Why The Popularity Of LMS is Growing In Business?

By Education Technology Insights | Monday, July 06, 2020

eLearning attract the learners as it is an exciting way of learning and also improves the learner experience by providing different ways to train, so several companies are adopting it to leverage the LMS.

FREMONT, CA: Learning management system (LMS) is gaining popularity day by day, and is adopted by several growing businesses. eLearning attract the learners as it is an exciting way of learning and modern technology also improves the learner experience by providing more ways to train. It can do several things for users like it can maintain record data, make calculations, and handle much of the other work that used to consume hours of administrator, supervisor, or trainer time.

Here are some reasons for adopting eLearning to update learning management system of a company:

• The eLearning Market is Projected to Reach $325 billion by 2025

The eLearning market is expected to reach $325 billion by 2025. If more money is invested, it will bring more products and features, and it will continue to improve. There’s enormous potential already. That will increase as the market continues to grow.

• eLearning Increases Knowledge Retention Rates to 25 percent to 60 percent

On the other hand, eLearning can create knowledge retention rates of 25 percent to 60 percent. But as per reports of the Research Institute of America, traditional in-person training results only in about eight percent to 10 percent knowledge retention. Efficiency is essential for most of the business, and that’s not very efficient from a business perspective.

• 96 percent of Americans Own a Smartphone

 According to the Pew Research Center, more than 90 percent of Americans own a mobile phone, and 81 percent own a smart device. Almost all the LMS platforms offer mobile learning solutions that give employees the ability to train from anywhere. Many millennial expect this feature when considering employment. New technologies attract the best job candidates, so companies need to offer the latest technology.

• All-inclusive Training Programs Can Generate 218 percent More Revenue

 A survey conducted by the American Society for Training and Development found that companies with comprehensive training programs earned 218 percent more revenue per employee compared to those that do not. They also had a 24 percent higher profit margin. eLearning provides a low-cost solution with substantial earning potential.

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