Source | LinkedIn : By Josh Bersin
The Learning Management Systems (LMS) marketplace is over $3 billion in size, and includes hundreds of platforms to help companies manage all aspects of their employee training. The problem is that most of these tools were designed in the early 2000’s when the phrase online learning meant “e-learning,” virtual classroom, and classroom education. Our research shows that while almost every large company has an LMS (often mandated by compliance regulation), more than 2/3 really don’t like them and employees find the systems very difficult to use.
Today, of course, everyone seems to want to learn on YouTube. Some of the most popular education programs on the internet, for example, are Tasty, fun and entertaining videos that teach you how to make sweets. Tasty videos receive millions of views, and yes, they are actually teaching you how to cook. And let’s face it, video is taking over the internet. (Vivipins estimates that 60% of all internet traffic is now video, and as new tools like Snapchat, Facebook Live, and Periscope grow, video will soon be fundamental to the way we communicate.)
In the corporate space, we have been somewhat underserved. MOOC companies like Coursera, Udacity, Udemy, EdX, NovoEd, and others have built thousands of courses on almost every topic, but some are fairly long and take time to complete. Video learning platforms like Lynda.com (LinkedIn Learning), BigThink, and Udemy are growing rapidly, but they are still islands of their own, making it difficult to integrate them into a corporate environment. Traditional LMS vendors can manage video content, but the learning experience is based on a course catalog (which is often cluttered with thousands of courses). So everywhere I go I see companies developing, publishing, and sharing video, but the employee experience is not integrated.
Driven by this growth, vendors have been building enterprise products for video learning. One of the pioneers was a small company named Jambok (spun off from Sun Microsystems) that built a platform for video sharing. Jambok was acquired by SAP in 2011 and is now branded SAP Jam. Jam is a part of the SuccessFactors suite and positioned as a video learning and enterprise collaboration system. Oracle recently launched a new video learning platform that looks like a video library, and it is now becoming a strategic part of the company’s HCM suite. Saba has redesigned its video learning solution and now positions video learning management a core offering. SumTotal acquired a video learning company and now integrates video with books and courses. Cornerstone resells TED videos and includes video learning in its mobile app. And startups like Fuse Universal, Wisetail, Grovo, and others are building next generation video platforms that publish, curate, and manage video content in a highly compelling way.