Pros and Cons of Using Virtual Reality (VR) in Business

As a forward thinking business, endeavouring to stay relevant, current and future proof, you need to accept and embrace changes in policies,...

As a forward thinking business, endeavouring to stay relevant, current and future proof, you need to accept and embrace changes in policies, trends and technology. Evolution is the key to business survival. If you hold on to traditions and old fashioned methods, you run the risk of getting left behind the competition, of becoming outdated and irrelevant to modern audiences. This is going to have a negative effect on your success, and you’ll see the consequences in your sales and profits. Therefore, it’s becoming essential to stay informed and educated on the best technologies and methods to adopt.

One such technologies is that of virtual reality. This is one of the newest technology trends that is taking over all kinds of industry and it’s not just for gamers and players. Virtual reality is changing the way that people interact with each other and the world around them. Even global brands like Google are using virtual reality in their business proceedings. The technology behind the venture is improving and growing all the time, opening more and more opportunities for businesses of all kinds, from different fields of industry. Systems like Oculus Quest 2 for business are changing the ways that companies interact with their customers, their partners, and even within their own activities. Could virtual reality be a winner for you and your business? As you explore the advantages and disadvantages of using virtual reality within your business, you will be able to see whether the investment is worth it.

Advantages of Virtual Reality in Business

The advantages of virtual reality in business are closely linked to the applications that it can be used for. It has the potential to relay information in a way that has never been seen before and thus is incorporating interactive elements into various different services. We will consider just a few pros in the information to follow.

Virtual communication: Meetings and conferences are shifting to virtual platforms, especially since the pandemic necessitated it. To improve video conferencing, virtual reality can bae used to make a virtual interactive environment which will enhance teamwork and communication. If employees can’t make an important meeting, virtual reality can bring everyone together in a virtual conference room. In dangerous weather conditions, or in cases of illness or natural disasters, staff are kept safe in virtual environment. Furthermore, interviews and training is greatly improved by the implementation of virtual reality technology. Let’s explore the aspect of virtual training in a little more detail.

Virtual training: There are lots of benefits to be had in using virtual reality in a training setting within a business. There are pros and cons even within this avenue that need to be considered, but after some investigation many businesses in various fields are seeing the advantages of proving training in a virtual environment. Learners are involved in a fully immersive experience that helps them to take in the information in a more enjoyable and more impactful way. When training in the use of dangerous equipment, virtual reality keeps learners safe while also reducing the costs involved with in person training. Furthermore, virtual reality has a massive potential for adaptation, as the scenarios and models are easy to expand or modify, meaning training can be tailored to the specific need of a business team.

Disadvantages of Virtual Reality in Business

While there are many advantages to using virtual reality within a business, in order to make a wise and balanced decision it’s important to consider the disadvantages too. When you have the information, you need to weigh up the pros and cons, you can make a well informed decision that will be for the benefit of your business and its future. We will consider just a few cons to be aware of in the information to come.

The costly investment: Virtual meetings might sound like a great alternative, especially when the weather is bad and team members want to catch up while staying in the comfort of their home, however the luxury comes with a cost. Small businesses might not be able to justify these expenses, forking out the funds to buy headsets or goggles for all their employees. Due to the fact the virtual reality is still in its early stages, the price of equipment is expensive and only going to increase as technology improves.

The lack of reality: Virtual reality might be great, but it’s not quite the same thing. While it can recreate an experience in real time, it leaves the participants without the ability to experience all the five senses at the same time, as we would in a real life situation. Some participants have a feeling of disconnection, with limited interactions and less meaningful conversations. Technological developments will always lack something that real life experiences can bring.

Get On Board Now

If you have the funds, and the need, to set up a virtual reality element for training and communication purposes, now is the time to start using virtual reality in your business. Due to the various benefits that virtual reality provides, the technology looks as though it is here to stay. According to recent research, the virtual reality market is set to see a growth of 48.8 per cent by the year 2025. The demand for virtual reality is high and growing, and as such providers and developers are needing to produce more options and solutions for companies to implement and make use of. The cycle of supply and demand will increase moving many businesses to jump on the band wagon and make the switch to virtual reality. Once you know what you’re getting into, the prospect of making the switch yourself won’t seem so daunting.

1) Do your research: Find out about your businesses needs and budget, get all the data and information you need to implement virtual reality technology.

2) Start on the development: Ensure that you find a provider and solution that will work best for your business and its unique needs.

3) Implement the solution: Try out a virtual reality solution for a trial based period to see how the technology works in practise.