for researchers and policymakers to address these issues as AI continues to advance.
Online Learning: Online learning refers to a mode of education where students use digital technology to access educational materials and interact with instructors and peers remotely. Online learning can take many forms, including video conferencing, webinars, online courses, and virtual classrooms. It offers a flexible and convenient way for people to acquire new knowledge and skills without the constraints of time and location. However, it also requires self-discipline and motivation on the part of the learner, as well as reliable internet access and digital literacy.
Education and Training: Education and training are essential for personal and professional growth, as they provide knowledge, skills, and experience needed to succeed in various fields. They also promote critical thinking, problem-solving, and creativity, which are important for innovation and progress. Moreover, education and training can enhance social mobility, reduce poverty, and foster economic development by preparing individuals for high-demand jobs and creating a skilled workforce. Additionally, lifelong learning is crucial in today's rapidly changing world, where new technologies and industries emerge constantly, requiring individuals to continuously update their knowledge and skills to stay relevant. Overall, education and training are key factors in improving individuals' lives and contributing to the progress and prosperity of societies.
Return-on-Investment: Return-on-investment (ROI) is a financial metric used to evaluate the profitability of an investment relative to its cost over a specified period. It is calculated by dividing the net profit of an investment by the cost of the investment, and is often expressed as a percentage. ROI is a key factor in business decision-making and is used to assess the potential benefits and risks of different investment options.
Technological Advancement: Technological advancement is a continuous process of innovation, improvement, and integration of new tools, techniques, and systems to enhance efficiency, productivity, and convenience in various fields. It has revolutionized the way we live, work, and communicate, and has opened up new frontiers for exploration and discovery. However, it also poses significant challenges such as ethical dilemmas, job displacement, and information overload, which require thoughtful consideration and proactive solutions. Overall, technological advancement has the potential to bring tremendous benefits and positive changes to society, but it requires responsible and sustainable development to ensure a bright and equitable future for all.
Cost of Investment: Cost of investment refers to the total expenses incurred in acquiring and holding an asset or investment. It includes the purchase price, transaction fees, taxes, and other related expenses.
Augmented Reality: Augmented reality is a technology that superimposes digital information onto the physical world, enhancing the user's perception of reality. It can be used in various industries, such as gaming, education, and healthcare, to create immersive and interactive experiences.