AR and VR are Transforming How We Crunch the Numbers
How we present data and statistical information has come a long way since William Playfair invented the pie chart back in 1801. Erudite representations of live data sets have moved toward interactive visualizations, allowing us to communicate and comprehend facts and figures more quickly and efficiently.
As more data becomes available through advanced techniques for data collection, ways to present it that allow users to amalgamate, manipulate, and understand the information from hundreds of different sources will be needed. As a result, 2D and 3D images on flat screens will no longer meet our needs.
Cue virtual reality (VR) and augmented reality (AR).
AR & VR Enhance Comprehension
Already these technologies are providing us with the opportunity to surround ourselves and interact with data intuitively. They are enabling us to reach out and manipulate what is presented.
Virtualitics is one company developing innovative technology that allows people to visualize and understand data through VR and AR, machine learning, and natural language technologies. Michael Amori, the CEO of the company, envisions VR and AR allowing multiple verticals the ability to analyze and use much more of the data collected.
Currently, most of this information is left untouched due to the complex and time-consuming task of evaluating and presenting information in a clear and comprehensible way. Already some finance, pharmaceutical, and energy providers are testing the technology developed by his firm.
By creating a way to step inside the data collected and visualize multiple metrics at once, we can begin to understand how different functions interact. The presentation of data on a 3D canvas that encompasses the viewer allows for the information to be placed in a sphere we have evolved to intuitively understand: 3D space.
The placement of X,Y and Z coordinates, scatter graphs, and data points differentiated by size, color, transparency and even speed of movement become far easier to comprehend than as currently presented on flat surfaces.
Innovation that Sparks Collaboration
A second benefit to presenting information in this way is the ability to include more than one analyst. It allows for anyone with a headset or other VR/AR hardware to explore the data presented, collaborate, and assist one another’s understanding of it.
Additionally, the very nature of VR eliminates outside distractions. Users are transported instantly from their office to a virtual (and sometimes shared) world made of interactive data sets determined by the VR environment output. Until the headset or other hardware is removed, users easily stay focused on the task at hand.
The Future Looks Bright for AR/VR
VR-enabled data visualizations are being worked on by other innovative tech companies, too. Great Wave has developed their own VR analytics tool with Salesforce to help businesses transform their customer’s experience with their Wave Analytics Virtual Reality app using Oculus Rift hardware.
Other cheaper experiences include Google’s examination of the data associated with the UK’s Brexit matter, requiring just a smartphone and a cardboard headset. Although focused on journalists and consumers, Google’s example gives a clear indication of the direction that data visualization will take with VR and AR. Additionally, it shows the potential for this technology on everyday devices, like mobile phones. Simply by programming apps for iOS, companies can disseminate their AR/VR experiences to those interested in visualizing the data for themselves.
In business terms, VR and AR are poised to become game changers. By allowing us to process and act upon the vast amounts of data already collected each day, it will enable better decisions and more enthusiastic buy-in from consumers and investors alike.
