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Ultimate eLearning terms you should know: Part 2 (M-Z)

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RFP (request for proposal ): Document prepared by organizations to help assess LMS vendors during a selection process. ROI (return on investment): A ratio of the profit accrued by an investment versus the cost of the investment. SaaS (software as a service): Software hosted in the cloud by an LMS vendor so that customers don’t need to install the system locally. Popular eLearning content standards include AICC, SCORM and xAPI.

The Ultimate Glossary of eLearning Terms

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The first official eLearning content standard, AICC was developed by the Aviation Industry CBT Committee in 1993 as a CD-ROM based standard. A predecessor to SCORM, AICC was difficult to work with and many steps were required to get content in the format running in a learning management system (LMS). This is a branch of eLearning that involves training customers on how to use an organization’s product and/or service. RFP (Request for Proposal).