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< Back International Banking by Tarun Natarajan International banking is a complicated system that comprises of multiple structural subgroups, each of which performs a specific role. This study will be on the unique characteristics of international banks and the wide range of duties they perform. INTRODUCTION In general, the world banking system is separated into two categories: domestic and international banks. International banking is a complicated system that comprises of multiple structural subgroups, each of which performs a specific role. The focus of this study will be on the unique characteristics of international banks and the wide range of duties they perform. To begin, the foreign banking system will now be contrasted to the domestic banking system in order to identify the major contrasts. In addition, the organisation of global financial markets, as well as the spectrum of instruments traded there, will be explored. Furthermore, the many types of exchange rate exposure that multinational firms confront will be examined in order to recognize and quantify the risks involved. CONTRASTS BETWEEN INTERNATIONAL AND DOMESTIC BANKS The main contrasts between international and domestic banks must be identified. They set themselves out from the competition in terms of customer service. To begin with, "international banks organise trade finance for their customers to permit imports and exports," but "local banks provide just for cross-border business." Second, international banks provide for foreign exchange, which is necessary for cross-border transactions and investments, but domestic banks do not offer this service. Another distinction is the types of deposits that banks accept, as well as the loans and assets that they make. While domestic banks conduct business in the local currency, the bulk of international banking institutions borrow money and lend money in the Eurocurrency market, which comprises of deposits held in banks located outside of the countries that issue the currency in which the deposits is held. Internal banks are also governed by laws of the state in that they are located, but global banks are governed by the laws of both their home country and the countries where their branches are located. UNITED STATES' USE OF INTERNATIONAL BANKS The grounds on which the USA uses international banks can easily be defined based on the aforementioned disparities. For starters, foreign banks facilitate global transactions and investments, which is critical for the majority of businesspeople. Second, people traveling to foreign countries frequently use the branches of multinational banks. Another important issue would be that the international banking program enables the United States government to invest in the world market and grow as a country. Furthermore, international banks meet the needs of multinational organisations by lending big sums of money while posing fewer risks. INTERNATIONAL FINANCIAL SYSTEM STRUCTURE As previously stated, the international financial system's structure is extremely complicated, as evidenced by the many different types of international markets. They include the previously mentioned Eurocurrency market (mainly Eurodollars), this same international bond market (which includes foreign securities, Eurobonds, global bonds, equity-related, and dual currency international bonds), and the international stock markets. The Eurocurrency market operates on an interbank level, and so it runs concurrently with the financial institutions of the countries that formed the currency. The foreign bond market offers bonds to foreign investors, with the primary distinction being the currency with which they have been denominated. The instruments are typically portrayed as debt or equity, with the other reflecting a share of the responsibility or ownership. International banks as well as international financing syndicates offer enormous sums of money to multinational firms, as previously stated. These funds are used for their own economic and social development, project funding, and investment. However, the foreign exchange process is frequently vulnerable to a number of negative impacts that might result in a variety of negative outcomes, including default. To put it another way, international exchange exposure occurs when the value of a company's future cash flows is determined by the value of foreign currencies. Multinational firms' performance is heavily reliant on transactions and investments conducted outside of the native financial system due to their nature. Multinational firms are exposed to several hazards due to the fluctuation of exchange rates. There are several ways for evaluating those odds, the most famous of which is the Moody's creditworthiness rating model. This concept allows multinational firms and international lending syndicates to foresee possible negative outcomes and avoid losses. CONCLUSION This paper provides a basic overview of the international financial system. First, the contrasts between domestic and international banks were examined, and the United States' the use of international banks was outlined based on the findings. The architecture of the world economy was also taken into account in order to represent the complex nature of its parts in a concise manner. It is also clear that the international financial network is influenced by a wide range of factors. Those elements, which indicate difficulties relating to foreign exchange exposure, were also described. Finally, it is critical to note that international banking is amongst the most often used economic vehicles. Previous Next

< Back Finance, Banking and the Economy at large by Divyes Chakravarty Gain an understanding of how money, banking and the financial system intersect and work. The different concepts, principles and intricacies of money and more. Macroeconomics: Macroeconomics is the branch of economics that studies the behaviour and performance of the economy as a whole. It focuses on aggregate changes in the economy such as unemployment, growth rate, gross domestic product and inflation. Macroeconomists employ aggregate measures such as gross domestic product (GDP), unemployment rates, and the consumer price index (CPI) to analyse large-scale consequences of individual decisions. The two main areas of macroeconomic research are long-term economic growth and shorter-term business cycles. Microeconomics: Microeconomics is the study of individuals, households and firms' behaviour in decision-making and allocation of resources. It generally applies to goods and services markets and deals with individual and economic issues. Microeconomics studies how prices are determined in the marketplace. Manufacturers and customers initiate forces that we term them as supply and demand accordingly and it is their interaction within the marketplace that devises the price mechanism. It is also known as Price Theory as it deals with the determination of the price of commodities and factors. Financial Systems: A financial system is a collection of institutions which allow the exchange of funds, such as banks, insurance companies, and stock exchanges. The financial system exists at the corporate, national, and global levels. Borrowers, lenders, and creditors are exchanging current funds to finance ventures, either for consumption or productive investment and seeking returns on their financial assets. Furthermore, the financial system includes sets of laws and policies used by creditors and lenders to determine which projects are funded, who fund the projects, and the scope of the financial deal. Risk Management: Risk management is the process of identifying, assessing and controlling financial, legal, strategic and security risks to an organization’s capital and earnings. These threats, or risks, could stem from a wide variety of sources, including financial uncertainty, legal liabilities, strategic management errors, accidents and natural disasters. A successful risk assessment program must meet legal, contractual, social and ethical goals and monitor new technology-related regulations. By focusing attention on risk and committing the necessary resources to control and mitigate risk, a business will protect itself from uncertainty, reduce costs and increase the likelihood of business continuity and success. Three important steps of the risk management process are risk identification, risk analysis and assessment, and risk mitigation and monitoring. Risk Identification: Risk identification is identifying and assessing threats to an organization, its operations and its workforce. For example, risk identification may include the implementation of a robust cybersecurity system to prevent malware attacks. Risk Analysis: Risk analysis involves establishing the probability that a risk event might occur and the potential outcome of each event. Risk evaluation compares the magnitude of each risk and ranks them according to prominence and consequence. Risk mitigation: Risk Mitigation refers to the process of planning and developing methods and options to reduce threats to project objectives. A project team might implement risk mitigation strategies to identify, monitor and evaluate risks and consequences inherent to completing a specific project, such as new product creation. International Banking: International banking refers to the practice of providing financial services across international boundaries. Banks provide services such as accepting deposits, issuing loans, facilitating payments, and offering investment products to customers around the world. International banking allows businesses to access capital from global markets and make investments overseas. It also enables customers to make transfers between foreign countries without having to use local currency exchange services. International banking services are beneficial for businesses as they provide access to a wider range of financial services than domestic banks can offer. This includes foreign currency exchange, international remittances and transfers, trade finance, and access to global markets. Additionally, by utilizing the expertise of international banks, businesses can take advantage of local knowledge to invest in the best markets around the globe. Investment and Corporate Finance: Investment and corporate finance are essential components of the financial landscape. Investment involves allocating capital with the expectation of generating returns over time. It encompasses various activities, including analysing markets, evaluating investment opportunities, managing portfolios, and assessing risk. Corporate finance, on the other hand, focuses on the financial decisions and strategies within a company. It involves managing capital structure, raising funds, making investment decisions, and maximizing shareholder value. Both investment and corporate finance play crucial roles in driving economic growth, facilitating business expansion, and optimizing financial resources. They require expertise in financial analysis, valuation, risk assessment, and strategic planning to make informed decisions that align with business objectives and deliver sustainable financial performance. History of Money: Before money, we used the barter system i.e. trading by goods and services. Metals objects were introduced as money around 5000 B.C. By 700 BC, the Lydians became the first in the Western world to make coins. Metal was used because it was readily available, easy to work with, and could be recycled. Soon, countries began minting their series of coins with specific values. Since coins were given a designated value, it became easier to compare the cost of items people wanted. Some of the earliest known paper money dates back to China, where the issuing of paper money became common from about 960 AD. With the introduction of paper currency and non-precious coinage, commodity money evolved into representative money. This meant that what the money itself was made of no longer had to be of great value. Representative money was backed by a government or bank's promise to exchange it for a certain amount of silver or gold. For example, the old British Pound bill or Pound Sterling was once guaranteed to be redeemable for a pound of sterling silver. For most of the 19th and the early part of the 20th century, the majority of currencies were based on representative money that relied on the gold standard. Representative money has now been replaced by fiat money. Money is now given its value by government fiat or decree, ushering in the era of enforceable legal tender, which means that by law, the refusal of "legal tender" money in favour of some other form of payment is illegal. Nowadays, even virtual currency is used. As digital representations of money, this type of currency is stored and traded using computer applications or specially designated software. The appeal of virtual currency is that it offers the promise of lower transaction fees than traditional online payment mechanisms do and is operated by decentralized authorities. Corporate Governance: Corporate Governance refers to how companies are governed and for what purpose. It identifies who has power and accountability, and who makes decisions. It is, in essence, a toolkit that enables management and the board to deal more effectively with the challenges of running a company. Corporate governance ensures that businesses have appropriate decision-making processes and controls in place so that the interests of all stakeholders (shareholders, employees, suppliers, customers and the community) are balanced. Governance at a corporate level includes the processes through which a company’s objectives are set and pursued in the context of the social, regulatory and market environment. It is concerned with practices and procedures for trying to make sure that a company is run in such a way that it achieves its objectives while ensuring that stakeholders can have confidence that their trust in that company is well founded. As the home of good governance, the Institute believes that good governance is important as it provides the infrastructure to improve the quality of the decisions made by those who manage businesses. Good quality, ethical decision-making builds sustainable businesses and enables them to create long-term value more effectively. Entrepreneurial Finance: While corporate finance focuses on existing businesses and the challenges they face to deliver returns to their investors and increase shareholder value, entrepreneurial finance is the study of value and resource allocation. It is centred around new businesses and the owner’s challenge to acquire the funding needed to test whether the business can become financially sustainable. All entrepreneurial ventures which are reliant on funding to get started must ask how much money can and should be raised, at what point in the journey, and which sources of funding are viable. Raising money can be a drain on time and existing financial resources, so entrepreneurs must do their research into the routes most likely to result in positive outcomes for their business model and industry. Sources of entrepreneurial financing are: Venture Capital: This type of entrepreneurship financing is often reserved for start-ups and small businesses which have the high-growth potential for long-term success. Venture capitalists don’t always provide investment in the form of financial funding, as this can also be provided to a business in the form of technical or managerial expertise. Angel Investors: Angel investors are typically a group of entrepreneurs or former executives who have amassed personal wealth through a variety of sources. These high-net-worth individuals provide venture capital and often co-invest alongside a trusted associate into the same or similar industries in which their experience lies. Crowdfunding: Crowdfunding is when a business or new venture is presented online with a summary of the business plan, to raise money from individuals. Initial Public Offering: An IPO is the first time a company sells its shares to the public in a bid to raise money. This form of financing is used by businesses of all sizes and at all stages and requires a lot of preparation, bureaucratic hurdles, and paperwork. This means that it is a risky option for start-ups as it can take a long time and incurs costs throughout the process. Appendix: Macroeconomics: Investopedia's "Macroeconomics" section ( www.investopedia.com/terms/m/macroeconomics.asp ) Microeconomics: Khan Academy's "Microeconomics" course ( www.khanacademy.org/economics-finance-domain/microeconomics ) Risk Management: "Principles of Risk Management and Insurance" by George E. Rejda and Michael McNamara International Banking: The Bank for International Settlements' website ( www.bis.org/topics/banking.htm ) Investment and Corporate Finance: CFA Institute's "Corporate Finance" section ( www.cfainstitute.org/en/programs/cfa/curriculum/investment-foundations/corporate-finance ) History of Money: "The Ascent of Money: A Financial History of the World" by Niall Ferguson, The British Museum's "History of Money" section ( www.britishmuseum.org/learn/schools/ages-7-11/history/money ) Corporate Governance: The International Corporate Governance Network's website ( www.icgn.org ) Entrepreneurial Finance: "Entrepreneurial Finance: Strategy, Valuation, and Deal Structure" by Janet Kiholm Smith, Richard L. Smith, and Richard T. Bliss Bibliography: https://cleartax.in/g/terms/financial-system#:~:text=A%20financial%20system%20is%20a,%2C%20national%2C%20and%20global%20level . https://www.ibm.com/topics/risk-management https://study.com/learn/lesson/international-banking-services-overview-function-examples.html#:~:text=International%20Banking%20Structures-,What%20is%20International%20Banking%3F,to%20customers%20around%20the%20world . https://www.investopedia.com/terms/c/corporatefinance.asp https://www.investopedia.com/articles/07/roots_of_money.asp#:~:text=People%20bartered%20before%20the%20world,of%20payment%2C%20including%20virtual%20currencies . https://www.cgi.org.uk/about-us/policy/what-is-corporate-governance#:~:text=Corporate%20governance%20is%20the%20system,accountability%2C%20and%20who%20makes%20decisions . https://online.wlv.ac.uk/a-guide-to-entrepreneurial-finance/#:~:text=What%20is%20entrepreneurial%20finance%3F,of%20value%20and%20resource%20allocation . Previous Next

< Back Essence of Digital Marketing by Zaynah Buhariwala How many of us bother to watch an entire advertisement between our much-loved YouTube content? The old paper board advertisements are now replaced with electric billboards, which change every 2 minutes. Insta ads and more, the future of marketing. How many times have you clicked on a website, you had never even heard of before, all because you saw that really cute outfit on your for you page?! This is the power of digital marketing. The main advantage is that the smallest of companies are investing in digital marketing and making a huge turnover on that investment. Digital marketing has made life easier for the consumer, by having everything at a click of a button; and for the business owners. Like The Stone Age marked the use of stone tools for hunting, gathering, and all other daily necessities. This simplified his life and he had more time to focus on art, culture, and other important things like agriculture and construction. The same is true for the Bronze Age and Iron Age. Likewise, today's age is called the Information Age or Digital Age because of our dependency on Digital Technology. The world is cruising towards complete digitalization and the current COVID-19 pandemic has accelerated it. Digital Technologies has changed the way we look at the world. It has eased our day–to–day tasks. It has opened the floodgates of knowledge and information to the masses. Digital Technology has brought the world just a 'click away'. A focus on content and information. One of the changes that came with new-age marketing techniques was the shift away from traditional advertising and placing more focus on content and information provided to your customers. This paper gives one an insight into the inner workings and technicalities of new-age marketing techniques. NEW – AGE MARKETING TECHNIQUES Social Media Marketing Social media marketing (also known as digital marketing or e-marketing) is the use of social media platforms; like apps like Instagram, tik tok, etc. It encompasses various tactics, including, email campaigns, content creation, search engine optimization (SEO), and influencer marketing. Data–driven approaches and new-age tools are crucial in crafting and implementing effective digital marketing strategies. Social media has become the method of statement in the 21st century, enabling us to express our beliefs, ideas, and manner in a new way. This way of message also has a huge impact on corporations, where they have realized that without a correct plan and social media strategy, they have no chance to stand out in the rapidly changing digital freedom. To guarantee successful attendance on social media companies need to consider different marketing theories so that they can boost their brand in different aspects. If this can be collected with original ways of consumer interaction the companies have a good chance to take the lead in social media marketing. The meteoric growth of community websites, such as Twitter, Facebook, and Linked, has ushered the world into a new era of social media. The global reach is nothing short of marvelous, so much so that if Facebook were a country, it would be the third largest, next to China and India. Some even say that this is the biggest shift since the industrial revolution, which means that the world has a brand-new playing meadow. At its center, social media is any kind of online media that stimulates participation, open conversation, Connecters, and a sense of community. The social media phenomenon has a profound impact. Social media has transformed research methods. This allows brands to communicate better with their consumers, and intensify their association with them. The advertising world has not been spared from social media influence. TYPES OF SOCIAL MEDIA MARKETING STRATEGIES Email Campaigns A series of marketing efforts, including email campaigns. It is a schedule, which is used to nurture leads and current customers to encourage engagement with the brand and increase sales. The goal of an email campaign is to entice the recipients to purchase a product or service or to learn more about the business. Each individual leads to a specific call-to-action; that is, getting users to sign up, book a call, sign up, or add a product to their cart. In an email campaign, the delivery time is relative – it refers to the time the contact is a part of the campaign. An accurate example would be Netflix: Marketing Campaign: Engagement More than half of US households subscribe to multiple streaming channels . With several platforms vying for our attention, brands like Netflix have gotten more targeted with their emails. This email from Netflix provides a curated list of new shows the customer may be interested in based on their watch history. It's skimmable with plenty of visuals supporting the new releases and provides a CTA that prompts you to watch the trailer. It also uses Netflix’s familiar black-and-red design, so that the recipient feels like they’re scrolling through Netflix, demonstrating the importance of keeping branding consistent across all your messaging channels. Why It Works?! The CTAs in this email entice the user to stop what they're doing and head over to Netflix to check out the new content. It also includes a “Top Picks for You” section that shows personalized recommendations for the user. Content Creation Just like we have the 4Ps of marketing, we have the 3C'S of content creation. Content, channel, and context: Content is the information that is being gathered and provided. It is the facts, and features or benefits of the message – the “what”. For example, it’s the details of your product or service that will help the target solve their problem. Channel is “where” and “when” the message is most likely to reach and be accepted by the target. Here we have to consider the buyer’s mindset. For example, if they are on their way to work, then the business is most likely on their mind; on the way home, personal activities may become front and center. Context is “how” the message is packaged in the communication channel; it is everything except the “what” and the “where”. The context is the creative application of the message – the visual packaging, the emotion, the psychology, the tone, and the manner. For example, for sure you have heard of MR. BEAST, the famous Youtube legend. Mr. is one of the most popular Youtube content creators, with 154 million subscribers on the platform. His videos involve him doing stunts, some of which are elaborate, and many go viral. He sells a wide array of merchandise, including apparel and accessories and even chocolates and gummies. He's parlayed his success into philanthropy after giving away the first $10,000 he made from a YouTube sponsorship deal in 2017. In the picture below, Mr. Beast is promoting his cookies as well as Walmart, creating a buzz for them! He is creating the content, by posting about it, context by stating it's going to be available at Walmart and context is the fact that he is promoting it. Search Engine Optimization (SEO) Search Engine Optimization (SEO) is the process of improving the quality and quantity of website traffic to a website or a web page from search engines. SEO targets unpaid traffic (known as “natural” or “organic” results) rather than direct traffic or paid traffic. In simple terms, SEO means the process of improving your website to increase its visibility in Google, Microsoft Bing, and other search engines whenever people search for: Products you sell. Services you provide. Information on topics in which you have deep expertise and/or experience. The better visibility your pages have in search results, the more likely you are to be found and clicked on. Ultimately, the goal of search engine optimization is to help attract website visitors who will become customers, clients, or an audience that keeps coming back. Whenever people want to go somewhere, do something, find information, research, or buy a product/service – their journey typically begins with a search. But today, the search is incredibly fragmented . Users may search on traditional web search engines (e.g., Google, Microsoft Bing), social platforms (e.g., YouTube, TikTok), or retailer websites (e.g., Amazon). THREE TYPES OF SEARCH ENGINE OPTIMIZATION (SEO): Technical SEO: Optimizing the technical aspects of a website. On-site SEO: Optimizing the content on a website for users and search engines. Off-site SEO: Creating brand assets (e.g., people, marks, values, vision, slogans, catchphrases, colors) and doing things that will ultimately enhance brand awareness and recognition (i.e., demonstrating and growing its expertise, authority, and trustworthiness) and demand generation. Influencer Marketing Influencers are a new way of making money for a company. By paying a generous amount, they get their brand or product showcased to half a million people with a click of a button. However, this type of marketing is beneficial for everyone, most of the consumers do not have to pay for subscriptions to the brands, the influencers get recognition and an added fan base from the brand, and vice-versa. The brand also gets recognition and publicity which results in an increase in turnover and consequently an increase in profits! Social media platforms like Instagram, and TikTok; provide a great audience for influencer marketing! Many brands use influencer marketing to reach their target audience. Big brands like Motorola, Adidas, Pepsi, and Dunkin' Donuts all use influencer marketing. Adidas has been using influencer marketing to promote its products for years now. They use influencer marketing to target a younger audience through Instagram, etc. For example, 67 Shades of Dior Campaign - The Gold Winner for the Best Beauty Campaign at the 2020 Influencer Marketing Awards was Dior, who teamed with the influencer marketing agency, Buttermilk. The campaign was to celebrate the launch of Dior's Forever Foundation, which is a range with 67 unique foundation shades. The fastest and new age of marketing involves influencer marketing, which has created a different and most influential sector of marketing. Email Marketing With more recognition of big data, and with the ease that it has not only provided to companies but also to consumers. It's so easy for a company to connect with an interested consumer if they just fill out their details and subscribe to the company, then they could get updates about the company and the company would benefit by creating loyal customer and brand awareness. Ever once signed up for a spam mail by mistake? Then got irritated by the number of emails they kept sending every hour! Well, that is the point of email marketing. Even bad broadcasting is good for the company. It at least lets the company build up brand awareness. Email marketing is the act of sending a commercial message, or nowadays a “spam” message, via email to a group of people. In its broadest sense, every email sent to a potential or current customer could be considered email marketing. It involves using email to send advertisements, request business, or solicit sales or donations. Email marketing strategies commonly seek to achieve one or more of three primary objectives, to build loyalty, trust, or brand awareness. The whole purpose of sending emails out and performing email marketing is to create a good customer-merchant relationship. Especially, for small businesses, in the early stages, this gives them a chance to create a loyal customer base and then expand their business from there! There are 4 types of email marketing; mainly email newsletters, transactional mail, promotional mail, and retention emails. Marketers have been using email as a channel for almost as long as they've been using the internet. The first marketing email was sent in 1978, resulting in $13 million in sales. Email has been one of the most highly used marketing channels ever since. This is because email is a flexible yet cost-effective way to reach many people relatively quickly. You can also personalize your message to target specific audiences and generate leads. EMAIL NEWSLETTERS: Email newsletters are adding value to your subscriber's inboxes. To do so, create engaging content, including thought leadership, how-to’s, and upcoming new products/sales. Your email newsletter should be a short-sweet message to the consumers, maybe based on the latest trends! Short concise newsletters, that can be read in 5 minutes or less. Nobody wants to be stuck reading a 10-minute newsletter therefore, engaging your customer base and finding out what content and how much they are engaging, can help you build up on your newsletter. Your email newsletter is only as successful as your content is compelling. TRANSACTIONAL EMAILS: Probably one of the most boring and least liked by consumers. Getting the big fat bill! That is exactly what transactional email marketing is. Probably one of the least glamorous but most effective forms of email marketing; transactional emails are sent to facilitate an expected transaction between a sender and a recipient. The context of the transaction varies; it could be a welcome email, a confirmation email, or even a cart abandonment email A transactional email is meant to inform the customer about the action they have just taken. For example, every time I use my credit card, I get an email on my registered mobile number, saying that a transaction of $x amount has been transacted from my account. And nobody wants money out of their bank accoun PROMOTIONAL EMAILS: T he main goal is to convince or entice customers to make a purchase. To get the formula right you need to use promotional emails to reward engaged subscribers with exclusive offers, drive new products or services to subscribers, and cross-sell products to your customer base. The purpose of these emails is to build your customer base and customer loyalty. It converts subscribers to customers and customers to brand advocates. For example, while scrolling through your for you page on Instagram, you come across a really cute top and then immediately purchase it. You are now a subscriber to the brand and sign up with it. Next, you get a promotional email and purchase more, you are now a loyal customer or even a brand – advocate. That is the magic of promotional emails. It's got you hooked! RETENTION EMAIL: A retention email is a targeted and triggered message sent to an existing customer to increase engagement, loyalty, and satisfaction . By sending a message requesting feedback or an offer to subscribers who haven't interacted with your business or email campaigns lately, your small business can keep the lines of communication open. Retention Emails are a very useful email campaign strategy that can help you keep your hard-won customers. For example, the end questionnaire you fill out, at the end of a purchase, is a retention email, and once the brand has got your feedback and sent you the improvements; you will come back for more. Creating convenience for you! Role of Big Data in Marketing “Without big data analytics, companies are blind and deaf, wandering out onto the Web like deer on a freeway.” Whether you are trying to improve customer loyalty and engagement, optimize your performance, or make pricing decisions, big data in marketing has proven to be an indispensable tool. Big data refers to the ever-increasing volume, velocity, variety, variability, and complexity of information. For marketing organizations, big data is the fundamental consequence of the new marketing landscape, born from the digital world we now live in. That being said, big data is transforming and modeling into new-age marketing techniques. But what is big data? In terms of marketing, big data comprises gathering, analyzing, and using massive amounts of digital information to improve business operation. Big data is universally accepted in almost every vertical, not least of all in marketing and sales. While Moore’s tweet referred specifically to big data analytics, the same is true for all aspects of big data, including data ingestion, integration, storage, and more. Many marketers may feel like data has always been big – and in some ways, it has. But think about the customer data businesses collected 20 years ago – point-of-sale transaction data, responses to direct mail campaigns, coupon redemption, etc. Then think about the customer data collected today – online purchase data, click-through rates, browsing behavior, social media interactions, mobile device usage, geolocation data, etc. Comparatively speaking, there’s no comparison. And to borrow an old phrase, "You ain’t seen nothin' yet." How Big Data is Transforming Marketing GETTING A 360-DEGREE VIEW OF THE COMPANIES AUDIENCES – The concept of "know your customer" (KYC) was initially conceived many years ago to prevent bank fraud. KYC provides insight into customer behavior that was once limited to large financial institutions. Now, because of the accessibility of big data, the benefits of KYC are available to even small businesses, thanks to big data and cloud computing. Big data analytics provides the business intelligence you need to bring about positive change, like improving existing products or increasing revenue per customer. With email marketing, gaining popularity, big data plays a huge role in getting information from consumers, and without big data, email marketing probably wouldn't exist today. BRAND AWARENESS – The 360-degree view from big data allows marketers to present customer-specific content when and where it is most effective to improve online and in-store brand recognition and recall. Big data allows you to be the band-aid of your product category even if you don't have the marketing budget! For example, email campaigns, as mentioned previously, bring great brand awareness and thanks to big data; are very specific to the consumer's likes and dislikes. Social media and email marketing help brands build awareness and big data is the backbone for these marketing techniques to work! Big data can help marketers, with real-time data in cloud computing environments. The ability of big data to acquire, process, and analyze real-time data quickly and accurately enough to take immediate and effective action cannot be matched by any other technology. This is critical when analyzing data from GPS, and clicks on websites- like we spoke about how in search engine optimization, the searches are very specific to the consumer, that is with the help of big data, the brand can access that information and make changes to the searches according to the consumer. Big data provides business intelligence that results in time and cost savings by optimizing marketing performance. Here's a case study: Big data Gives Beachbody near Real-time user behavior to reduce customer churn Beachbody provides world-class fitness, nutrition, motivation, and support to 23 million customers. Their business is all about the customer experience; keeping people motivated and matching them with the content that keeps them coming back for more. You may be familiar with Beachbody's on-demand videos, but they also offer live sessions at gyms. Big data has enabled the company to acquire near real-time consumer behavior in fitness centers. Combined with analysis from online data sources, Beachbody's big data allows the brand to create more personalized offers for customers and decreased customer churn. We can also connect this to the previous marketing techniques we spoke about, like CONTENT CREATION AND SEO – They created viral videos which users engaged with and that created brand recognition. The SEOs were specified by the company for their subscribed users, which made it easier for the users to also connect with the company's particular event. Types of Big Data CONSUMER DATA – helps marketers understand their target audience. The obvious data of this type are facts like names, emails (which is a part of the marketing plan for email campaigns; as discussed previously), purchase history, and web searches (SEOs). Just as important, if not more so, are indications of your audience’s attitudes that may be gathered from social media activity, surveys, and online communities. FINANCIAL DATA - helps you measure performance and operate more efficiently. Your organization’s sales and marketing statistics, costs, and margins fall into this category. OPERATIONAL DATA - relates to business processes. It may relate to shipping and logistics, customer relationship management systems, or feedback from hardware sensors and other sources. Analysis of this data can lead to improved performance and reduced costs. BIBLIOGRAPHY: 1. Indiraiimp.edu.in 2. Hubspot.com 3. Mailchimp.com 4. Campaignmonitor.com 5. Linkedin.com 6. Searchengineland.com 7. Talend.com 8. Social media marketing article by Sarvakumar Previous Next

Acerca de About Anandilal Podar Trust In 1921, Mahatma Gandhi, the Father of the Nation called on the nation to donate Rs. 1 Crore to the ‘Tilak Swaraj Fund’ - to help liberate India. Due to British oppression, there was considerable apprehension to make donations. It was then Shri Jamnalal Bajaj approached Shri Anandilal Podar, a noble-hearted businessman, to help drive the initiative. Shri Anandilal Podar readily donated Rs. 2,01,00 to the fund and this formed the foundation for the Trust. To contribute to education in a young India, great visionaries and philanthropists: Pandit Madan Mohan Malviyaji, Shri Jamnalal Bajaj and Shri Anandilal Podar came together to establish the Anandilal Podar Trust in 1921. It is of utmost pride that Mahatma Gandhiji himself, was the Chairman Trustee of the trust. Anandilal Podar Trust is honoured to be the only private trusteeship that Bapuji ever accepted during his life dedicated to Independent India. Following in this noble vision, the Trust has been committed to giving back and providing quality education to learners in rural and urban areas across the nation. The Trust has established over 37 charitable schools, colleges, management institutes, hospitals, vocational training centres across India - including the first Institute of Management in Rajasthan, bearing the Podar name. Currently, over 30,000 students are studying in these institutions as the Anandilal Podar Trust continues growing to enrich more lives and contribute to lifelong learning. 35+ Institutions 20,000+ Skilled 2,00,000+ Educated

Acerca de About Podar Eduspace Podar Eduspace is the educational pillar of Podar Enterprise focusing on student programmes ranging from research, volunteering, skill development & advisory to educational institutes. It also marks our foray into EdTech and leverages the online medium to reach people in India, and worldwide. Our offerings seek to equip our students with practical knowledge and valuable skills to combat the challenges of the 21st century. The WorkEx Bootcamp (launched by Podar Eduspace) is a programme that integrates Harvard Business School Online, and Podar Enterprise courses to inculcate interdisciplinary skills to boost employability and knowledge. Explore our courses here . Students have a chance to choose from internship opportunities and work with top industry professionals and fast-track their employability. Upskill with these internships! Put the skills learnt to the test. Podar Eduspace offers multiple competitions to challenge yourself and join a global community of like-minded youth and professionals. Check out our past and upcoming competitions. Podar Eduspace is now expanding its footprint to the skilling ecosystem of India. As part of the Podar legacy, we now join hands with the Government of India to conduct mass upskilling in remote, rural and urban regions across India. Learn more about our initiatives here . Our Vision Supercharge India’s employability by upskilling the unemployed Relevance We aspire to reduce unemployment by creating a knowledge ecosystem where students and young professionals can upskill themselves to stay relevant in this ever-changing job market. Gap Our education system is mainly based on theoretical knowledge rather than on-field experience. This has led to over 70% of graduates lacking employable skills. We believe this employability gap is caused by a lack of internship experience and job-specific training. Solution Our programmes fill this gap by providing students with opportunities to work at top-tier companies and combine this with courses following a theoretical yet relevant curriculum that supercharge our students’ employability.

Kantikumar R. Podar Skill Centre Podar Eduspace expands its knowledge ecosystem with the Kantikumar R. Podar Skill Centre. The Skill Centre will focus on skill-based learning and training for Indians, through industry-linked programs to boost employability. It shares in our Prime Minister's vision to make India the Skill Capital of the World and close the employability gap. About KRP Skill Centre The KRP Skill Centre started in December 2023 to reduce unemployment through industry-based skill courses with placement assistance in the State of Rajasthan. The goal is to combine an industry-ready curriculum with Podar pedagogy to create individuals ready to contribute to our nation's growth and provide a direct boost to the candidate's career. The centre is located amongst existing Podar establishments across Nawalgarh, Rajasthan to house the training and practical application. 100% 100% 100% Students Placements Our Sectors Banking & Finance The program aims to build skills to make students employable in the Finance sector providing opportunities in jobs such as - Customer Relationship Officer Insurance Advisor Asset Manager/Personal Banking Manager Sales/Senior Sales Office r Solar The program aims to develop the skill of the youth, considering the employment opportunities in the growing Solar Energy sector, to provide opportunities such as: Electrician Electrical Tester Roofing Operator Refrigeration & AC The program aims to build refrigeration and Air Conditioning skills to foster employment in the public or private sector through opportunities such as - Heating and cooling mechanic Electrical Appliance servicer Pipefitter Air Conditioning Mechanic Limited Places Available The batch size is intended to be kept small (30-40 participants) to keep the experience personalized and enriching, the first batch starts January 2024. Course Fees: ₹30,000 + GST Eligibility Criteria Age: 18 to 26 years Basic English proficiency Qualification: Min. 10th Pass Program Application Please complete the form to apply for our program First Name Last Name Date of Birth Email Address Phone Course Applying for Select from list Current Location Education Qualifaction Submit Thanks for submitting! Address KRP Skill Centre / ITI Nawalgarh, Rajasthan 333042 Phone +91 9509284027 Email contact.skill@aptrust.tin

Acerca de About Podar Enterprise Podar Enterprise has relentlessly pursued its vision to make a difference by contributing to India’s interest at home and abroad. Established in 1909, the group today represents a 100-year legacy of trust, quality and reliability - in India and internationally. Over the years, Podar Enterprise has expanded into multiple sectors with a strong presence in 15 locations across the world: offering unique opportunities for trade, investment and joint ventures. Our expertise lies in Government Relationships, Advisory & Consulting, Education, International Business, Investment & Strategic Partnerships, Affordable Housing & Sanitation, and Sports. Key milestones 1909 Established in 1909, the group today represents a 100-year legacy of trust, quality and reliability - in India and internationally. 1997 Past Chairman Mr. Kantikumar R. Podar was the first Indian President of SAARC and former President of FICCI . Current Managing Director, Mr. Rajiv K. Podar, is the former President of IMC , and is the Representative to multiple governments worldwide. Podar subsidiaries are the Official Trade Houses for Moscow Regional Administration, Republic of Belarus and Republic of Benin. 2000 Strategic partner for enabling a line of credit for ECOWAS Development Bank (Africa) from the Government of India. 2005 2008 The first and exclusive partner for Cricket Australia’s Cricket Education Program (CEP). 2014 Joint partnership with Covestro (formerly Bayer MaterialScience) to create durable, cost-effective solutions for those of lower socioeconomic status. 2016 Advisors to Russian HNWIs, Russian MNCs and Australian Finance Groups in recommending investment, acquisition and market-entry strategies in India. But the group’s greatest milestone is that it prides itself in having built a team that is inventive, hardworking, and committed to high morals. It strongly believes that there is no substitute for hard-work, trust, and commitment. They aspire to continue growing and giving back to the nation, through quality service across generations. "Reboot the business, reboot the policies, reboot the economy." - Rajiv Podar

Meet Our Board of Advisors Rakesh Wahi Co-founder of Forbes Magazine, Africa & CNBC Africa. Mr. Rakesh Wahi is a visionary entrepreneur who has been involved with early stage investments in emerging markets for the last 30 years. He is a well- respected member of the investment community and has distinguished himself in the field of IT, telecommunications, media, technology and education investments in the CIS, Middle East, South-East Asia and Sub-Saharan Africa. Neil Maxwell Board Member of Cricket NSW and Chairman of SCG Cricket Neil has over 30 years’ experience in the sports industry. His latest roles have involved development of a sports rights acquisition strategy focused on securing the long-term commercial rights to key sports in the ANZ region. This has resulted in partnerships with the AFL, NRL, Cricket Australia, New Zealand Cricket and NZ Rugby Union (All Blacks). Neil has held senior management positions at New Zealand Cricket, Cricket New South Wales, the Melbourne Cricket Club, Lord’s Cricket Office as well as having represented NSW, Victoria, Australia ‘A’ and Fiji in cricket. He is currently a Board Member of Cricket NSW and Chairman of SCG Cricket. Neil was formerly a long-term Board Member of the Australian Cricketers Association. Post his roles within cricket Neil built and sold a sports marketing and sponsorship agency that managed the sponsorship portfolios of Sanitarium, Vodafone, Diageo (Johnnie Walker), Skins, Commonwealth Bank (cricket) and Travelex amongst others. In 2008, Neil was approached by the BCCI to recruit cricketers for the inaugural Indian Premier League. He was later appointed CEO of the Kings XI Punjab franchise where his role was to manage the start-up franchise. This included securing players and support staff through to creating ticketing programmes as well as developing and implementing a comprehensive commercial strategy. Neil has had business interests in the sub-continent for over 25 years and as result has an vast business network in the region. Raj Nair Chairman of Avalon Consulting & Avalon Global Research. Mr. Raj Nair has over 40 years of experience as a doer-manager, entrepreneur, advisor and mentor. This has given him exposure across functional areas, across industries and across countries. In his current role, Raj serves as – Chairman: Avalon Consulting, Avalon Global Research and Germinait Solutions Pvt Ltd. As a strategy consultant, Raj has helped companies across diverse industries in India, USA, Europe, and the Middle East to develop strategies, align strategy to vision, grow in competitive markets, restructure to make companies more customer focused and more. After working in consumer durables marketing at Murphy, and later as a Merchant Banker with Grindlays Bank for 6 years, he set up a Marketing Research and Advisory firm and followed that up with a Management Consulting company. He thereafter, co-founded a very successful Analytics company in 2000. In 2008, seeing the opportunity in text analytics with the advent of Social Media, he founded a technology company that would create IT products that help analyse what people are saying in the digital world. Raj is an Engineering graduate from IIT, Bombay and a Post-Graduate in Business Management, from IIM, Ahmedabad. He also holds a degree in General Law from the University of Mumbai.

< Back EduTech - The New Age Education by Anoushka Sen EduTech is a developing industry in education, that has been propelled by the COVID-19 pandemic. Learn about the key players, untapped areas, impact, and future prospects of the industry. AREAS UNDER EDUTECH (DEFINITION OF EDUTECH) Educational technology is the combined use of computer hardware, software and educational theory and practice to facilitate learning in classrooms. When referred to with its abbreviation, EdTech, it is often referring to the industry of companies that create educational technology. EdTech is still in the early stages of its development, but it shows promise as a method of customizing a curriculum for a student’s ability level by introducing and reinforcing new content at a pace the student can handle. The goal of EdTech is to improve student outcomes, enhance individualized education, and reduce the teaching burden on instructors. While many praise technology in the classroom, others fear that it is impersonal and can lead to data collection and tracking of both students and instructors. Some areas under edutech include online learning platforms, virtual reality, mobile technology, youtube. In-classroom tablets, interactive projection screens and whiteboards, online content delivery, and MOOCs (Massive Open Online Courses) are all examples of EdTech. Learning methodology today typically covers a structured curriculum, interactive classes, labs, project work, and finally assessments. There are many users of edutech in the field of education like primary school, secondary school, higher education. Areas under edutech MOOCs IMPACT OF COVID-19 ON EDUTECH - NEED, ACCEPTABILITY EdTech has been around for nearly the last 15 plus years in a meaningful way. Technology has scaled to a level where everything happens seamlessly online and delivers a great learning experience and great outcomes. This era of EdTech is about the use of technology to highly personalize the learning experience, try new approaches, and to scale education in unimaginable ways. Present-day classrooms have moved beyond the clunky computers that were once the norm and are now tech-infused with tablets, interactive digital courses, and even robots that can take notes and record lectures for students who are not well and it looks like technology in the classroom is here to stay — the majority of teachers believe tech is going to have a major impact on the way they educate in the near future. The immense rise in EdTech users due to the nationwide lockdown has provided a significant push to the sector in India, which is relied upon to develop at a CAGR (Compound Annual Growth Rate) of 52% to having been turned into a 1.96 billion dollar industry by 2021. The key development drivers propelling EdTech in India are the capacity to serve a large audience at essentially lower costs compared to traditional classroom learning, critical growth in internet, Smartphone infiltration across India and steady growth in disposable income of the Indian families. The countrywide lockdown due to the pandemic led to the shutting down of schools and universities which saw the emergence of many EdTech platforms and services and a rise in adoption. The EdTech sector saw major investments and spending by governments, schools, universities, students, and professionals globally. While the growth has been tremendous, the industry suffers from challenges such as scaling up rationally, defeating infrastructure barriers, and retaining growth. Lockdown boosted innovation and investment in the EdTech Sector. There are around 4,450 EdTech start-ups operating in the nation presently catering various segments including K-12 (Kindergarten to 12th grade), vocational, and professional training/skilling and school/college educational operations. While the K-12 and competitive examination segment is ruled by Indian players, the international players are centered on reskilling, vocational preparation, and certifications. A lot of innovations have been tested within the Indian EdTech industry to balance the dynamics of teachers and students from a traditional classroom to a virtual one. Technology is turning teacher-driven education into a more teacher-student arrangement. Smart classrooms are making teaching transparent and equivalent for every student in a way close to the genuine classroom-like experience. Impact of Covid-19 on Edutech Need - The COVID-19 pandemic has changed education forever. The COVID-19 has resulted in schools shut all across the world. Globally, over 1.2 billion children are out of the classroom. As a result, education has changed dramatically, with the distinctive rise of e-learning, whereby teaching is undertaken remotely and on digital platforms. While countries are at different points in their COVID-19 infection rates, worldwide there are currently more than 1.2 billion children in 186 countries affected by school closures due to the pandemic. In Denmark, children up to the age of 11 are returning to nurseries and schools after initially closing on 12 March, but in South Korea students are responding to roll calls from their teachers online. Even before COVID-19, there was already high growth and adoption in education technology, with global EdTech investments reaching US$18.66 billion in 2019 and the overall market for online education projected to reach $350 Billion by 2025. Whether it is language apps, virtual tutoring, video conferencing tools, or online learning software, there has been a significant surge in usage since COVID-19. Acceptability - Covid-19 pandemic enabled EdTech to become leading sector for growth. With the emergence of EdTech, teachers and parents are adopting a more practical way of imparting knowledge. The EdTech industry went the extra mile to help students amid the ongoing Covid-19 pandemic. The increased adoption by institutions, professionals, parents, and students marks the growth. It has always existed, but its popularity and growth are in the news. India's shift to digital teaching in the past 10 months has been rapid. Since March 2020, the number of students learning online in India has increased dramatically. Schools, universities and educational institutions have moved online due to the lockdown and worry about Covid-19. In the past ten months, the user base of several EdTech platforms has doubled in both paid and free daily visitors. Adoption of EdTech tools and products by students, teachers, and institutes - While current classroom doors are closed in schools of all levels, the educational process has shifted online. Teachers whose lesson plans were designed for the analogue form had to adapt to this new digital environment in order to be effective and keep students learning. EdTech saw the major adoption of online self-based curriculums and online class management. Before Covid-19, educational technology had already seen tremendous development and acceptance with a variety of adoptions in educational institutions and at home, such as using visual aids, undertaking research, and creating online portals. Improved digital literacy, increased student engagement, automated grading, staying in touch 24X7, publishing and displaying student work, and personalising learning are just a few of the benefits. EdTech tools and platforms are thus giving educational institutions a tremendous opportunity to respond to the challenge and achieve a seamless transition from offline to online education. KEY PLAYERS IN INDIA India to become the Edtech Capital of the World EdTech funding focused on start-ups - Indian EdTech start-ups raised more than US$ 1.43 billion across 100 deals in 2020. The COVID-19 pandemic disruptions and subsequent lockdowns compelled both parents and educational institutions to implement tech-enabled learning solutions, making EdTech the most funded sector in the country. Of the total funding raised, Byju’s leads with 57%, followed by Unacademy (10.5%) and Vedantu (9.5%). Since 2020, India has seen four EdTech start-ups turn into unicorns (Unacademy, UpGrad, Eruditus and Vedantu) and one into a decacorn (Byju’s). A unicorn is a company valued over US$ 1 billion and decacorn is valued >US$ 10 billion. A hybrid EdTech industry - According to experts, players in the EdTech segment are expected to adopt a hybrid channel approach in the future. Online players are trying to establish offline touchpoints for students. For instance, EdTech decacorn Byju’s has piloted Byju’s Learning Centre, a new hybrid model, allowing students to visit offline education centres for classes. BYJU's is an Indian multinational educational technology company, headquartered in Bangalore. It was founded in 2011 by Byju Raveendran and Divya Gokulnath. as of December 2021, BYJU'S is valued at US$21 billion and has over 115 million registered students. Byju’s acquired three major companies - Epic , an online library for kids aged under 12, for US$ 500 million; Singapore-based Great Learning , an online professional and higher education company, for US$ 600 million and Toppr , an after-school learning platform, for US$ 150 million. Unacademy aims to build the world's largest online knowledge repository for multi-lingual education. They use technology to empower great educators and create a community of self-learners. Their vision is to partner with the brightest minds and democratise education for everyone looking to learn. They want to change the future of education. Vedantu is an Indian online tutoring platform launched in 2011 based in Bengaluru. UpGrad is an online higher education company. It offers over 100 courses in collaboration with global universities. It raised US$ 120 million from Temasek. The Eruditus group, consisting of Eruditus Executive Education and its online division Emeritus, partners with top-tier universities across the United States, Europe, Latin America, India and China to bring world-class business and professional education to a global audience. Eruditus has partnered with more than 50 universities to date, including MIT, Columbia, Harvard, Cambridge, INSEAD, Wharton, UC Berkeley, INCAE, IIT, IIM, NUS and HKUST, educating more than 250,000 individuals across 80 countries. Many courses are offered and facilitated in multiple languages, including Spanish, Portuguese and Mandarin. The Eruditus Group has more than 1,400 employees globally and offices in Mumbai, New Delhi, Shanghai, Singapore, Palo Alto, Mexico City, New York, Boston, London, and Dubai. Eruditus is a global leader in the $280 billion global professional education market. Teachmint , a start-up that helps teachers and institutions create their own virtual classrooms, raised US$ 78 million in a Series B funding. The new round of funding values the company at US$ 500 million. EdTech start-up Classplus raised US$ 65 million in a Series C round led by Tiger Global Management. Doubtnut , a K–12 EdTech platform, has raised approximately US$ 30 million from SIG Global and Lupa Systems. Existing investors Sequoia Capital India, Omidyar Network India and Waterbridge Ventures also participated in the Series B round. Key Players in India TARGET AREAS, STILL UNTAPPED AREAS Target areas Previously dominated by the K-12 segment, the EdTech sector is now witnessing strong growth in the post-K-12 segment. Online education offerings for the K-12 segment (Classes 1 to 12) are projected to increase 6.3X by 2022, creating a $1.7 billion market and the post-K12 market is set to grow 3.7X to touch $1.8 billion. When compared to traditional education (school, college), online education is more affordable. There are numerous e-learning platforms available for the students where they can get access to quality education at the most affordable cost. Due to the affordability factor, students belonging to different income categories and social class can get access to quality education with attractive visuals and expert teachers. There are around 624 million active internet users in India as of February 2021. These active users offer a huge growth opportunity for the EdTech stakeholders. Particularly in Tier 3/4 cities, segments such as online tutoring and competitive exam preparation can have strong growth. With more people in the target audience pool, every segment of the EdTech industry can have ample growth opportunities. Still untapped areas EdTech has untapped potential. The education market in India is massive yet highly under-penetrated, with online learning forming only 2% of this, says Vamsi Krishna, Co-Founder & CEO, Vedantu. Online education start-ups have benefited immensely from the shutdown of schools and colleges, as they tried to fill the gap with online classes. Investors, too, have jumped on to the EdTech bandwagon, even as funds dried up for startups in other sectors. EdTech startup Vedantu raised $100 million in July at a valuation of $600 million, making it the second-most valuable online education startup in India after Byju’s. Virtual is becoming the new normal in learning and is the key to driving growth during the coronavirus pandemic, said Vamsi Krishna, co-founder and chief executive officer, Vedantu. Virtual is becoming the new normal in learning. Therefore, their strategy to encourage learners to experience live, online learning will continue. They believe this will be key in driving category and business growth during the pandemic and beyond. Vedantu is exploring opportunities to scale impact, as it achieves 4x growth, and looks forward to adding 30-40% employees this year. Online learning has seen exponential adoption among students during this pandemic, and schools, as well as institutes, have switched to an online mode to ensure that India’s learning never stops. This continues to benefit students. But switching from offline to online platforms has been a challenge for many teachers, as they were not used to conducting classes in the virtual world. They expect to see more momentum with new users experiencing the benefits of online learning. India has been at the forefront of making the shift towards online learning. While the education market is huge, online penetration is still at a nascent stage. Therefore, investors are increasingly exploring opportunities in this market because of the untapped potential. To invest in this market, they are looking for partnerships that have long-term growth opportunity, the potential to scale and a successful business model. Despite coming up with superior technology solutions for online learning, EdTech startups still are not quite reaching the full potential because of the digital divide, as quality and equality issues are prevalent in India. There is also a misplaced notion about the use of gadgets. Time spent on gadgets and overuse is linked to many unpleasant outcomes. Online learning, when done in moderation and with guidance, can help unlock the potential of each child. A majority of India’s student population still does not have access to a quality teacher or good learning content. The pandemic has only made the situation more stark and online learning has emerged as the only practical solution. ADVANTAGES / DISADVANTAGES Advantages Today’s students are very different from what they used to be. Digital technology has changed the way learners consume information and approach education. The world around us is changing at a rapid pace, and schools, colleges, and educational institutions are all struggling to catch up. Thus, the need for educational reform is higher than it ever was. What can the education system do? First and foremost, it needs to remodel its classrooms to fit those new needs. It needs to embrace technology more broadly to create new learning experiences that can appeal to digital students. This implies a lot of things: the use of new technologies, the training of teachers, the modification of class organization, and, more importantly, a redefinition of what it means to educate people in the 21st century. It’s not an easy task for sure, but it needs to be done in the short term. Doing so can dramatically improve the quality of the education system as a whole, benefiting students, teachers, and society. Some educational organizations are already showing us the way. They are collaborating with education software development companies to digitize the classrooms and bring technology into all kinds of learning experiences. Advantages Tech Provides More Immersive Learning - The digital world is filled with resources that can enrich any class, engaging students at a deeper level and provide interactive experiences that can shed new light on their understanding of a lot of subjects. Imagine, for example, a geography teacher using Google Maps on a digital board to take students on a virtual tour of the Andes or a physics teacher using a 3D simulator to show the effects of different forces at play in a particular movement. There is a lot of software available for a multitude of subjects, from math and chemistry platforms to biology applications. But that is not all there is to it. Immersive learning can also mean virtual reality and augmented reality to offer more sophisticated classes to students. Imagine being able to “walk” through the corridors of the Colosseum or learning to play the piano through a projection on a desk! That’s precisely what technology can give digital learners. It Customizes Learning for Each Student - One of the most significant drawbacks of traditional education is that a single teacher or professor has to prepare classes for different students. That means that classes do not take into account the different kinds of learners inside the classroom, which ends with certain students lagging. Fortunately, technology can help with the diversity of learning styles. How so? By letting teachers follow student progress individually and in real-time. Some platforms can gather information from each student as they work on their assignments and suggest areas of improvement to teachers. Thus, digital learners can move at their own pace, following the recommended path, while teachers can focus on students that are struggling with a particular task. Technology Provides Easy Access to More Learning Resources - Today’s students have grown accustomed to searching for information online whenever they have to solve a problem or learn how to do something. By doing so, they are now used to interacting with search engines, ebooks, educational and how-to videos and online platforms and forums. All of that needs to be present in any classroom to leverage the students’ familiarity with them. Naturally, educators can go beyond that. They can use online tools to allow remote access to students, use streaming to provide tutoring classes, and even use gamification elements in a custom educational software to provide centralized resources more efficiently and in a more engaging manner. Tech Adds Fun to Learning – Students are used to technology being a central part of their everyday lives, so its absence immediately puts them off. Just the inclusion of technology can boost their interest in classes. Yet, technology can do far more than just being there – it can bring fun into the classroom. The gamification elements mentioned are just one of the ways educators can use to generate further engagement with their students. Games themselves are also great to teach about specific concepts in key subjects such as math, chemistry, biology and physics. Of course, there is more than just games – interactive videos and educational robots are other alternatives that can bring the same amount of educational value and excitement. It Increases the Collaboration - Today, technologies help connect the world in a myriad of ways, from connecting people from halfway across the world in a video call to allowing different individuals to work on the same online project simultaneously. Those collaboration capabilities can have a significant impact on the classroom as well. We already mentioned online tutoring classes and remote lessons as ways in which technology can democratize student participation. Group projects and assignments can be done more easily with the tools available today, from text processors and spreadsheets to scientific calculators and online presentation makers. The technology itself can be a goal that fosters collaboration. For instance, a professor could encourage their students to build a website about a particular topic, which won’t just teach them about the subject but also teach them about building a website as a team. Technology Better Prepares Students for Today's Jobs - Traditional education might be excellent at providing fundamental concepts about essential subjects, but it’s getting further away from the workforce’s reality. Today, most jobs call for tech knowledge of varying degrees. At the very least, all jobs require a certain digital alphabetization that most students today have to learn for themselves. Educational institutions can help with that through technology. By encouraging the use of digital tools such as calendars, websites, video calling apps, electronic whiteboards, emails, mobile apps, and more, educators can help students learn how to work with all those tools. Naturally, all of those tools would be boosted by the inclusion of tech-related subjects in the education programs, starting from an early age. Thus, the education system would place technology where it belongs today – at the center stage. Technology Teaches About Digital Life - Technology doesn’t just help prepare students for work but also helps them understand everything that surrounds the tech life itself. Nowadays, many of our lives rely on digital technologies, from entertaining ourselves and communicating with others to paying bills. Besides, social media is a force to be reckoned with, so understanding what it means to participate in that digital life is something students should learn from an early age. In other words, if children start using technology in the safe space of the classroom, they can learn a lot about digital tech responsibility. That’s the perfect environment for students to learn about digital identities, digital citizenship, and online etiquette and what it all means in the broader context. Disadvantages Students: No immediate feedback from instructors - Communication with instructors will inevitably include some wait time. Questions will not be answered immediately due to Professors not having set “office hours” and not being in the classroom at the same time. Lack of face-to-face interaction and connection with the instructor - There is a lack of accountability, because students are truly just "names" to their instructors. Creating personal relationships with instructors is nearly impossible, which is one of the largest factors in successful learning for many students. May require more time - For students that are not as skilled with technology, it could require more time to do this work on their own, to navigate the web etc. Requires technological awareness - Students must be adept at a variety of technologies in order to successfully receive and turn in assignments, communicate with other students etc. Requires students to have access to technology, which is not always possible for lower-income students - Students must obtain a personal computer with a range of programs on it, most likely should have wireless internet in the home etc. This is not always possible for students with fewer financial resources. Lack of motivation for learners who are not intrinsically motivated - Many students benefit from teachers or other peers learning alongside them. It can be difficult for students to desire to learn and work hard when they do not know anyone else doing it. Teachers: The amount of work required to translate the whole classroom structure to a web-based format - It can take a lot of work for teachers to re-format a class so that it fits the web. Teachers must be very adept with technology in order to do this in a timely fashion. Misunderstandings of assignments or instruction - There can be confusion between students/instructors because students only have access to the written explanation of an assignment. Students are not able to ask for clarification, or hear other students' questions. Difficulty motivating students when there is no face-to-face interaction - A large part of teaching is having a rapport with students. When this is taken away, teachers may have a difficult time motivating students from a distance. Lack of feedback from students to help with gauging response - Instructors are unable to get an accurate "feel" for how they are doing and how students are receiving instruction. This is often gained by reading students' facial expressions or reactions, and this cannot be done without face-to-face interaction. IMPACT ON PHYSICAL TEACHING METHODS The Covid-19 pandemic has changed the way teachers prefer working and many are now moving from teaching at schools to the virtual world of edtech startups. After almost two years, students are heading back to school with much enthusiasm for offline classes, but a change has been witnessed in the teachers’ choices as well. Some of the teachers are choosing to continue with virtual classes with new edtech startups, leaving behind the traditional chalk-and-talk teaching methods. During the pandemic, almost every teacher had to learn the new virtual teaching methods by sitting in front of their mobile or laptop screens. Now, they become habitual to these methods as it not only provides them with the potential of greater remuneration but also helps them gain digital skills. The new edtech approach Edtech businesses are positively transforming the education industry. Edtech firms have come a long way, especially during the pandemic, by bringing teaching and learning to an entirely digitised form. Many edtech companies have noticed the shift in how teachers want to teach now and have incorporated tools to help them make the move from physical to digital more easily, such as enabling simplified sharing of videos, puzzles, assessments, and reports. With the help of advancements in artificial intelligence, instructors now have access to a variety of tools powered by machine learning algorithms that make their jobs easier. Special activities, such as verifying responses for assignments, allow them to devote more time to other parts of teaching. The mission of the startup mattered the most to these educators. What came in second was having the organisation’s support with content, training, and access to a community of fellow educators. Edtech provides full-time stability and recognition Teachers who were not able to get adequate job security even after working almost half of their lives in schools can get an opportunity to work as full-time members of edtech startups and be better recognised for their effort. Aanand Srinivas, the founder of the edtech startup StayQrious, which was working with around 50-60 teachers before, saw a definite hike in applications from teachers with a background in traditional teachers during the pandemic. The number of teachers have now increased by around five times as it was earlier. Attractive pay scale After a long interaction with teachers, we got to know that teachers are getting pretty good salaries as compared to what they were earning after spending 75% of their daily time in a private school. “When I was working in a Delhi-based private school, I used to earn around Rs 25,000 to Rs 30,000 in a month. Now, I am earning Rs 60,000 in a month with better compensation and facilities than is provided in schools,” says Mansi Garg, a learning coach at StayQrious. The pandemic has not only changed the learning approach of students but has also changed the mindset of teachers concerning the new facilities they could get and the skills they could develop while working for edtech startups. Edtech startups are now attracting creative talents from all over the country. “With more awareness spreading, we are hoping many of the best minds decide to enter the field of education as the scale of the problem is large and we'll need to have teachers with the right mindset to solve it,” says StayQrious Founder Aanand Srinivas. EDUTECH IMPACT ON EDUCATION AS A WHOLE In this generation, technology plays a major role in everyday lives. We now live in an era where people are consumed by technology devices, which is shaping how we communicate. As these technologies evolved, the nature of teaching and learning has become much more collaborative. With these advanced technologies we are stepping into a whole new world of innovation and creativity. Active engagement - Technology is interactive, this helps students to become passionate about what they are learning. By using the internet, students can get updates on real time issues and solutions. Allowing children to participate in an active way reduces behavioral issues in class, it gives more dedicated time for teachers to focus on the subject. Discussion and working group - By using software tools, students can create online groups and virtual communities that connect them with students and teachers anywhere around the world. Online communities provide a great opportunity for students to discuss their ideas and receive feedback in real time allowing for a more efficient work environment. Coaching and Assessment - As technology continues to evolve, teachers must adapt. Incorporating technology into a classroom setting allows for an enhanced relationship between student and teacher. Teachers can now share lesson plans, lectures, and presentations with ease while students can upload their assignments from their devices. Teachers have become facilitators, providing constant feedback, enabling students to achieve deeper levels of understanding. They ensure that students are not just learning the concept, but also how to apply the knowledge, it develops critical-thinking and problem solving skills. Simulation Software - Simulation software brings to life, the wonders of our world that would be impossible to see without technology. By using specific simulation tools, students can see planetary movements, how a tornado develops, or how the dinosaurs lived. The ultimate aim of EdTech implementation should be to enhance the quality of education and improve engagement levels among students. It is important to balance the visual content with reading, as well as the interactive elements and games with independent thinking and writing, so that students won’t be completely absorbed by all that the internet has to offer. In the interactive age, teachers have more abilities to turn classes into exciting places for discovery and learning adventures. Many in the ed-tech field see new technologies as powerful tools to help schools meet the needs of evermore-diverse student populations. The idea is that digital devices, software, and learning platforms offer a once-unimaginable array of options for tailoring education to each individual student’s academic strengths and weaknesses, interests and motivations, personal preferences, and optimal pace of learning. Increasing Accessibility and Flexibility - Technology has changed education. Information is more accessible now than ever before. We now have fully-fledged universities that thrive by offering all their courses online, it is now easy for anyone to access a desired educational course online. Technology has brought people together by breaking the geographical barriers that limited access to education in the past. Students can learn at their own pace, depending on their ability and the amount of time. Learning materials are delivered to students online, students can schedule their learning timetables as they wish. Special Needs in Education - For years, special needs has been an important issue in education. Traditional classroom environments may fail to address the individual needs of some students. Digital learning provides a highly flexible, interactive and accessible nature for individuals to learn in ways that suit their personal needs, capabilities or even challenges. More so, teachers can now use various technology applications to help students with particular needs learn better. Making Learning Fun Again - Technology has changed education in the ways which learning content is now delivered. Teachers can now use videos, animations, and e-books to enhance the process of learning. It’s common for students and teachers to use games as a way of making the process more interactive. As a result, learning and teaching are now more effective and meaningful than ever. Interaction between teachers and students - Nowadays, the absolute dependence on physical meetings is gone. It is easy for teachers and students to stay in touch via email and other internet-based services such as file-sharing and messaging. Online Tests and Assessments - It is now possible for institutions to test their students online. Students can now use e-assessments to accurately evaluate their performance as well as their professors. Similarly, education institutions can efficiently assess their students using online assessments, saving time and resources. Differentiated Instruction - The technology in education also provides a means to focus on active student participation and also to present different strategies of questioning. It also promotes plans of personalized learning and broadens individualized instructions. The use of internet in education has made a great impact on the educators and students in the whole education system. Internet itself has unlocked a world of opportunities for students. Improved Student Writing - It is also suitable for students to change their written work on word processor which also helps in improving the quality of their writing. According to various studies, students are better at editing and critiquing written work when it is done on a computer. Technology has changed education in many ways. From making education more accessible and meaningful, to enhancing the manner in which teachers and students interact during the process of learning. Technology has had many profound and positive effects on education as a whole. FUTURE PROSPECTS 2021 marked a paradigm shift towards EdTech and the trend will strengthen in 2022. More students will realize that traditional offline players haven't built the capability to provide the support needed in these hyper-competitive times. By 2026 the online education industry is set to grow by 11.6 billion. As per the recent population census survey, nearly 580 million Indians are between 5-24 years of age, with about 250 million of them currently enrolled in schools. This means that about 36 per cent of India’s population is young and learning. That’s a huge market for the education sector to leverage and grow. Like any other sector, the education sector has also seen an online transformation post COVID. However, by 2026 the online education industry is set to grow by 11.6 billion. This proves that the EdTech revolution is not a temporary adjustment but a permanent solution. Online education to ensure continued learning The Government of India has always taken progressive steps when it came to education. In 2002, Foreign Direct Investment through the automatic route was 100 per cent permitted. Due to which the transfer of knowledge, skills, technology, and expertise has become a global phenomenon. Online education has only contributed to accelerating the globalisation of education. A case in point would be the emergence of online programs in renowned and Ivy League global universities like Deakin University, Liverpool John Moores School, Duke University and the University of Arizona. A student from any part of the world can earn and learn at the same time, hence reducing the burden of clearing piled up loans later on. Likewise, Amazon has launched its ambitious computer education programme in India where it would identify and train 1 lakh students for future employability in its organisation. Many mid-level employees will get better projects and salaries as they upskill through online programs offered by EdTech startups. Similarly, the Indian Institutes of Management (IIMs) have partnered with online service providers to provide online and blended courses in digital marketing, product management, finance and operations for working professionals. Better qualified and well-paid teachers A report by KPMG (Klynveld Peat Marwick Goerdeler) shows that India has the second-largest market for online education, right after the US. This means that the nation is going in the right direction as per the recent Nation Education Policy (NEP) passed in 2020. With proper planning and execution, the online medium has the power to meet all the four policy parameters of NEP — Access, Equity, Quality, Affordability, and Accountability. Right now, the challenge faced by Indian Education is not the lack of consumers (students) but the lack of qualified and willing suppliers (educators.) One of the major reasons for this is the low pay for an educator in a traditional school or college setup. Those who are highly qualified in their field prefer to take up corporate assignments with lucrative pay rather than settle for less. However, online educators in EdTech organisations have reported earning 2x more than their offline counterparts. This is because there is no limit placed on the number of enrolments per batch. At the same time, the students get the required 1-on-1 attention in the comfort of their room, which they otherwise won’t get in a crowded classroom setup. Satisfied educators will end up teaching the subject with passion and make the learning process interesting and innovative for students. Blended online mentorship programmes Students don’t have to spend money on transport, lodging, food and expenses if they decide to take the online route for exams like IIT-JEE, NEET-UG, GATE or UPSC-CSE. Nor do they have to mull over shifting base. Due to the availability of recorded lectures, students can enjoy a certain level of flexibility in their schedules, which is otherwise absent in the offline mode. Those who are preparing for competitive exams can do so at their own pace and gain access to their test performances vis-a-vis other students through quantitative data analysis. Online mentorship programs will be a popular demand in offline institutes due to the prospect of the one-on-one learning experience. High brand awareness that traditional players banked on will no longer serve as a strong competitive advantage. Hence, if not at the high school level, from the graduation level onwards, and in the competitive exams space, the outlook for online education in 2022 looks quite strong. Future Prospects BIBLIOGRAPHY 1. https://www.futurelearn.com/info/blog/latest-EdTech-developments 2. https://www.investopedia.com/terms/e/EdTech.asp 3. https://www.indiainfoline.com/article/general-editors-choice/impact-of-covid19-on-EdTech-and-learning-platforms-in-india-120092200276_1.html#:~:text=Impact%20of%20COVID%2D19%20on,billion%20dollar%20industry%20by%202021 4. https://www.weforum.org/agenda/2020/04/coronavirus-education-global-covid19-online-digital-learning/ 5. https://www.indiatoday.in/education-today/featurephilia/story/year-ender-2021-how-covid-19-pandemic-enabled-EdTech-to-become-leading-sector-for-growth-1891605-2021-12-24 6. https://www.ibef.org/blogs/india-to-become-the-EdTech-capital-of-the-world 7. https://thestartuplab.in/future-of-EdTech-india-factors-driving-the-growth-of-EdTech-industry-in-india/ 8. https://www.livemint.com/ 9. https://www.bairesdev.com/industries/EdTech-classroom-benefits/ 10. https://wiki.uiowa.edu/display/EdTech/Disadvantages 11. https://www.indiatoday.in/education-today/featurephilia/story/teachers-are-making-a-career-switch-from-schools-to-edtech-startups-after-the-pandemic-1882493-2021-11-30 12. https://devicecycles.com/wp-content/uploads/2019/05/Device-Cycles-SB_How-EdTech-makes-an-impact-in-education-_03-19-2019-002.pdf 13. https://indianexpress.com/article/education/education-outlook-2022-future-of-EdTech-sector-digital-learning-in-2022-and-beyond-7699508/ 14. https://in.linkedin.com/company/unacademy 15. https://eruditus.com/about-us/ Previous Next

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