Reporter: Meng Yu
With the rapid development of the internet in China, the concept of “Internet+” has evolved into a new economic paradigm. In the field of education, the integration of the internet and education is reshaping the business landscape of traditional education. Online education companies are leveraging the internet to disseminate high-quality educational resources, expand their market reach, and usher in new opportunities.
Wang Kan, a renowned education expert in China and the Executive Director of Zest Education, a prominent education company, has accumulated extensive experience in online education operations and management over the years. Wang attributes his success to his proactive work habits and his commitment to constantly improving. He notes, “The rapid development of online education has played a positive role in advancing education in society by changing traditional methods and modes of learning. However, we should also recognize that due to the unique characteristics of the education industry, many online education companies face issues such as hasty expansion and unclear or similar profit models in the competitive market.”
To address these challenges, Wang Kan conducted in-depth research on profit models for online education companies, drawing from theories in both profit models and internet economics. He analyzed the profit models of internet education products and identified their unique characteristics. Based on this analysis, Wang embarked on the development of innovative profit models for internet education products. In 2021, he introduced the “Internet-Based Open Internet Education Product Profit and Loss System” , incorporating emerging technologies such as big data, the Internet of Things (IoT), and cloud computing. This system made waves in the industry.
Wang emphasizes that the profit point is a critical aspect of realizing a company’s profit model. Currently, online education companies primarily rely on educational product services and advertising services as their profit points. As a manager in the online education sector, Wang Kan is well aware that profit points are not realized directly but often result from building relationships with products and stakeholders. He asserts, “Only by using a wide range of educational products to satisfy different stakeholders can value exchange occur, and profitability can be achieved.”
Wang Kan’s most significant innovation with the “Internet-Based Open Internet Education Product Profit and Loss System” lies in innovating various factors within the profit model, including selecting stakeholders, building core capabilities, and choosing profit points. The system employs advanced information technologies such as data mining and cloud computing to construct a vast data warehouse for open internet education products and an information prediction model. Users can extract critical trend information, predict future trends in the educational product market, and price trends, and determine educational product portfolio strategies. Simultaneously, the system constructs various product portfolio expected return models that can describe the relationship between risk and return for each educational product portfolio from multiple dimensions, determining the standard payback period, accurately reflecting the value of funds in different time periods, achieving profit recovery periods and profit-loss break-even points, addressing the overly subjective nature of manual assessments, and optimizing the allocation ratio for different educational products to maximize application benefits.
The “Internet-Based Open Internet Education Product Profit and Loss System” has been widely adopted in the online education field, with its technical advancements and contributions validated. According to extensive user feedback, the system’s objective data analysis has enhanced the controllability of fund drawdown, optimized asset allocation structures, effectively mitigated subjective judgments in product data analysis, improved profit and loss analysis accuracy by 58.64%, and increased the yield level of educational product portfolios by 36.69%. It not only ensures the stable and sustainable profitability of online education companies but also generates substantial additional income. This innovation has received positive feedback from the market. As the developer of this technological achievement, Wang Kan has emerged as a leader in advancing the development of intelligent online education in China, guiding enterprises and the industry toward higher goals.
Time does not disappoint the efforts of those who strive tirelessly. It is the dedication of countless outstanding researchers in intelligent education, like Wang Kan, that has painted the flourishing picture of the education industry today. Wang Kan’s numerous achievements and research contributions serve as an inspiration to all technology workers, urging them to create extraordinary stories in ordinary positions and contribute their wisdom and hard work to the rapid development of society and the economy.
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