THE RISE OF VIRTUAL REALITY AND ITS IMPACT ON BUSINESS

The use of virtual reality (VR) technology has advanced significantly in recent years, its uses now go beyond mere entertainment. Businesses are currently utilizing VR for a range of purposes, from customer interaction and marketing to product design and training. This blog post will discuss the rise of VR and how it affects businesses, drawing from the skills and knowledge taught in our Masters in Data Science program, at Christ University, Lavasa.

One of the biggest drivers of VR's growth is the increasing affordability of VR hardware and software. With the release of affordable VR headsets like the Oculus Quest and the PlayStation VR, more consumers have access to VR than ever before. This has led to an explosion of VR content, from games and movies to educational and training materials. In our Masters in Data Science program, we study machine learning, regression analysis, and probability, which can be applied to optimize and improve the algorithms and models that are used to create VR content.

Another area where VR has the most significant impact on businesses is product design and prototyping. By using VR, companies can create virtual prototypes of their products, allowing them to test and refine designs before committing to expensive physical prototypes. We, here, at Christ University, Pune Lavasa, in our data science program, learn how to use statistical methods like regression analysis to analyze and interpret data, which can be applied in product design to improve the accuracy and effectiveness of VR prototypes. This can save companies time and money, while also allowing them to create better products.

Another area where VR is having an impact is in employee training. VR can be used to create realistic simulations of real-world situations, allowing employees to practice and improve their skills in a safe and controlled environment. As Christites, it is one of our mantras to strive and struggle to be competent and optimal employers/employees in the future that lies ahead of us. Our data science program covers topics like statistics and probability, which can be used to model and predict outcomes in VR simulations, making them even more realistic and effective for employee training. This can be particularly useful for industries such as healthcare, construction, and manufacturing.

Finally, VR is being used in the field of education and research. VR can be used to create immersive learning experiences, allowing students to explore and interact with environments and subjects in ways that wouldn't be possible without this technology. Our data science program covers the use of machine learning and deep learning algorithms, which can be applied in VR education to personalize and optimize the learning experience for each student. In research, VR can be used to create virtual simulations of scientific experiments, allowing researchers to test and analyze data in a safe and controlled environment. Christ University, Lavasa offers a data science program that covers statistical methods, which can be used to analyze and interpret the data collected from VR simulations.

Virtual reality technology is rapidly advancing and its impact on business is undeniable. VR is being used for product design and prototyping, employee training, customer engagement, and marketing. It also has a great impact on education and research. As VR technology continues to improve and become more affordable, we can expect to see more and more companies using VR to improve their operations and enhance the customer experience. The knowledge and skills gained from our Masters in Data Science program can be applied to drive this change and push the boundaries of VR technology.

An article by Rahil Khan, MSc Data Science.