Web
Analytics
Virtual Reality: The buzz and impact on Businesses | Prismetric

Virtual Reality: The buzz and impact on Businesses

If its Ronaldo or Messi in football and Donald Trump in the US, then certainly the two of the most talked about technology in today’s world is AR (Augmented) and VR (Virtual Reality). It was stated in the beginning of the year itself that Augmented and Virtual Reality will be the two spheres that will have a huge impact on the all the courses related to technology businesses and it has certainly proved its worth in gold. Statisticians also predict that by the year 2020, the VR market could be worth 30 billion. In addition to this over 170 million people would be using VR hardware and software worldwide by the year 2018.

Virtual Reality in business

With such a huge prospectus lying in front of it, businesses are bound to get inclined towards VR as it can put a huge amount of resources in resurging opportunities and making their horizons bigger, even more than they expected. VR is inescapable. Period!! And as the quote goes, “ It is on a roller coaster ride that will always go up”. In addition to this, Virtual Reality no longer just a fictitious story in the realms of Sci-Fi movies, it has the potential which businesses has to realize in order to actually transform their being and be a master of their art.

Let us now have a detailed look at the functionalities of virtual reality in the space of businesses and how it will impact them for the good!!

Here we go.

Buzz of VR

For all those who don’t know what the heck VR is, here is a small description. Virtual Reality is an art and science of creating an artificial environment through the use of software. It is very prompt and a sensory experience affecting the human senses effectively. It gives the users a stimulated experience such that, at one point they start to believe the artificial environment as the real one.

In other words, VR is the computer generated 3Rd dimension, the one which can be explored and in which objects and views can be manipulated for the good.

The tech pundits predict that coming 5 to 10 years are going to be huge for VR related to business technology. Virtual reality completely abolishes the relevancy of geographic locations and makes the ability of reaching every nook and corner of the earth even more smoother. Although, not every consumer has the access to VR, the trend is steadily getting traction.

Impacts

On improving customer loyalty:

They say that brands and VR have a strong connection between them and it’s like they are made for each other. VR can provide story driven experiences in the app and the companies can use this to engage their customers on a very large scale. VR can help the organization to educate as well as entertain their customers according to the app thus encouraging the customers to actively participate instead of being passive bystanders. Virtual reality will bring a whole new aspect of the app in front of the customers that will be more intuitive, immersive and immaculately interactive.

Also Read: App Industry on the verge of transformation with AI and VR

Enhancing Prototyping:

Visualizing the product will go to the next level with Virtual reality as the organizations can visualize what they are building more than ever before. The level of prototyping will increase and this will give a detailed and in-depth insight in the beginning of the process itself. So, the developers can decrease the app development cycle and businesses will have to spend less time and money on the app development process. In addition to this, the decision makers and the end users will have more valuable feedbacks at an earlier stage and thus the process will be upto the mark from the beginning itself.

Improved Product Design:

The method of product designing will never be the same after the advent of VR into it. With Virtual Reality, the designers can do much more while sitting in a single room, with high simulations and testing with them so that they can design the product with much ease and quickly. The testing process will also be made profound, transparent and highly reliable. As a result, the overall costs of production will have huge slump.

Areas of Impact:

Here is a list of the fields that are benefited by Virtual Reality on a large scale:

Healthcare:

The healthcare professionals can get imprudent details and analysis of human anatomy using the realistic virtual environments or the virtual models. This will help both the newbie and the high profile professional in performing complex body analysis or operations. Also the doctors can get a 360 degree view of the surgeries performed and can get expert advices in real time, if needed. In addition to this, robots can be used to carry out surgeries in the same manner as a healthcare professional would. Ample of time and resources can be saved by using VR in healthcare.

Architecture:

Apart from software product design, VR have equal potentials to innovatively change the way architects design their buildings. The engineers can experiment with a plethora of designs simultaneously with a full of every aspect that is needed in the design of the building. They can use various things such as lightning, material and its layout and can also take their customers on a virtual tour, so that they can have a better insight by feeling and experiencing every detail of the designs. Through VR, there will be better communication between the contractors and the builders regarding what to expect in the design of the building in its final form. Editing the design before or during the procedure can be done easily through VR.

Tourism:

VR will allow well guided overview to the tourists from all-round the world. It can also provide the facility of “try before buy” packages to the tourists. Virtual reality will be emphatically capable in recognizing the remotest of the places and will help the tourism industry exploring new destinations so that they can provide various options to their customers. The hospitality firms will also be able to showcase their destinations and accommodations in a more intuitive manner.

Final Words
Virtual Reality by far will play a very important role in exploring new horizons and destinations for business related to any aspect. It will change the way the future generation will get their education and will also alter the methods in which the customers will interact with the brands. It will be an important aspect in enhancing military practices and help the soldiers in the time of war as well.