Measuring the ROI of immersive learning
Nowadays learning solutions have to be accountable. It becomes important to point out the return on investment. There are several ways to measure the ROI of immersive learning.
Research shows experiential learning is more effective than any other form of learning. Learner’s typically remember 90 percent of what they experience. This is because the learner is actively engaged in the learning experience. But, if experiential learning is not possible, simulating the same experience is the second most effective option.
Meaningful information on return on investment
However, in real world settings, measuring experiential learning and behavioural change can be difficult. Often, training methods are contingent on an instructor or mentor’s expertise and methodology. This can be an unreliable and highly subjective measure of performance.
Immersive learning can provide structure and enforce consistent standards for learners, as well as provide meaningful information on ROI.
Standard measurements provided in all immersive learning applications are Level 1 Satisfaction (did the learners enjoy the training?) and Level 2 Learning (did knowledge transfer occur?). Level 3 Impact (did the learners behaviour change as a result of the training?) and Level 4 Results (did the training have a measurable impact on performance?) are more case specific. These levels can best be measured by qualitative (ie. interviews) and/or quantitative data (ie. performance metrics, sales numbers, customer satisfaction). Level 5 ROI (did the training investment provide a positive return on investment?) can be measured by comparing the upfront development cost of the immersive learning application against the Level 3 Impact and Level 4 Results.