Research On Online Education Enterprise Value Evaluation Based On Big Data

With the rapid development of the Internet in recent years,many of the traditional industries in the development of the Internet economy are constantly innovating for profit,the emergence of new business models in an endless stream,the rapid rise of online education businesses.The growing number of online education companies shows explosive growth in their economic activities and capital markets,and economic behaviors such as investment,merger and acquisition,reorganization,etc.among firms are becoming more common,which also determines the need to investigate the method of assessing firm value suitable for online education firms themselves.Currently,although national research on Internet business valuation has achieved some success,research on the evaluation of online education,a sub-sector of the Internet,is still somewhat lacking.Especially because of the online education enterprise industry prospect is very good,consumer dependence,early enterprise investment is large,income and risk coexistence,intangible assets proportion is large,accounts receivable occupy less characteristics,therefore,to the online education enterprise value assessment also caused the corresponding difficulties.The development of big data allows the tracking of a large amount of data required for prediction in the enterprise value assessment process.In this paper,we combine theories and cases,attempts to investigate the value assessment of online educational enterprises on the basis of big data,and proposes the use of Monte Carlo simulation to enhance the discounted present value method of forecasting perpetual cash flows,and advances new ideas for the evaluation of the value of online educational enterprises.First and foremost,this paper provides a detailed description of the status quo and characteristics of online education enterprises,the composition of firms,the pattern of profits,and the trend of development.This paper,combined with research from the online education industry,analyses the challenges affecting the value assessment of online education businesses,and investigates the applicability of traditional methods of business value assessment in the value assessment of online educational enterprises.The final step is to determine the discounted free cash flow model as the most appropriate method for enterprise value assessment in online education.On this basis,the influence of big data on the online education industry is studied,and the improved method of FFF model combining big data is discussed,which is to introduce Monte Carlo simulation in the process of determining the value of sustainable period.At the same time,the simulation parameters are analyzed and predicted by using big data.Secondly,taking Quantong Education Co.,Ltd.as the case to evaluate the enterprise value,analyzes Quantong Education’s development history,business composition,big data impact on Quantong Education.When the traditional FCFF model evaluates the value of Quantong Education enterprises,because of the peculiarity of the changes in operating revenue from Quantong Education,we no longer use the average growth rate of operating income over the last five years.Rather,the combined method of development status,policy benefits,and environmental analysis is adopted to forecast the rate of revenue growth,and the value of the Quantong education companies is estimated after predicting other indicators.The Monte Carlo simulation method is introduced into the forecasting of the discounted present value of cash flows in the perpetuity period,and the value of discounted present value of cash flows in the perpetual period is improved by combining with the value of big data analysis parameters.We use the revised FCFF model above to estimate the value of all-pass education firms.The final step is to compare the evaluation results of the two models with Quantong Education stock price on the benchmark day of the evaluation.In order to verify that the difference rate between the revised FCFF model and the reference value is smaller,we calculate the difference rate.For this reason,this paper believes that the revised FCFF model is feasible for assessing the value of online education enterprises,and the results of the evaluation are more reliable.The paper draws on the results of the evaluation to offer some suggestions about the application of the revised FCFF model in the evaluation of online education enterprises: with full consideration of the applicability of the revised model,in order to strengthen the objectivity of the revenue method in the assessment of online educational enterprises,strengthening the information infrastructure of online education enterprises,establishing a special database for the evaluation of online education enterprises,and improving the professional ability of professional evaluation personnel.