Uses of Virtual Reality in Business
Uses of Virtual Reality in Business
Virtual Reality (VR) is no longer limited to the gaming industry. Its use within the wider business world is growing rapidly, with more and more businesses globally recognising the benefits of utilising this innovative technology. But what are some of the uses of Virtual Reality in business?
Industries from healthcare and med-tech, to education and marketing, are all embracing the use of VR to effectively deliver their business goals.
But have you ever considered how you could take advantage of VR for your business’ benefit?
In this blog, we want to cover 5 practical ways businesses are using this technology to elevate their business operations.
What Businesses are Using VR?
VR is making a significant impact on businesses in a variety of industries.
For instance, occupational health provider Latus is developing a VR hospital where patients can access treatments from physiotherapy to counselling. NHS services are also adopting VR training, allowing junior surgeons to practice and prepare for real-life medical procedures.
Jaguar Land Rover uses VR to create 3D models of their vehicles, helping them better visualise each component and measure how vehicles perform.
The Natural History Museum has also used VR for creating 3D exhibitions, allowing visitors to virtually experience them from wherever they are.
As you can see, VR can be used in a multitude of innovative and creative ways, so there’s a solution that can be suited to every business.
How Can VR Benefit Your Business?
With VR, anything is possible! VR software allows you to create an immersive experience, so users can interact with a simulated world that can be made to replicate, or be completely different from the real world and the possibilities within it. Through this digital immersion, you can communicate and develop skills by interacting in new environments.
VR can be a cost-effective solution, as the software used to replicate working environments can help cut the costs of carrying out those operations in real life.
VR is also relatively risk-free. Endless possibilities can be explored, and mistakes can be ‘undone’ with the press of a button, meaning VR is a practical solution for simulating dangerous or risky environments.
For these reasons, VR can be a creative, powerful, and efficient solution for businesses.
Uses of VR in Business
Here are 5 uses of Virtual Reality in business.
Have you ever wished you could visit a location, without the hefty travel costs? Well, with VR you can do just that!
Universities have made use of this technology to create immersive, 360-degree tours of their campuses, allowing prospective students around the globe to get a better picture of what the university is like without leaving the comfort of their own homes.
Being immersed in a virtual world can really bring subjects to life for learners. For instance, by being able to solve equations mid-air, view 3D shapes from multiple perspectives, and even draw using the space around you as a giant canvas, learners can better visualise and engage with the topics being delivered.
Learning through VR has also been shown to help retention rates reach up to 75%. Immersive technology as an educational tool can therefore totally transform the way content is delivered, and enhance learner engagement.
Marketing & Advertising
With the shrinking human attention span and the growing need for instant gratification, businesses are constantly looking for new ways to grab their audiences’ attention.
VR can be a great tool for your business to deliver immersive marketing campaigns. For instance, allowing consumers to virtually experience your product or service offers a new and exciting way to try before you buy.
Using VR also opens up your products and services to a wider audience. Fashion retailer TopShop created an immersive marketing campaign with their Catwalk VR experience. This allowed people to virtually attend London’s fashion week, giving them a front-row experience of the latest trends and styles at the fashion show. This meant that a larger number of people got to see what the fashion show had to offer.
VR has revolutionised the way training is delivered in many industries, as it can be used to replicate life-like scenarios.
For instance, using immersive software, surgeons can practice medical procedures on virtual patients, whilst in a safe and controlled environment. VR can also be used to simulate different scenarios, from medical emergencies to engaging with customers at work, developing soft skills and using POS Systems.
Through these immersive experiences, you can practise handling what can be difficult or stressful situations, equipping you with the skills to then manage these challenges in the real world.
Training using VR can reduce training time by 40% and improve performance by a massive 70% when compared to traditional training methods. So if you’re looking for an effective way to train your employees, VR is an excellent solution.
The way we manage our mental health and wellbeing is also being transformed with the use of VR.
People suffering from anxiety disorders and phobias can now immerse themselves in digitally simulated stress-inducing situations, whilst remaining in a safe environment.
Through repeated virtual exposure to the feared stimuli, those suffering can work on overcoming their anxiety and build up the confidence to face their fears in real life.
The gameChange VR program, led by researchers from Oxford Health BRC, has used VR to help treat people suffering from agoraphobia.
Trials of the program have been successful, with one participant stating that it has changed their life. This demonstrates how VR is more than just entertainment; it’s a powerful tool that can be truly transformative for our well-being.
How Will VR Affect Businesses?
VR, as it continues to develop and become more powerful, will be more widely recognised for its incredible business value. Being able to simulate different virtual environments provides opportunities for risk-free training and education, reduces costs of travel and equipment, improves productivity and efficiency, and increases levels of engagement. Plus, using VR allows your business to stand out from the competition by offering an exciting, interactive way to demonstrate your products and services. VR is therefore a worthy investment as it can be used to solve a variety of problems and enhance business operations.
The number of VR devices on the market is increasing and many are becoming more affordable to the general public. This means that more businesses are likely to be entering the world of VR, finding new and creative ways to get people engaged in their products or service. The way we live and work is also becoming increasingly digitised, and since just about any operation that can be carried out in real life can be simulated digitally in VR, businesses are likely going to move more of their traditional daily operations to virtual alternatives.
Is VR the Future?
VR has come a long way from the gaming and entertainment industry and is now taking off in organisations from a range of different industries. This technology has the power to completely transform the way businesses work, communicate, educate and sell, and it’s only a matter of time before VR becomes more mainstream in the business sphere.
VR, along with Augmented Reality (AR), is an incredibly fast-growing market, with its size forecast to hit $296.9 billion in 2024. VR headsets are constantly undergoing improvements; becoming smaller, lighter, more affordable and comfortable to wear, whilst their power continues to grow. As the technology is consistently developing and improving, we’ll be seeing more new and innovative ways it can be used within businesses as time goes on.
All sorts of successful businesses are already making use of this technology, and are reaping the benefits. With the likes of Meta, Google, and Samsung investing heavily in new VR and AR technology, it’s safe to say that VR, and other immersive technologies, are the future. It’s a good idea to keep up to date with the latest technology innovations so that you can keep up with your competitors, and stay ahead of the game.
Should Your Business Choose VR?
How you choose to use VR will depend on your business’s unique needs and goals. VR is an extraordinary tool that can significantly improve your business communications, help upskill your staff, elevate the customer experience, and lead to more cost-effective and efficient operations. With endless possibilities, your business has the freedom to create your own exciting, immersive virtual experience. Businesses that invest in this technology now will be able to reap major business benefits in the long run. So the right time to start with VR is now!
If you’re interested in the uses of Virtual Reality in business but don’t know where to start, we’d be more than happy to help you find the right solution.