Why Digital Education?
COVID 19- the contagious disease caused by coronavirus, has been considered as global pandemic by World Health Organisation, which disrupted the socio-economic conditions of global citizens enormously. It also led to a global recession since the beginning of 2020, with a massive trash in the global business scenario on account of production curtailment throughout the whole world. Rising economic stress has led to a drastic decline in demand for both manufacturing and services sector on account of the urge of social distancing.
Among all the other sectors of Indian economy, COVID 19 has a gigantic negative influence on the education sector. The Central and State Governments announced lockdowns throughout the country in the month of March 2020.
On account of the reliance only on traditional chalk and talk methods of teaching-learning procedures, almost all the public schools and colleges started facing massive problems in completing their regular courses. Here, comes the need of Digital Education, which has been started by some of the renowned Private Schools, Colleges and Universities.
Digital Education- A Brief Concept
Due to the rapid advancement of internet facilities, mobile phones, laptops and other modern technology oriented devices, today’s world is going digitalized more rapidly. As technology dominates modern life so there is an emerging need to use Information and Communication Technology (ICT) in education, commonly known as ‘Digital Education’.
ICT has the capacity to provide higher quality interactive potentiality for users in developing their individual, intellectual and creative ability. Digital Education is nothing but learning assisted by technology, where learning is not restricted within the four walls of a classroom but it can be expanded throughout the world due to the intimation of upgraded technologies in learning.
Recently, ‘digital technology in the classroom’ (DTC) not only promotes active learning and knowledge creation but also allows remote communication and sharing of information among teachers and learners in distant physical classroom locations.
The traditional educational system faces several problems as all activities in the organization are carried out manually, teachers have to maintain all the chapter contents to be taught in the class on paper, attendance records are maintained in register book, etc. This digitalized education system will help not only the educational institution but also teachers, students and their parents. Students can get all the notes and related contents taught in the class and view class history online from home. They can also attend extra-curricular classes and tutorial classes available in school itself by means of tutorial modules with very low cost.
Hence, the latest trends in digitalized education system include both adaptive as well as collaborative learning where each student is engaged by practicing, sharing things and gaining knowledge in a collaborative environment.
Impact of Digital Education on Stock performance of Information Technology companies
Since the outbreak of COVID 19, the stock markets have been experiencing a severe dampening effect both in the Indian as well as global markets. BSE SENSEX and NIFTY50 (the two benchmark indices of Indian Stock market) slumped down by around 16000 points and 4500 points within February – March 2020.
Figure 1: Movement on SENSEX since last 3 months (in base points)
Figure 2: Movement on NIFTY50 since last 3 months (in base points)
Alike other sectors, the Information Technology (IT) sector comprising of major companies like Tata Consultancy Services (TCS), Infosys, 3i Infotech Limited, HCLTechnologies, Wipro, etc. faced similar dampening effects on account of negative investor attitude for their lack of clarity of the immediate way forward.
However, on the account of the advancement of Digital Learning in the scenario of pandemic COVID 19, some of the major IT companies became the market gainers with a very short time span.
TCS, the largest revenue generating IT company (as per NASSCOM-The Trade Association of Indian IT BPM industry), retained itself as the major IT market gainer, thereby imparting the platform of Digital Learning through its renowned online learning software TCS ion.
Unlike all other universities, the No.1 ranked Private university- ADAMAS UNIVERSITY has already started using this Digital Learning platform for providing 24/7 online teaching-learning facilities to all faculties and students living in distant regions of the country as well as the whole world.
Figure 3: Stock price performance of TCS in S&P BSE and NIFTY50 indices since last one month (in base points)
Figure 4: Movement on S&P BSE IT since last one month (in base points)
Figure 5: Movement on NIFTY IT since last one month (in base points)
Thus, modern technology is the only instrument for creating a positive impact on education, with solving the big educational problems of the economy India. Thus, there is a great need of creating a digitalized education environment with the help of modernized technology by all educational institutions for helping students learn better and teachers teach better.
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