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HOW TO GROW YOUR BUSINESS WITH Virtual Reality (VR)?

Introduction

Over the last few years, virtual Reality (VR) has evolved from being a fictional technology to being a concrete technology whose potential we can now harness. A recent research conducted by VisionRayz reveals that $7 billion is expected to be generated by Virtual reality before the end of this year and its revenue is forecasted to keep increasing till 2021 where it will reach an estimated sum of $75 billion. Despite these impressive figures, many businesses do not know what benefits VR offers or could offer their businesses. This article will help you understand the business uses of VR, but first, what is VR?

What Is Virtual Reality (VR)?

Virtual Reality (VR) is a computer generated three dimensional environment that can be explored and felt by persons. This enables the person to feel as if his/her is in that world and in certain situations and modifications of elements can be carried out. It also allows for the incorporation of sensory feedback props. This environment can be modelled to present a real world experience or even more fantastic experience that cannot be achieved in the real world. This technology makes use of virtual reality headset combined with some sensory props or a multi-projected environments to provide a simulated imaginary environment. VR allows users to move, feel and modify the virtual environment. Learners can improve on their skills in virtual environment without incurring any real-world consequences when they fail. There are other virtual reality devices that transmit sensations which includes vibration through some sensory transmitters are referred to as haptic systems. This virtual information is also referred to as forced feedback. It uses some combination of technologies to make this come reality.

Four Ways VR Can Benefit Your Business

Below are four ways via which VR can improve your business:

  1. Reduce Cost of Prototyping new Products: The cost of producing a physical prototype of your product can be avoided. With the aid of Virtual Reality (VR), a virtual version of your product can easily be produced, and the features of your products can be adequately perceived as it will be in the real world scenario. Using Virtual Reality (VR) for prototyping of product, one can easily identify any lapses in the product before taking the product for mass production. This will help save cost that may be incurred if there were errors that might have gone along the production line. This also allows you to make changes and modification to product virtually rather than physical modification that may cost you more time and money
  2. Organise Virtual Meetings: sometimes it is difficult for every member of a team or committee to be present due to some unavoidable circumstances, for example, business trip, Virtual Reality (VR) can be incorporated into your business to create a virtual environment so as to ensure that members of a team/community can participate and perhaps contribute their own quota to the achievement of the overall company’s objectives. It also allows employees to work from home and still have the opportunity to participate in what goes on within the business workplace. VR headset is one tool that can be used to accomplish this task, which allow workers to be virtually present in assigned meeting/conference room as other employees.
  3. Improved Recruitment: Several companies are beginning to adopt the use of virtual reality in conducting interviews for candidates. It allows the interviewer to interact with the candidate as if they are physically present. With this, the interviewer will be able to see the facial gesture and reactions of the candidate. Body language of candidate can also be examined. Most big companies today are adopting the use of Virtual Reality (VR) for hiring professionals from any part of the world. This will help to save the company’s time, cost and effort.
  4. Improving Customer Experience: Amongst the benefit offered by VR include better customer experience. Companies can better connect with their customers ensuring that they get the best services. It also help in saving the time and efforts of customer in a situation where their presence is needed, they can easily get through to the firm via virtual reality (VR) technology. Customers tend to pick more interest in video calling than in voice call as this gives them more confidence and satisfaction. Companies can enhance their communication strategies by incorporating Virtual Reality to their business. Also, companies can give new customers a feel of using their products via VR so they know what they are about to purchase.

Conclusion

The uniqueness of virtual reality (VR) is in its ability to present a simulated but also a comfortable experience. Taking advantage of Virtual reality’s immersive nature, companies can enhance their reputation for the long run. It is indicative that Virtual reality (VR) will flourish well in the business world. Every business can have endless possibilities when it comes to interacting and communicating with their customers only if they adequately explore all that virtual reality has to offer.

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