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Five Ways Virtual Technology Is Making Higher Profits A Reality

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There’s no denying the impact virtual reality (VR) is having on industries outside of entertainment. What was originally perceived as basically a gimmick for hardcore gamers, VR quickly found its way into practical uses in industries one wouldn’t have originally thought possible.

With VR, businesses outside of the gaming industry are finding ways to operate in a more efficient manner, resulting in larger profit margins and better results for customers.

Here are just a few examples of how businesses in a variety of industries are using VR technology to cut costs, increase productivity and boost profits.

1. Educating Employees

Implementing new employee training programs, particularly in the manufacturing and service industry, is expensive for any business. That’s why immersive training startup STRIVR built a VR tool that educates and teaches employees new job functions using virtual wearables like Oculus Rift.

Industry giants like Walmart and PepsiCo are now onboarding new employees using this VR technology, eliminating the need for long, expensive training sessions powered by a human workforce. The system walks employees through real-world scenarios while they wear a VR headset so they can experience, participate in and learn from real-life situations without the risk of making costly errors.

2. Visualizing The Future

Nothing hurts a retail store more than pouring heaps of money into a new floor plan or advertising display, only to see minimal return on investment or even losses. That’s why InContext Solutions, which creates VR for retailers, developed a cloud-based VR platform that allows retailers and brands to virtually build out and evaluate new in-store concepts with real shoppers — before taking those ideas to market.

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