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: