Before diving into immersive technologies like augmented reality (AR), virtual reality (VR), and mixed reality (MR) for training and education, it’s essential to assess feasibility and determine the potential return on investment (ROI).
In a previous post, Boston Engineering asked you to Explore Immersive Technologies in Customer Training, Education, and Engagement.
Central to the article was highlighting the training and education challenges your organization is facing. Immersive technologies have emerged as powerful tools to fill gaps in your training, education, and customer engagement strategies, and create hands-on, engaging, and scalable training experiences.
How can you asses if Immersive Technologies are feasible in your applications? How will you know if they can provide the returns your organization needs?
Below is a comprehensive guide on how to evaluate the feasibility of immersive technologies and calculate their ROI for your training and education programs.
What is Immersive Technology? Immersive Technology is the interaction of advanced software, devices, and data allowing users to experience information in new and empowering ways. Augmented Reality, Virtual Reality, and Mixed Reality from Boston Engineering are tools available today to elevate your organization’s capabilities, competitiveness, and agility.
Immersive Technology addresses today’s operational, service, and sales challenges with a nod to the future of business: better information and faster delivery that strengthens companies against uncertainty, while building competitive advantage.
Learn more about Immersive Technologies at Boston Engineering
Assessing Immersive Technology Feasibility
To determine whether immersive technology is a viable option for your training needs, consider the following factors:
Identify Training Needs and Challenges
Before investing in immersive technologies, identify specific training needs where AR, VR, or MR could provide significant value. Ask yourself:
- Are current training methods ineffective or insufficient (e.g., too complex, boring, or costly)?
- Do your employees need to practice dangerous tasks in a safe environment, such as working with hazardous materials or operating heavy machinery?
- Is it expensive or impractical to recreate real-world training environments?
If you answered "yes" to these questions, immersive technology could offer a better solution by providing engaging, risk-free, and cost-efficient alternatives to traditional training.
Evaluate the Learning Environment
Consider whether your company’s existing infrastructure can support immersive technology:
- Do you have the necessary hardware (headsets, motion sensors) and software platforms to implement AR/VR/MR training?
- Will your employees need special training to use these devices, or are they already comfortable with digital tools?
- Is your IT team capable of managing, maintaining, and troubleshooting immersive systems?
If your current infrastructure is lacking, factor in the costs and time required to update it before adopting immersive solutions.
Consider Scalability
Immersive technology is ideal for companies with large or geographically dispersed workforces. Determine whether the solution can scale:
- Will the technology support centralized, uniform training across multiple locations or time zones?
- Can immersive content be easily updated and distributed as training needs evolve?
Evaluate how scalable and adaptable the technology will be as your company grows or diversifies its training programs.
Analyze Cultural Fit and User Adoption
Introducing immersive technology requires buy-in from both leadership and employees. Consider the following:
- Are company leaders supportive of new, cutting-edge training methods?
- Will your employees embrace immersive technology, or will there be resistance due to unfamiliarity or perceived complexity?
Make sure you have a clear change management strategy and user training plan to ensure smooth adoption.
Calculating ROI of an Immersive Technology Investment
Once you’ve determined that immersive technology is feasible, the next step is calculating the return on investment (ROI). This involves both direct and indirect factors, including cost savings, employee performance improvements, and long-term business benefits.
Identify Costs
To calculate ROI, start by identifying the total cost of implementing immersive technology. This includes:
- Hardware: Costs for VR/AR headsets, motion sensors, and other equipment. Depending on the scale of your training program, these costs can vary significantly.
- Software: Licensing or development costs for immersive training platforms. Custom-built software may involve higher upfront costs but offer greater flexibility.
- Content Creation: The cost to develop customized VR/AR training modules, which could include 3D modeling, scenario programming, and interactive elements.
- Training and Support: Costs associated with training employees to use the new system, as well as ongoing IT support and maintenance.
- Integration: Costs to integrate the immersive technology with existing learning management systems (LMS) or other enterprise software.
Measure Benefits
The benefits of immersive technology can be both quantitative (measurable) and qualitative (indirect). Key factors to consider include:
Time Savings
Immersive technology often reduces the time required for employees to learn new skills or processes:
- Reduced training time: Measure how much faster employees can complete training compared to traditional methods (e.g., 30% faster).
- Faster onboarding: Immersive onboarding modules can help new hires become productive more quickly.
- More effective upskilling: Repetitive, hands-on practice in VR environments can accelerate skill mastery, reducing the need for retraining.
Cost Savings
AR/VR can eliminate or reduce the costs associated with physical training environments, travel, and downtime:
- Reduced travel costs: Employees can complete training remotely, eliminating travel expenses.
- No need for physical setups: VR eliminates the need to shut down production lines or allocate physical space for training simulations.
- Scalability: Training multiple employees in immersive environments doesn’t require additional resources beyond the initial setup.
Improved Performance and Retention
Engaging, interactive training leads to better learning outcomes and improved job performance:
- Increased engagement: Immersive training has been shown to improve engagement, reducing the risk of employees zoning out during training sessions.
- Higher retention: Employees retain more information when they learn in hands-on, interactive environments, resulting in fewer mistakes and better job performance.
- Improved safety and risk management: Simulating dangerous tasks in VR can reduce workplace accidents and improve overall safety.
Long-Term Business Value
In addition to immediate benefits, immersive technology can provide long-term advantages:
- Future-proofing your workforce: Immersive tech prepares employees to adapt to digital transformation by familiarizing them with new tools and environments.
- Improved employee satisfaction: Offering cutting-edge training methods can boost morale and reduce turnover.
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Calculate the ROI Formula
Once you’ve collected data on costs and benefits, you can use a simple formula to calculate ROI:
ROI (%) = [(Total Benefits – Total Costs) / Total Costs] x 100
For example:
- If the total cost of implementing immersive technology is $100,000 and the measurable benefits (e.g., time saved, improved performance, reduced accidents) amount to $150,000, the ROI would be:
ROI = [(150,000 – 100,000) / 100,000] x 100 = 50%
This means that for every dollar spent, you gain 50 cents in value.
Next Steps: Pilot and Measure
Once you've calculated feasibility and estimated ROI, the final step is to run a pilot program. Piloting allows you to test immersive technology on a smaller scale before full deployment. Key steps include:
- Select a specific department or training module to pilot the technology.
- Measure performance metrics during and after the training (e.g., time to competency, engagement levels, error rates).
- Collect feedback from employees on usability and effectiveness.
Use the data from your pilot program to refine the immersive experience and confirm whether it’s worth scaling across the organization.
Conclusion
Immersive technologies offer transformative potential for training and education, but it’s essential to carefully assess their feasibility and calculate the ROI before making a significant investment. By identifying your company’s training challenges, evaluating infrastructure needs, and measuring both tangible and intangible benefits, you can determine whether AR, VR, and MR will deliver value. A thoughtful, data-driven approach will ensure that your investment in immersive technologies leads to a more efficient, engaged, and future-ready workforce.
Ready to Start the Immersive Technology Journey?
With the capability of saving time and money in operations, improving field service, and creating efficiencies in your sales process-- Immersive Technologies are currently available to provide an advantage against competition, and a buffer against uncertainty.
Augmented Reality seamlessly blends the physical and virtual, enhancing user experiences by providing additional information and digital elements without completely detaching them from their surroundings. This intuitive integration makes AR an accessible and cost-effective solution across various industries, from education to healthcare to gaming. By overlaying digital content onto the real world, AR empowers users to access valuable insights and engage with information in a more natural and contextual manner.
Virtual Reality offers a completely immersive experience, transporting users into captivating digital realms. VR's high level of engagement and interactivity makes it an ideal medium for applications that require intense focus, such as gaming, training, and therapeutic interventions. By fully engaging the user's senses, VR has the power to inspire, educate, and transform the way we approach challenges and opportunities.
Mixed Reality seamlessly blends the physical and virtual, enabling users to interact with digital elements as if they were physical objects. This enhanced level of interaction and collaboration opens up new possibilities for product design, maintenance, and training. MR is revolutionizing the way we tackle complex tasks and collaborate across different locations.
Whether you’re seeking to meet rising manufacturing demands, offer more efficient training and service delivery, or revamp marketing & sales efforts, Boston Engineering has the tools to tackle these issues head on and incorporate your specific needs. Let us help you create the roadmap to success: Get the full ROI through Immersive Technologies by working with Boston Engineering.
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