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Virtual reality for Businesses – 5 Ways it Can Save Time & Money

Scaling your business doesn’t just entail having suitable systems, staff, or partners. It also includes finding new and innovative ways to save time and money. And that’s where Virtual Reality (VR) technology comes in.

What is virtual reality, or VR?

VR is the technology that immerses you in a simulated digital environment. Wearing headsets and glasses, you enter the digital simulation and have a real-world experience.

When you think of VR, you might imagine a dark room full of gamers trying to outdo each other in their quest to rebel against alien empires. The truth is that the use of VR technology is currently experiencing an increase in growth not just in the gaming industry.

Several industry sectors have begun to realise that VR is an up-and-coming enterprise technology.

You can use VR to build a real-world to showcase products and turn ads into an engaging experience. And you can even use it to find and solve architecture and interior design issues.

Now, you may be thinking, “As a business owner, why should I care about virtual reality?”

The answer is simple:

Times are changing.

Whether you like it or not, it’s best to keep up to date with the evolving technologies, VR included. Moreover, if appropriately used, VR can take your business to the next level.

This article examines five ways that VR can save your business time and money.

THE FIVE WAYS VR CAN SAVE YOU TIME AND MONEY

#1 – CREATE AND TEST YOUR OWN PRODUCT PROTOTYPES

If you’ve experienced developing your own product, you are fully aware by now of the time and costs required. From trial runs to reliability checks, you need to invest thousands of dollars and hours of your time.

With the help of VR technology, you can save time by prototyping and testing your product using an experimental model. Model creation in VR allows you to analyze your product in great detail at the preproduction and testing stages.

A significant advantage of virtual prototypes is that you can fix any problems in real time. That means you won’t have to spend time and money to build a physical model.

Also, virtual prototyping allows you to see your product in various environments. Not to mention, under different lighting and at different angles. Armed with that knowledge, you can make crucial decisions on colors or materials, among others.

#2 – SHOWCASE YOUR PRODUCTS WORLDWIDE

Imagine you are a manufacturer of tractors.

You’ve designed a new line and want to share your fantastic new product at trade shows near and far. Traditionally, you would need to pay exorbitant fees to transport your tractors so that you can display them in those expos.

But why would you do that when you can use VR to create a realistic 3D model of the tractor at a fraction of the price?

The virtual 3D model will enable potential customers to see what the tractor looks like from all angles. They will also be able to see how it functions in real-time.

#3. USE VR TO TRAIN AND EDUCATE YOUR TEAM

Suppose you’re thinking about training your team in soft skills. In that case, VR training could be a great alternative to using traditional screens and projectors.

Generally, using VR to train your employees can be done for much less than the cost of using conventional training methods.

Moreover, immersive VR training delivers intensive, more impactful learning experiences. VR training also removes the risk of unpleasant real-world consequences such as fallouts with team members.

Lastly, employees in VR training can be trained up to four times faster than e-learning and in-classroom trainees.

#4. COLLABORATE ON A GLOBAL SCALE

Let’s say you’d like to involve a bunch of specialists from around the world to help you develop a product.

While it would be fantastic to have them all brainstorm in one room, that would be an expensive plan. When you tally up the price of flight tickets, accommodation, taxis and food, you’re looking at thousands and thousands of dollars to make it happen.

But thanks to VR technology, teams from different parts of the world can easily meet without breaking the back. All that’s needed is to buy VR headsets and join a collaboration network. In seconds, everyone can connect, collaborate, and share insights from the comfort of their workspace.

And since you are all working in the same environment and on the same model, the sharing of feedback happens in real-time and more effectively.

#5. REDUCE TRAVEL EXPENSES

Travel expenses can suck up a large part of company budgets. Fortunately, you can create virtual 3D models to show your product to potential customers. All without travelling to another state or country.

For example, a real estate agent might want to save time going from house to house with potential buyers. In that case, VR technology will enable the buyers to see what a property looks like in a virtual 3D setting. There’s no need for them (or the agent) to visit the property each time.

Similarly, anyone who needs to meet high-touch clients knows that being on the road is a huge time-waster. VR can replace your face-to-face interactions, saving you the trip there and back.

One of the best parts of VR communication is that your clients can stay up to date with what’s happening in a particular project. And that’s regardless of where they are located

VR TO THE RESCUE

VR technology is one of the most innovative ways to save your business time and money.

Initially, it may take time and resources for you to start using the technology. But in the long-term, VR will help you enhance and expand your business in new and exciting ways.

You can use VR in the initial stages of product design to avoid expensive mistakes or as a way to quickly and effectively train your team. VR is also a much cheaper option for you to showcase products aboard or collaborate with international colleagues.

Investing in VR is something that can greatly benefit any business.

Are you considering applying VR in your company?

How do you plan to deploy it to your workflows?

In this quickly developing virtual landscape, those who don’t adapt will be left at a disadvantage. Let us know how we can assist you in your evolution!

Article used with permission from The Technology Press.