Does VR actually work for businesses? Here’s the proof.

These days, businesses turn to advancing technologies to gain strategic advantage ahead of their competitors. One of those technologies is virtual reality. However, is implementing VR in your business actually worth the investment? Does it really work? Well, the short answer is yes.

Businesses operating in high-risk fields and heavy industries have been the early adapters to VR technology. VR, especially when combined with a Learning Management Systems (LMS), has various benefits. When used correctly, it can reduce the risk of injury at work and optimise maintenance processes. Plus it can improve memory retention rates by more than a tenfold and boost general workplace efficiency. 

Okay, anybody can say that – but, where’s the proof? The proof is in the pudding. However, of course, we will help you eat it and show you some bite-sized facts and figures. 

Benefits of VR 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 get to experience the benefits of VR for themselves. One of the most common use cases of VR technology is corporate training, which can be applied in many industries. You can read more on the benefits of e-learning and VR here. Okay, time to give you the real numbers!

Proof that VR for business works

Some businesses are a bit hesitant to use VR technology until they see proof that VR actually works for their business model. The following statistics are based on various research conducted on the use of VR for businesses. They should give a solid picture of what can be achieved with the help of VR:

• VR training reduces the occurrence of workplace injuries by 43% by introducing a safer way to train in high risk situations (according to Chaos Theory Games, 2020).
  
• The retention rate of VR training is an incredible 75%, beating classic lectures (5%), reading (10%), and even audio-visual learning (20%) (FrontCore, 2020).
  
• Police officers who received virtual training are 2.7 times more likely to succeed in their missions (SURVIVR, 2020).
  
• Leading the way in VR 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. 90% of all participants lauded the platform for helping them to increase efficiency and work better in general. (Virtualspeech, 2019).

• Airbus uses VR to optimise maintenance via simulated protocols. The use of VR technology has enabled Airbus to reduce the duration of maintenance processes by 25% (Airbus, 2019).

Conclusion

Backed by scientific research, Virtual Reality is an innovation for businesses that is proven to be working. At first, the onboarding process of VR can seem intimidating for your business, yet these successful case studies and promising numbers might help you overcome those reservations. One thing should  stay in your mind: Introducing VR is definitely worth it, no matter your industry and kind of business. There are a few things to consider first that help you take off with VR even more successfully and avoid failure, so if that sounds intriguing, continue reading here.

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.