Business Virtual Reality

5 Ways You Can Use VR for Business Success

5 Ways You Can Use VR for Business Success
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VR (Virtual Reality) has come into the mass market, usually as an entertainment product. It provides an unusual visual and spatial experience that none of the other entertainment media offers from a passive VR experience that you can get on YouTube to immersive video games.

VR is a staple of home entertainment. Facebook’s Oculus procurement a few years ago for $2 billion looked like a small blip on the radar when we discovered that the potential market for VR entertainment is massive.

Based on an Altimeter report by analyst Omar Akhtar, the combined market size for augmented reality (AR) and virtual reality (VR) is estimated to increase rapidly from about $18 billion in 2018 to $215 billion in 2021. With this increasing push toward immersive technology, several businesses question how they can use it and how to implement it into their strategies.

Nevertheless, VR has other applications. Virtual reality generates unparalleled visualization options that can be utilized in a business environment with mixed reality development assistance. VR technologies are not only about funny toys anymore, as even armies worldwide accept the technology.

VR Can Impact Every Field Of Business

A great deal of the hype around launching mainstream VR headsets last year concentrated on their potential for improving entertainment experiences. However, understanding VR in business is estimated to outpace the leisure use of the technology in the future, with spending attaining about 9.2bn by 2021 based on research by Tractica.

Nearly any process that can be executed in the physical world, and in business that would range from customer services to HR, marketing, finance, and production, can be replicated in VR. In general, tasks that it can carry out can be split into two categories– training or practical application.

For training, VR provides the ability to immerse ourselves in any situation that can be simulated on a computer. Intensively photorealistic visuals “trick” our brain into believing, to varying extents, that what we are seeing is real, enabling us to monitor, and learn from, our interactions. A wonderful example is the public speaking training systems, which have been designed using the tech, like Oculus’s VirtualSpeech.

As for practical applications, they are virtually limitless. The major factors here are the potential for allowing humans to execute tasks without being present (telepresence) and the options for modeling and interacting with simulations of real-world objects that wouldn’t be possible in real life.

5 Ways You Can Use VR For Business Success

Skill Training

Assuming you have a piece of multimillion-dollar equipment that you don’t want to get destroyed. You have two options either to give an inexperienced guy a go at it or to give an inexperienced guy a go at it but in a VR setting. Truly, any sane business owner or operational manager would prefer the second option.

For instance, WorldViz is assisting industrial juggernauts such as Boeing and Lockheed Martin with their on-the-job training. It’s particularly essential when your product is shipped to a client thousands of miles away. Why bother getting accurate technicians and equipment there if you could do a training session in VR?

Naturally, particular applications are hard to copy in VR—certain manual work requires tactile input and muscle memory. But given that there are already VR shoes that let you feel the virtual surface that you’re walking on and haptic gloves that imitate touches, it’s plausible that tactile experiences will soon be augmented within VR.

VR could also be implemented in emergencies when employees get to experience a virtual malfunction rather than depending on only theoretical knowledge. Emergency management skills are significant areas of various occupations. For instance, Cleveland Clinic manages emergency training for surgical operations with the assistance of VR.

Collaboration

Products such as Hyper Room create virtual workspaces that can be used in diverse collaborative projects. Anything from just sketching together or developing a design mockup in real time to examine an engineering project is limitless.

For instance, SpaceX has been implementing VR in engineering for over six years. It has brought a whole additional layer to 3D visualizations, which are vital to the company as they develop immersive 3D visualizations of spacecraft models and then 3D-print their parts.

Product Showcase

VR can be an extremely powerful tool for displaying products and services when a real-life demo is not an alternative. In this regard, VR can relieve loads of business pressure related to the logistics and setup of product showcases.

Virtual showrooms are becoming something because businesses can save massive amounts of money by shipping the product and assembling a showroom. For instance, some car dealerships are having a 70% increase in sales with virtual showrooms. This confirms that they can save on marketing for several products by starting to show their products to potential clients immediately products leave the production line.

Travel is another unusual, popular application of VR favored by every generation. The technology can be implemented from ‘traveling’ to a destination in VR to previewing a travel destination or a resort before actually getting there.

Another aspect of interest that addresses showcasing a product in VR is prototyping. Rather than actually designing a prototype, businesses can, at a fraction of the cost, design prototypes in virtual settings and let test groups access them out in VR.

It’s also more comfortable to enhance a design within a 3D model before it hits the production line. World design leaders, such as IDEO, have already implemented this approach.
Design of spaces

This is a very strong and inspiring niche for VR, with applications varying from office renovations to planning new warehousing solutions and developing a factory infrastructure. This is particularly beneficial for retailers who desire to create unusual experiences for their visitors, irrespective of the location. Retail design companies are utilizing VR in their workflows, and the outcome is wonderful: the ability to display a complete design almost in real life is promising.

Assume how this could simplify the work for landscape and interior designers, and also construction workers. Unluckily, given the relatively small companies that may use this kind of technology and their finite resources, these tools are not accessible to many of them.

Big Data

Visualizing data in VR can assist with decision-making, as it includes volume and depth to data due to designing a 3D environment for processing information. It engages more bandwidth that our senses can offer, which enables us to improve process data. If you feel engulfed with information, VR might be the solution you’re searching for.

This could be implemented in different business processes, potentially restoring imaginable analytical products. Visualizing data to identify patterns can be an intermediate option to data science and machine learning, or it can serve as reasoning for these tools.

That’s why some go as far as to state that VR will interrupt data science, which is pretty captivating, as data science is a disruptive niche in its right.

Conclusion (What is the future)

VR technology is sure to keep improving, bringing our experiences in virtual worlds more closely into alignment with those in the real one. Recent progress, which could have a universal significance, includes the rise of eyeball-tracking technology, enabling us to interact and activate simulation aspects by looking at them.

Also, experiments are already being executed with interfacing brainwave activity, potentially enabling us to modify our environment only by thinking.

Other improvements are liable to reduce against some of VR’s present limiting factors like current applications that can occasionally feel like somewhat solitary experiences. Current high-end VR devices still usually need expensive, devoted computers to power them, but this is probably going to transform as autonomous headsets become more capable.

All thanks to this, and increasingly large amounts of our business lives will likely be done very soon in virtual reality.

Virtual reality has a large variety of business applications, and it’s implemented to business issues not because it’s the latest hip tech but because it’s beneficial for business. It’s a cost-cutting tool that provides unparalleled simulation and visualization abilities. It provides the space for experimentation and training, which otherwise would have needed engagement of trained experts and actual physical resources.

It develops a potential communication and collaboration hub, which could be very beneficial in this current economy. Many companies go for contractors and freelancers to reduce costs and optimize expenditures.


Assume how this could simplify the work for landscape and interior designers, and also construction workers. Unluckily, given the relatively small companies that may use this kind of technology and their finite resources, these tools are not accessible to many of them.
Big data
Visualizing data in VR can assist with decision-making, as it includes volume and depth to data due to designing a 3D environment for processing information. It engages more bandwidth that our senses can offer, which enables us to improve process data. If you feel engulfed with information, VR might be the solution you’re searching for.
This could be implemented in different business processes, potentially restoring imaginable analytical products. Visualizing data to identify patterns can be an intermediate option to data science and machine learning, or it can serve as reasoning for these tools.
That’s why some go as far as to state that VR will interrupt data science, which is pretty captivating, as data science is a disruptive niche in its right.
Conclusion (What is the future)
VR technology is sure to keep improving, bringing our experiences in virtual worlds more closely into alignment with those in the real one. Recent progress, which could have a universal significance, includes the rise of eyeball-tracking technology, enabling us to interact and activate simulation aspects by looking at them. Also, experiments are already being executed with interfacing brainwave activity, potentially enabling us to modify our environment only by thinking.
Other improvements are liable to reduce against some of VR’s present limiting factors like current applications that can occasionally feel like somewhat solitary experiences. Current high-end VR devices still usually need expensive, devoted computers to power them, but this is probably going to transform as autonomous headsets become more capable. All thanks to this, and increasingly large amounts of our business lives will likely be done very soon in virtual reality.
Virtual reality has a large variety of business applications, and it’s implemented to business issues not because it’s the latest hip tech but because it’s beneficial for business. It’s a cost-cutting tool that provides unparalleled simulation and visualization abilities. It provides the space for experimentation and training, which otherwise would have needed engagement of trained experts and actual physical resources.
It develops a potential communication and collaboration hub, which could be very beneficial in this current economy. Many companies go for contractors and freelancers to reduce costs and optimize expenditures.

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