These days, businesses turn to advance technologies to gain a strategic advantage ahead of their competitors. One of the technologies they utilize is Virtual Reality. Is adapting to virtual reality in day to day business operations worth the investment? Does it really work?
Businesses operating in high-risk fields and heavy industries have been the early adapters to VR technology. VR together with Learning Management Systems (LMS) has multiple benefits.
Benefits of VR for Business in Corporate Training
In 2020, outside of gaming, the sectors that were anticipated to have the most immersive technology (including AR/VR) disruptions are healthcare devices (38%), education (28%), workforce development (24%), manufacturing (21%), automotive (19%), marketing and advertising (16%), logistics/transportation (16%), retail (15%), military (13%), and commercial real estate (13%) (Perkins Coie, 2020).
As more and more businesses start using VR, they experience the benefits of VR. One of the most common use cases of VR technology is corporate training. Here you can read more about the benefits of e-learning and VR.
Proof That VR for Business Works
Some businesses are a bit hesitant to adopt the use of VR technology, until they actually see proof that VR actually works for business. The following statistics are based on multiple research conducted on the use of VR for businesses:
- VR training reduces the occurrence of workplace injuries by 43% (Chaos Theory Games, 2020).
- The retention rate of VR training is 75%, beating out lectures (5%), reading (10%), and audio-visual learning (20%) (FrontCore, 2020).
- Police officers who received virtual training are 2.7 times more likely to participate in successful missions (SURVIVR, 2020).
- Leading the way in implementation is DHL Express, which collaborated with Immerse to build a VR training platform to boost efficiency in Unit Load Device (ULD) stacking and safety. Interestingly, 90% of all participants lauded the platform for helping them improve efficiency and work better. (Virtualspeech, 2019)
- Airbus uses VR to optimize maintenance via simulated protocols. The use of VR technology has enabled Airbus to reduce the duration of maintenance processes by 25% (Airbus, 2019).
Backed by scientific research, Virtual Reality is an innovation for businesses proven to be working. At first, it might be difficult to onboard VR in a business but there are a few things to consider before diving into the VR world. There are some examples of VR projects that have failed, here’s what you can learn from them and how to avoid failure.
Smart VR Lab develops and produces training content for businesses across multiple industries. To transform the way your business trains its staff, simply contact Smart VR Lab for a demo and set up a meeting with our team.