During the 1950s, Business Analysts across organizations spent time collecting and assembling data, but not analyzing it. Fast-forward to the mid-2000s and things have changed drastically as companies like Google and Facebook began collecting and analyzing customer's data to create new experiences. Currently, we are at a juncture, where the intermingling of Data Analytics in XR technologies can help organizations to decipher patterns and behaviours of the users at an unimaginable scale, which otherwise would have been a laborious job.
With XR technologies consisting of VR, AR and MR tools gaining popularity across enterprises, we are also seeing the demand for Immersive Analytics to find answers to the questions like how can a learner acquire information and recall it afterwards? How do consumers decide which product to buy and which ones to discard? What causes someone to make an unethical decision over the ethical alternative? In this article, we will be discussing the future of XR and Data Analytics, which has ushered in a novel procedure for organizations to make strategic, tactical and operational organizational decisions.
Redefining Traditional Marketing Research Methodologies
The technological convergence of Data Analytics and XR technologies can bring a new dimension to Marketing Research. Marketing Researchers have been using traditional methodologies such as Focus Group, Surveys, Questionnaire and Interviews to understand factors that influence consumer behaviour; however, such methodologies haven't had any innovation for the past few decades. This is where XR can come into play. With the help of XR technologies combined with eye-tracking, researchers can analyze cognitive activities like how customers engage with the products, what influences their purchase decisions, which marketing features attract them the most. Moreover, with XR it is also possible to perform a virtual prototype testing of a new store, product, and planograms to collect customers' reactions.
Digitalizing the Workplace Training
XR enabled training can help organizations capture psychological and physiological data. Immersive learning simulation combined with data analytics and biofeedback devices can help in training employees by evaluating, analyzing and reporting their heart-rate, movements, errors, and other involuntary actions. Imagine a scenario, where a pilot is immersed in a simulated virtual cockpit using VR headset to practice flight procedures. With the help of a Data Analytics software, instructors can gather pivotal data sets that can further help them to assess a pilot's competencies and predict pilot's decisions during challenging circumstances. On the other hand, AR apps can be used to predict future conditions of the machine and make strategic decisions based on the prediction.
Conducting Scientific Research with Statistical Analysis
XR tools allow researchers in the field of Science to view and share data in an unprecedented manner. It can help researchers to visualize the structure of complex molecules and gather data to develop antidotes for various diseases. For example, researchers at C4XD have been using VR technology to develop medicines that can treat diseases like Dementia and Chronic Respiratory Conditions. Moreover, researchers can make use of XR tools combined with neural implants to view patient data and conduct a preoperative evaluation before planning a high-risk surgery.
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