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 28 févr. 2017 08:47

Why use virtual reality as a professional?

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This major question wanders in entrepreneurs’ minds as they are facing the need to update and improve their processes. Virtual reality? Sounds fancy but expensive…

 

But is it really? Does an investment in virtual reality even make business sense? Or is it simply for prestige?

Well here is some material coming from industrials to think about:

  1. Virtual reality has allowed industrials that adopted it to explore up to 5 times more hypotheses
  2. Industrials from a broad range of sectors, including car manufacturers and the airplane industry, witnessed on average that a product development requires 4 times less physical prototypes as soon as you implement Virtual Reality!
  3. They have calculated that virtual reality allows for a product’s conception time to be reduced by three
  4. The general production cost reduction of introducing virtual reality is between 25% and 40%
  5. Virtual Reality has been identified as being a green technology as it reduces the use and waste of physical resources

All these benefits lead to a final and highly important conclusion for business leaders: the average virtual reality investment is profitable within 1 and a half year!

At the age of ruling ROI, the technology is financially a strong asset for businesses.

These concrete elements support two main points:

 

  1. Virtual reality is not simply a “fancy” technology, the same way computers weren’t, even though it is visually extremely impressive, it is more than everything highly functional.
  2. While the initial investment remains important (between 100 000€ and 1 million €), it leads to a swift ROI.

Beyond this, virtual reality has a broad range of use cases and is a very flexible technology. It includes internal uses such as product development, decision-making and much more, as well as external uses such as showcasing, customer communication, and many others.

 

A world of virtual experiences is opening up and is ours to take. New opportunities are around the corner to make virtual reality more accessible such as vr-bnb. The revolution is happening, with or without you.

The real question is: Where will your business be?

Data sources: It3D Summit / IMMERSION

 

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