What is Digital Twin Technology and What Are Its Benefits
Definition of Digital Twin and The Meaning of This Technology
Digital Twin is a digital representation of a physical object (e.g. aircraft engine, person, vehicle) or an intangible system (e.g. marketing funnel, fulfillment process) that can be examined, altered and tested without interacting with it in the real world and avoiding negative consequences. Think of it as an online platform for testing, creating and altering objects that are based in reality, without engaging with them in reality itself. Technologies similar to Digital Twins have been used in various industries long before the concept of “Digital Twins” was created, however, this new concept has much more potential, power and scalability that can replicate, monitor and test virtually anything you can think of.
Why Digital Twin Technology Is So Beneficial?
The rise of the Internet of Things (IoT) has complimented the adoption of digital twin technology, as IoT has resulted in its cost-effective implementation. Digital twins have become imperative to business today, consistently named as a strategic technology trend in recent years. The complexity of the technology has led to many questions within the industry. What is digital twin technology? What are the benefits of a digital twin? How is it changing the way design, planning, manufacturing, operation, simulation and forecasting is traditionally functioning?
A digital twin is a near real-time digitized copy of a physical object. It is a bridge between the digital world and the physical world. Its core use is to optimize business performance, through the analysis of data and the monitoring of systems to prevent issues before they occur and prevent downtime. The simulations that are produced will help to develop and plan future opportunities and updates within the process or product. The benefits of digital twin technology are astronomical, with industries such as agriculture, government, transportation and retail experiencing rewards from the technology and benefits going forward. Here are the reasons how and why digital twin technology is benefiting business.
Future Use Cases of Digital Twin in 2018 and How It Works
Companies must find methods to prevent the risk of potential product defects among their assets and future products. Digital twins allow production costs to be minimised, as companies will save expenses when products are right the first time. There is no need for expensive physical tests or updates to the products or process. Research with manufacturers has found that digital twins will enable the reduction of development costs of the next generation of machines by well over 50%. Digital twins provide added confidence to boost product performance and aid complex decisions, preventing costly downtime to robotics and machinery.
Increasing Productivity and Becoming More Time-Efficient By Creating Digital Twins
A core benefit of why companies use digital twins is due to its efficiency. Businesses are racing to market their product faster than their competition, and digital twins help the situation immensely. Digital twin technologies will be able to anticipate how the product and process will perform through digital simulations and analysis. The accessibility of reliable and consistently updated information provides the assurance needed to make faster decisions and increase the speed of production to overtake competitors.
Future Impact of the Technology For Employers and Businesses
Offices that adapt to the future of digital twin technology early will attract innovative and leading talent. Offices with digital twin technology will be able to incorporate interactive features to improve employee satisfaction and productivity. Employees who will use digital twin technology will be able to expand their engagement with online tools, such as interactive maps to locate colleagues on the floor, book meetings and complete tasks with more diligence and accuracy. Managers will also be able to supervise remotely with the tool that will be similar to a 3D map that will be created using Digital Twin online platforms. It is evident that the digital twin concept will benefit many people within the supply chain. The modernization of technology with IoT and digital twin technology is an incredible opportunity for businesses to improve. Ultimately, the benefits of digital twins will allow stakeholders to improve the overall efficiency and cost of their business, and improve many aspects of work for employees.