Measuring return on investment (ROI) with augmented reality (AR) can be challenging, as it often involves evaluating both tangible and intangible benefits. Here are some ways businesses can measure the ROI of their AR investments:
AR can improve worker efficiency by reducing the time and effort required to complete tasks. Businesses can measure this by tracking changes in task completion times and the number of errors made before and after the implementation of AR.
AR can be used to provide more engaging and effective training experiences, which can result in a reduction in training time and an increase in the number of skilled workers. These benefits can be quantified by tracking changes in training completion rates and the speed at which workers become fully operational.
Enhanced customer support
AR can be used to create more engaging and interactive customer experiences, which can lead to increased customer satisfaction and loyalty, while reducing issues. Businesses can measure this by tracking customer feedback and the number of repeat customers, and reduction in support requests.
AR can help reduce costs in a number of ways, such as reducing the need for physical prototypes, mock-ups, or training equipment. Businesses can measure these cost savings by tracking changes in spending on these items before and after the implementation of AR.
AR can be used to create new revenue streams or increase existing ones, such as by creating new products or services offered to clients with AR. Businesses can measure this by tracking changes in revenue before and after the implementation of AR or addition of AR services.
Overall, measuring the ROI of AR investments requires businesses to track both tangible and intangible benefits over time and compare these benefits to the costs of implementing AR. This can help businesses determine the value of their AR investments and make informed decisions about future investments in this technology.