The Yoga 3 Pro processor and BIOS support virtualization. That allows using any of several virtual machine host software applications including VMWare, Microsoft's Hyper-V, and others. Virtualization is enabled or disabled via the BIOS setup utility.
Before accessing BIOS fully shut down the laptop. Windows 8.x uses a mode - Fast Startup - more like hibernation than a traditional shutdown. That makes for very quick startup but can cause issues when changing BIOS settings. Changing the hardware state while "hibernated" (or touching the file system) can lead to some obscure and unpleasant issues.
To fully shut down a Windows 8.x computer, hold down the SHIFT key while selecting shutdown from the power icon's pop-up list. This can be done from Win 8's "modern" start page, from the Settings charm, or from the login screen.
Once that's done, restart the laptop via the Novo button. Just press the Novo button - don't touch the power button.
That should bring up this little menu:
Select "BIOS Setup" to get the the main BIOS screen. From there, select the "Configuration" tab and "Intel Virtual Technology" Select "Enabled" if it isn't already enabled, and hit ENTER. Then to the "Exit" tab, and "Exit Saving Changes".
NOTE: many computers require a full power-off, power-on restart after enabling virtualization. If that isn't done the OS and apps don't see it as enabled. The Yoga 3 Pro's BIOS doesn't seem to require this. If you enable virtualization but the virtual host software complains that it isn't enabled, go through a full power-off, power-on reboot using the SHIFT+shutdown described above.
If virtualization isn't enabled or isn't seen as enabled (see Hyper-V note below) a virtual host will refuse to run, or will run in a limited mode. As an example, this is what VMWare Player indicates:
Hyper-V NOTE: if Microsoft's Hyper-V is available and enabled it will "hide" the fact that virtualization is enabled from other virtual host software. VMWare for instance will throw the "no virtualization" pop-ups above if it is run while Hyper-V is enabled. Hyper-V is only available when Windows 8.x Pro is installed.
To enable or disable Hyper-V (on a machine that supports it) use the "Windows Features" tool. It may be necessary to do a full power-off, power-on restart after changing the Hyper-V enabled state.
An example of a Yoga 3 Pro with VMWare Player running three virtual machines: