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Virtual Reality Technology and What it Brings to Corporate Training

 

Posted on Mon, 08/20/2018 - 07:05

Virtual Reality represents an exciting new technology that impacts virtual learning and training. Forbes reports that “up to 75 percent of the business brands are using virtual reality apps.” The future looks bright with large companies like Facebook and Microsoft investing millions into the technology.

Long associated with the gaming industry and viewed more as entertainment than a business tool, corporate professionals are now waking up to the positive benefits of using this technology in training. As a less expensive training alternative when compared to more traditional elearning courses or simulations in real-time, there is substantial optimism about this new way of doing business in the workplace.

Education, healthcare and corporate interests are all taking a hard look at virtual training as a new business tool. In specific high-risk occupations where a mistake on the job can cost a person their life, virtual learning offers a unique solution for avoiding accidents while providing on-the-job training that incorporates the sights and sounds of real-world situations. This training method is currently being used to teach high-risk workers such as firefighters, police, surgeons and astronauts; to name a few.

virtual reality training

Costs Versus Benefits

You have to always evaluate the costs versus the benefits when considering a new business strategy. That's good news for this "up and coming" industry according to Trainingmag.com. Brandon Hall Group reported in Trainingmag.com that an average of $2000 was saved by using virtual learning methods over more traditional elearning courses.

While the initial upfront cost can seem expensive at first, once you factor in use over time, the cost is recouped quickly. The initial outlay pays for equipment that can be used for years. Learners can work at their own pace and take the course over and over again until they feel confident they have mastered the information.

Major Benefits

There is no doubt that cost effectiveness is a major reason virtual reality training is popping up in the corporate and medical worlds, but there are other benefits that also justify this shift. Safety ranks at the top of that list, according to elearningindustry.com. When training pilots or doctors, it makes perfect sense to limit the possibility of danger by using virtual training techniques instead of learning on-the-job where people's lives are at risk.

One of the main reasons companies believe in virtual reality is because of its capacity for customization. One-size-fits-all training packages rarely teach all of the methods and strategies that a specific company deems important.

Convenience is another reason cited for taking a serious look at virtual reality. Unlike more traditional training seminars and workshops where travel is essential, this type of training is available on demand and on-site. It is hard to argue with training solutions that save time as well as budget dollars.

Virtual reality in corporate training makes learning more enjoyable. It's no secret that engaged students learn and retain more of what they learn for a longer period of time. With virtual reality learning solutions, audio, tactile, visual and kinetic learners are all engaged.

Industry Trends

While virtual reality technology has been in existence for over 30 years, it is just starting to make its mark in the commercial sector. Certain high-consequence industries are embracing it faster than others. These high-consequence businesses are defined as industries that are highly-regulated.  Training.com reports a 66 percent increase since 2016, in use of these learning tools in high-consequence industries.

Other corporate functions that represent fertile ground for virtual reality learning tools are advertising and marketing. Most notably, Jaguar used virtual reality technology to introduce the 1-PACE Concept. There is little doubt that other companies will also be turning to this type of marketing strategy, especially at trade shows and other marketing events. Promo reels and mini-games also play a part in virtual reality promotional campaigns.

Training.com reports that Group's most recent Compliance Training Survey results showed that out of high-performing companies, nine percent are already using virtual reality tools, when compared to a lower six percent of all other companies. New ideas can be slow to take hold, even when they are apparently good business moves.

Training.com reports that 18 percent of businesses operating in the high-consequence space are ready to take action, with 30 percent following behind and preparing to take action.

Conclusion

There are a variety of opinions about virtual reality and how it will fit into the world in terms of commercialism. Considering the proven cost effectiveness and safety benefit of virtual reality in corporate training, it is highly plausible that virtual reality will become a leading method of training and marketing. Once the leaders set the standard, then it is not uncommon for the rest of the industry to jump on board.

Contact the experts at Designing Digitally today to talk more about virtual reality and how it could improve the training developments at your organization.

By Designing Digitally, Inc.