What’s All the Fuss Over Digital Twins?
According to a Gartner survey*, 50 percent of large manufacturers would have had at least one digital twin initiative launched by 2020, and the number of organizations using digital twins will triple by 2022.
Why is there such a growing interest in Digital Twin?
- There is still widespread lack of connectivity in factories globally. According to some estimates, more than 90% of machines in factories globally are not network-connected. Data silos and ineffective collaboration effectively become roadblocks between companies and their business objectives.
- The operational inefficiencies of an unconnected factory come at a high cost. Data is the lifeblood of any organization. Yet, research from global technology market research experts** reveals that many companies experience ineffectual decision making and slow business outcomes because of data silos and ineffective collaboration that impede the ability to fully harness company data. The result is wasted time and resources, duplication of work, and missed opportunities that cost businesses in the US and UK $140 billion each year.
- Companies need a way to enrich their business data. For every physical asset a company has, a digital twin can provide the organization a virtual copy running in the cloud. These virtual copies become richer with every second of operational data. With the right digital transformation tools and platforms in place, organizations can “enrich the broth” of their data and position themselves to maximize ROI through better decision-making, resulting in higher productivity and better outcomes.
Digital twin – while a critical first step – is a means to an end. Connecting all physical assets to create a digital twin is an important step that provides access to your sensor and operational data. However, the real value of digitalization is the ability to use the insights and intelligence hidden in raw operational data to make smarter decisions and take actions. To compete and prevail in today’s marketplace, manufacturers need end-to-end capabilities with easy-to-use platforms (like visual LCNC application development for non-technical personnel) and products/solutions that allow for a high degree of customization that can deliver predictably reliable end results such as speed to value, scalability, improved safety, and greater efficiency.
Having a strategic business partner is key to success. Our clients view us as their strategic business partner, helping them to create a roadmap and strategy for digital twin implementation. If you’ve not already done so, I recommend you look into our Smart Manufacturing suite of applications. These are designed from the ground up to provide all required functionality for the entire manufacturing value chain, from connecting all your equipment and devices to creating a digital twin. Plus, advanced analytics to provide insight about all your operations and to optimize them and/or prevent downtime and maintenance based on AI-recommendations.
Start your Digital Twin Journey with Decisyon. We are in the business of helping manufacturers future-proof their businesses, outfitting them with the products and services that empower them to compete and prevail in their industry space. We can help you to quickly transform to a comprehensive digital environment to elevate/accelerate your business outcomes. Speak with one of our IIoT experts today.
*Report: The High Cost of Disconnected Data (snapLogic and VansonBourne, April 2017)
**Survey Results: Digital Twins Are Poised for Proliferation (Gartner, February 2019)