Virtual Reality Financial Visualization System
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Solution Overview
Problem
Communicating the impact of investment or savings strategies to clients is challenging due to numerical abstractness, limiting their understanding of long-term effects, and requiring a more engaging method to facilitate financial planning decisions.
Innovation Solution
A computer-implemented method and system utilizing virtual reality to simulate financial scenarios, allowing users to interact with environments that represent their goals, displaying progress towards financial objectives over time, and adjusting visual clarity based on financial progress, thereby enhancing user understanding and engagement.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Loss of information
If numerical values are used to communicate investment or savings strategy impact, then information can be provided concisely, but client understanding and engagement are limited due to abstractness
Solution Approach 1:
The patent creates virtual reality copies of real-world environments (such as a virtual vacation destination or retirement lifestyle scene) to represent financial goals. These virtual environments serve as tangible substitutes for abstract numerical data, allowing clients to visualize the concrete outcome of their savings strategy without dealing with complex numbers. The virtual reality simulation copies the essence of the financial outcome into an immersive experience that is intuitively understandable.
Solution Approach 2:
The patent transitions financial information from a two-dimensional numerical representation to a three-dimensional immersive virtual reality environment. By adding the dimension of spatial presence and environmental context, the system enables clients to understand financial concepts through spatial relationships and environmental immersion rather than through abstract numbers, thereby improving comprehension and engagement.
2Loss of information
If long-term financial impact is communicated using numbers, then comprehensive data can be provided, but client engagement and motivation are reduced
Solution Approach 1:
The system creates immersive virtual reality copies of future lifestyle scenarios that clients will experience once their financial goals are achieved. These virtual environments capture the essence of long-term financial success in a way that is emotionally resonant and engaging, transforming dry numerical projections into vivid experiential representations that motivate clients to stay committed to their savings strategy.
Solution Approach 2:
The patent allows clients to experience a preliminary version of their future lifestyle through virtual reality simulations before actually achieving the goal. By previewing the virtual environment in advance, clients can emotionally invest in the outcome and understand the long-term impact of their savings strategy, thereby increasing engagement and motivation to maintain their financial plans over the long term.
3Ease of operation
If virtual reality simulations are created to visualize financial progress, then client understanding improves, but system complexity increases
Solution Approach 1:
The patent uses pre-existing virtual reality templates and standardized environmental models to create financial visualizations, rather than building custom virtual reality worlds from scratch. By reusing proven virtual reality assets and following established development frameworks, the system reduces the complexity burden while still delivering compelling and accurate financial progress visualizations that enhance user comprehension.
Data Source
AI summary
A computer-implemented method, device, and system for communicating an impact of a financial decision or an investment strategy to a user through the use of virtual reality are provided. Providing a context for figuratively ‘seeing and feeling’ the results for a proposed financial strategy may assist the user in better understanding the impact of the financial strategy. Information provided in this context may educate the user with regards to the amount of income or savings required to achieve a goal over a time period. A goal for a user may be displayed as an image in a virtual reality scene based on gathered user information. The image representing the goal may be displayed according to a percent of clarity based on the financial amount needed to achieve the goal. The image may be changed based on the amount over a perceived virtual reality time period.