Massive Online Open Courses

Online education just won't go away, despite the frequent failure of several models and its marginalization by conventional institutions. That suggest there is a real demand out there, and that eventually a model will be found that strikes it big.

The latest trend is Massive online open courses or MOOCs. These generally are free, and can attract large numbers of students. In the attached article one university is mentioned that has had as many as 100,000 students in one class. Obviously this coverage would not be possible in a conventional physical setting.
Online education has the advantage of being affordable, something that conventional education is increasingly not. Student loans are growing to unsustainable levels, and the dearth of starting jobs means that repayment of those loans is growing more difficult if not impossible. And who really wants to start their life with $50,000 or more in debt?

MOOCs offer an alternative. They also offer certification when completed, and some employers will accept these as valid entry qualifications. The difference with MOOCs from previous online courses is that they make much better use of technology, and technology has of course improved. So students are treated with much more interactive styles of teaching – short recorded lectures, real time discussion forums, self administered exams and tests, flexible scheduling.

Despite the criticisms of online education, particularly by the more traditional conventional learning institutions, online education continues to flourish. Some say it may even revolutionize the educational system eventually, because of the cost of education and the growing power of technology.

Here’s a good article on MOOCs.

Facebook's Business Model at a Crossroads

Since the now legendary snafu of Facebook's IPO, the company has been facing a damaged image and reputation. Focus has shifted to the question of long term profitablility and sustainability, which is an open question with Facebook. Recent stats suggest that growth in traditional markets has topped out but there is still immense growth happening in markets like Brazil. Also, there appear to be opportunities in the mobile markets, as with so many online services.

So Facebook faces some serious strategic decisions over the next year. And they need to move fast. Now that the company has gone public, people are watching more closely and expecting more.

Check out this take on the current situation.

Is Cash Obsolete?

The popularity of debit cards has substantially reduced the need for cash. And credit cards are still being used, albeit at a somewhat reduced rate since the recession started. Credit cards are still the most common means of payment for online transactions. Along with Paypal. Smart phones are starting to be used for payments, and applications to enable this are becoming more common. And prepaid cards are gaining ground as well, because of fears over identity theft and other fraud.

All of these means of payment have substantially reduced the need for cash. And yet, cash remains in widespread use. Why?

For one thing, there are still transactions that require cash. A tip for a bellhop. Or payment to a neighborhood kid for mowing your lawn. Small transactions often call for cash. And one irony - means of payment like debit cards are often touted because they are convenient. However, cash is actually more convenient for smaller transactions, provided you draw some out of the bank and keep it on your person. All you have to do is pull it out of your pocket and hand it over and get your change. No entering of numbers into a machine and waiting for a response. And cash is free, while most other means cost a fee - small but a fee that can add up. Many older folk like their cash and will keep using it. Also using cash doesn't leave a trail, while other means do. So cash is popular with drug dealers and the like.

All of this means that the role of cash is diminishing. But is it disappearing? Not for a very long time to come. Maybe not in our lifetime. Here's a good article on the subject.

Big Data Preparedness

ATT points out that 85% of big business will be unable to exploit its data in coming years. That means a significant competitive disadvantage for them. Data available to business and in fact needed for competitiveness is growing exponentially. It's coming from variety of sources, but notable among them is social networking. And a prime vehicle is found in mobile devices. Social networks make available huge amounts of data about customers, competitors, suppliers, collaborators, employees, and anyone else that the company deals with. All of this information needs to be organized and placed in a form that it can be analyzed through direct M2M connections. There is just too much for people to deal with. To handle the data, companies need to changes some of their key strategies - strategies about mobility, social networking, use of important M2M protocols, like XBRL and enhanced CRM, SCM, eProcurement and HR Systems, among others. For some interesting background on this whole important area, check out the ATT pages on the topic. Time is running short to plan the appropriate strategies.

Text Marketing
Texting has a bit of a bad reputation; often seen as a trivial means of communication between teens and tweens, or a dangerous pastime while driving. However, texting is an effective means of communication and can be used for marketing quite effectively.As a current article points out, text messages are short and to the point, and are more likely to be read than email messages.They can also be used for marketing to people within a particular vicinity, and techniques like bluetooth marketing and contextual marketing. They can be targeted to particular customers or groups. Texting is often overlooked as a vehicle of advertising, but its time is overdue.

Online vs Physical Store Shopping

A recent Neilsen survey shows that online shopping is now the favourite (59%) shopping method for consumers. This has been trending upwards for several years. Generally, the approach favoured by shoppers has been using the online sites for research and then buying at the store. There is some indication in this survey that this is now changing. It indicates that shoppers are checking goods out in the store and then buying online in order to get a better price. An interesting development that retailers have noticed. No doubt they will watch their online pricing more closely to minimize the cannibalization of their store sales by online shoppers. On the other hand, the pricing differences may be viable because online selling carries less overhead with it - less need for staffing costs, for example. So there are issues for the retailers to consider before making drastic changes. In any event, it's an area of policy that warrants close attention. Here is a write-up on the Neilsen survey.