June 8, 2021
Today, the world continues to cope with the losses and immediate impacts of the pandemic in the economy. Although the global market is greatly challenged, the efforts to continuously evolve and adapt are evident. For this reason, businesses – small and large corporations alike, are not exempted from shifting methods and approaches.
One angle that companies consider is the innovative integration of VR in business. In this article, the world of virtual reality (VR) will be introduced as a powerful tool in its business capabilities.
After its successful dominance in the gaming industry, VR apps and products also rise to fame for commercial uses and industrial purposes. Whereas the global VR and AR market size was forecasted to have hit $18.8 billion from 2016 to 2020, its continued growth is expected.
Below are specific ways on how effective VR is in marketing and training for businesses:
1. Enhances Product Designing & Structural Development
The practical application of VR in product and structural designs is a great investment. Although there is an initial expense, it has the potential for reducing time and money spent.
VR allows you to see a prototype’s ins and outs during the initial stage of product/structural designing. Because of this, making important decisions on resources and materials is easier.
The goal of VR is to allow prospective clients to look into the designer’s imagination and see the architect’s vision of his building. It also provides a more vivid analysis of the product functionality.
Yulio VR proves that an immersive and memorable virtual presentation invites a greater understanding of a proposal. This is an enhanced way to showcase a product mock-up before its launch or production.
In Hamburg, the integration of VR in Airbus aircraft was found effective. The simulation of interaction among the passengers and cabin crew were recorded, the effects of the movements assessed, and afterward, changes and reconstructions were done immediately on a virtual mock-up. Virtual simulation helped engineers and designers during the concept phase of Airbus.
2. Improves Data Accuracy
With the high-end technology of VR, storing and presenting a vast amount of data can be easily executed. Making informed decisions based on data visualizations becomes more conducive. This is possible by immersing ourselves in a world where a huge amount of data can be readily grasped by our hands.
In future, VR sensors will be smaller and lighter, making data acquisition faster. With the help of VR, computations and calculations will be more accurate. Although VR applications can be high in cost, there are now devices available to use at affordable rates.
An example of an immersive platform of patented AI-driven data analytics and 3d visualization is Virtualitics. With a single click, it can provide actionable insights from complex data and can visualize anomalies and patterns.
Virtualitics also features a shared office in desktop or VR, allowing people across different geographical locations to connect and collaborate.
Having a smarter AI-driven platform in collaboration with VR can dramatically improve understanding of data. An innovative presentation of data can help industries make better decisions.
3. Innovates E-Commerce Advertising
The rise of online shops makes way for the wide use of marketing automation. The challenge for advertisers to cultivate effective customer experiences can be enhanced in VR.
Marketing products and services can be more vivid from the perspective of prospective clients. For example, agents in the real estate industry can visually present properties for sale and provide VR tours. Likewise, hotel services can now bring the venue to customers using VR technology.
Marriott Hotels is one of the earliest adopters of a VR-based guest service. Their “VRoom Service” provides guests a realistic travel experience to their rooms.
This innovative approach to making use of sensory images and creating photoreal CGI versions makes it seem like prospective clients have teleported. Marriot Hotels collaborated with Samsung Electronics America to provide inspiring VR experiences using a Samsung Gear VR headset.
An example of a small business that made a great impact in the market using VR is Toms Shoes. With their side-by-side collaboration with AT&T, they managed to start the “A Walk in Their Shoes” campaign.
The campaign’s vision is to donate a pair of shoes to children in need for every purchase of Tom’s shoes. To make this positive impact come to life, purchasers use a VR chair to have a glimpse of the child’s life who will benefit from the purchase.
The excellent use of VR by Tom’s Shoes with AT&T created a fresh perspective to promote a product. Not only do they make huge sales but they also opened an avenue to inspire people.
4. Enables Live Training Sessions
As opposed to video conferencing, other technical tasks are more hands-on with immersive 3-dimensional technology. Newbies and trainees can benefit from simulating several tasks to be able to carry out their roles in the future.
Training an employee using VR ensures mastery and quality outputs. Efforts in integrating VR to live training sessions demonstrate the potential for significant productivity in workplaces. It is a viable choice for managers to invest in VR and AR technology to provide development solutions.
Take the VR platform of VirtualSpeech for example. VirtualSpeech helps organizations improve soft skills with their training courses and realistic simulations. They aim to train potential employees and newbies in communication skills that relate to their presentations, job interviews, and networking practices.
Using a simulated experience in realistic VR scenarios takes away the dread and anxiety for oral presentations. Public speaking can now be rehearsed in a realistic environment with an audience.
The user can upload presentation slides and notes in the speech training. The speech can be saved to be accessed for analysis and real-time feedback. Through virtual speech training, greater employee performance is guaranteed.
In line with this, using VR to upskill and train workforces in other areas enables them to look around the room and interact online. Detailed instructions are simpler to understand and navigate in VR. Using a virtual boardroom, training and seminars become more interactive.
5. Achieves Virtual Conference Meetings
Have you seen movies that feature men in suits discussing a confidential project in a conference hall? Later in the scene, you observed that these people aren’t actually around each other, but from across the globe!
Conferences and meetings can now be conducted virtually. By use of sophisticated products like headsets, goggles, or a helmet, employees can join a meeting in a virtual office.
Companies can choose VR in today’s wide implementation of working from home due to the pandemic. Remote workers will still experience a tangible meeting with those who work in the office.
Task simulations transfer actual movements and gestures in real-time to virtual reality, thus work experience can be evaluated more efficiently. The enhanced productivity and improved operations using VR can lead to fewer expenses in the future.
Using VR, you and the team can pitch ideas as active participants with physical representations. This way, the outcome of your business planning is more accurate. Crafting the business to the next level can now be done even in the comfort of our homes.
MeetinVR provides a virtual business experience using a VR platform. Their ultimate contribution is creating productive, efficient but also inspiring meetings. They allow you to choose a workspace that fits your meeting needs.
This platform provides your organization a place to create and plan confidentially. It elevates your brainstorming with the use of a tablet to access tools and extract files into 3d. Getting back to meeting sessions and inviting others can be done in a matter of seconds.
Because VR is a lot different from pre-recorded videos or live chats, there will be greater employee engagement. With a tool as delicate as VR, companies ought to explore how to use this technology.
6. Simulates Tours and Travel
Another obvious way in which VR can impact businesses is the opportunity it presents for tours and travel.
Aside from eliminating the hassle and risk of commuting for employees, the tourism industry can also benefit from VR. They can advertise tourist destinations in an interactive environment for clients to visit.
Other than showing plain images and videos, inquiring customers can have a genuine experience in the location instead.
Combining digital aspects with actual human experience helps in transforming the business landscape for this industry. VR can provide alternate experiences for prospective customers in a safer and more convenient manner.
Businesses in the hotel management and travel industry are likely to draw clients to destinations with VR. In fact, the Qantas, Hamilton Islands partnership with Samsung has allowed their customers to experience a 360-degree view of their destination.
Qantas adopted VR to create an exciting glimpse of one of Australia’s most popular and scenic holiday destinations. Clients get to experience a brief realistic jet flight to Hamilton Island.
They are then welcomed to a luxurious resort where they can decide to visit an abundant tropical beach, play golf, enjoy breathtaking views from a helicopter tour, or sail on a yacht. All these by simply hovering your mouse over the video in any direction!
VR captures realistic destinations in an immersive way. Using a VR headset or a regular computer, VR can definitely enable visitors to have a unique experience even from the other side of the globe.
7. Provides a Powerful Tool for Hiring
Finally, companies can also reap benefits with VR because it can be a great tool for hiring applicants and determining potential employees. Due to several developments for VR sensors, responses and body language can be observed more closely. VR communicates these genuine gestures.
The human resources department can have a more intrinsic method of looking for candidates. Simulations and demonstrations can be captured in a near face-to-face experience, allowing employers to assess whether an applicant is qualified for a position.
Deutsche Bahn, a company in Germany believes it is the first to use VR to recruit staff. This railway company invested in innovative technology as they try to replace employees on the verge of retiring.
Since there have always been challenges in the labor market like demographic changes and rival companies, Deutsche Bahn thought of integrating VR as a recruitment tool. It gave insights into different jobs that they offer – whether an electrician or train driver.
As a transport group that aims to recruit between 7,000 – 8,000 people each year in Germany, their VR integration has proven useful.
More into Business and Virtual Reality
The increasing demand for AR and VR devices is no longer exclusive to the entertainment industry. It has significant potential in changing the business world as well.
The continuity of e-Commerce in the digital era becomes brighter with the application of VR. Marketing can be enhanced and training people can be more conducive.
Beyond gaming, the market is now demanding viable VR strategies. Enhanced workplaces and more automated operations in virtual reality impact organizations in a variety of ways.
These benefits motivate opportunities for VR technology in the hands of software developers. The future of virtual reality and business appears to be promising.
Dan has hands-on experience in digital marketing since 2007. He has been building teams and coaching others to foster innovation and solve real-time problems. Dan also enjoys photography and traveling.