Visual Analytics in Education on a Growth Trend
Visual analytics, or the use of data visualization tools, data mining and statistics to help explore and understand large volumes of data, is growing. Technavio, a technology research firm in London, England, recently predicted growth in the visual analytics market within the United States’ education sector.
In the “Visual Analytics Market in the US Education Sector 2016-2020” report, Technavio analysts forecast market growth at a CAGR of 8.59 percent over the next four years. They identified higher education visual analytics and K–12 visual analytics as the two primary segments in the market, based on end users. Last year, higher education visual analytics accounted for about 80 percent of the total market share, according to Technavio.
Among the growing trends in the higher education visual analytics market is adoption of cloud-based solutions, according to the report. These offerings provide the data tools to help education institutions meet strategic goals such as “attaining good business performance, retaining talented faculty and staff, monitoring expenses and revenue, and improvement in transparency.” Overall, cloud computing “helps reduce IT overhead expenses by offering expandable, on-demand services and tools to minimize the cost of hardware and software management and maintenance,” the report said.
In addition, on-premise visual analytics are projected to account for 51 percent of the total market share by 2020. On-premise visual analytics offer “full control over data storage and handling, easy installation and the ability to customize and integrate with other software and devices within the installed network,” according to the report.
Another market trend identified in the report: the increasing use of ERP (enterprise resource planning) solutions “for leadership development, staff motivation, succession planning and for enhancing the efficiency of operations and businesses.” These solutions work well for “tracking student performance and success, facilities available on the campuses,” as well as “tracking alumni donations, fundraising procurements and annual budgets without any hassle.”
To view the full report, visit the Technavio site.
About the Author
Sri Ravipati is Web producer for THE Journal and Campus Technology. She can be reached at [email protected].