One of the major driving forces behind the development of new products is the needs/requirements of business. Businesses are constantly striving for new and improved ways of saving money and time. Using virtual reality, hundreds of small businesses, many large corporations, and private individuals see a way of improving their organization. They can reduce their costs, increase their decision making capabilities, and become more directly involved in communicating data with others.
Virtual reality offers many improvements and inexpensive alternatives to present systems which are being used in the industry. Some of the major areas in which virtual reality is having its effect are in spreadsheets, the stock market, information management, virtual designs, and virtual prototyping. Businesses can customize the way they represent and communicate real and abstract data with their employees, allowing them in utilizing their natural talents to their maximum potential, thus giving better results.
The concept of VR is perfect for virtual tours; an estate agent can guide a potential buyer through a new home, pointing out its best features in real time. ‘Common Floor Retina’ aims to do just that. CommonFloor.com , India’s leading online real estate platform introduced ‘Common Floor Retina’, world’s first virtual reality innovation in real estate. The application offers ‘real’ property experience for the seekers allowing them to view/review/assess multiple properties from anywhere at any point of time.
Companies and industries have traditionally made it a high priority to manage their finances. ‘Spreadsheets’ for example, allow business people to simulate the behavior of their markets, products, and competitive companies. They can model and monitor the accumulation, distribution, and investments of their properties.
The creation of a large scale virtual spreadsheet where information encompassing many variables, can be interactively modified and examined, might be the justification for many businesses to purchase a virtual system. The company users would have the ability to “experience” several days or weeks of a company’s activities in just a matter of minutes.
The stock market deals highly in vast amounts of abstract data. Money managers are constantly looking for more effective ways to condense and streamline the way abstract information reaches them. Virtual reality offers the ability to creatively express the many variables of this information in real time. The users can then organize the information in ways such that relationships between variables can be visualized in 3D, like never before.
Future Prospects for Virtual Applications in Business look Bright-
Although businesses and industries are very excited about the advances of virtual reality, the systems need more work before they can become a common tool. The Big Three auto makers have much interest in VR and hope that virtual reality improves, such that they can integrate engine design, manufacturing, and servicing in a single virtual environment.
Future VR enhancements to the business environment can potentially go in many directions, but one interesting notion is of the virtual meeting. Corporate meetings between individuals who are long distances apart have typically taken place in person, where individuals travel to a common location, or through crude forms of telepresence like teleconferencing. The result is that corporations are realizing that some meetings which in prior times had to be conducted in person could now be conducted much more economically through telepresence.