How do you measure ROI for interactive 3D training?
Well, it depends on which variables you want to measure and when it comes to employee training there are many including enhanced productivity, cost savings, increased product innovation, improved retention rates, higher employee morale, and more.
For instance, Lee Company, a building systems company, used digital reality to reduce the number of repeat visits from technicians. As a result, the company saved over $500 per month per technician due to reduced labour and travel costs. For every dollar they’ve invested in their digital reality training technology, they’ve saved $20.
Similarly, Newport News Shipbuilding, used digital reality to reduce inspection times of U.S. Navy aircraft carriers by 96 percent.
Your success ultimately depends on your chosen metric.
Laying the groundwork for measuring your return on investment
Digital reality for training purposes is an emerging use case, meaning specific numbers for each field aren’t available. Moreover, there are many companies who don’t diligently track their ROI, making it difficult for other companies to learn from their experience.
Consequently, companies interested in transplanting the digital reality training success stories from other industries to their own must determine what criteria they wish to measure. They can do this by using the standard training ROI formula as a jumping off point:
Choose the appropriate technology for specific goals
Assign the right digital reality technology to the right training use cases. For instance, while virtual reality has exciting use cases in retail, medicine, and oil & gas, it may not be the best fit for a mobile workforce trying to refresh their knowledge on their own schedule.
That said, there are also instances where interactive 3D streaming must work within a larger digital reality training ecosystem. For example, in medicine, VR may be more suitable for situations where practicing motor skills are essential.
And of course, there are other digital reality situations to consider, including augmented reality (AR) or mixed reality (MR) solutions.
Overall, a holistic approach that incorporates trends in remote working and mobile technology is the best way to introduce hyper-realistic, interactive 3D training to your workforce’s training suite. As industry benchmarks become more widespread, your team will have greater data to measure your training project’s success.
Interested in learning more about how interactive 3D modules can enhance your organization’s digital training program? Download our latest whitepaper How real-time 3D simulators supercharge online training for a mobile workforce.