Why Using Digital Twin Technology In Business Will Help Accelerate Growth

By Carlos Miskinis

8th of January

What Are The Benefits of Using Virtual Twins In Your Company?

If a company starts to invest their focus and resources into developing a Digital Twin model of their business fulfillment processes, services, products, customer relationship management activities and other processes they utilize to run their business, they are fully capable of developing a digital prototype of every single step they take in order to fulfill for their customers, which enables them to test, experiment and explore new methods of running their company that are based on pure data – not human thoughts.

The whole practical idea of a Digital Twin is to simulate reality in order to test new concepts without facing the real consequences of executing the same tests in the real environment which can prove themselves to be costly and dangerous. Let’s dive deeper into the main benefits of using Digital Twin tech in business.

 

incorporating digital twin simulations in your business

 

It Helps Eliminate Defects In Products and Improving Service Delivery

When it comes to product-based businesses, product development expenses and the costs that occur when products malfunction can take a huge financial toll on companies. Moreover, when it comes to fixing the problems that cause a specific percentage of products to malfunction, it can only be determined by heavily investing in research and product development. In today’s world, most businesses have not yet experienced the advantageousness of Digital Twin technology and how cost-efficient it is to do the necessary tests on virtual clones of a product rather than the product itself. By engaging in cloning the service process of your company or its products, an enormous amount of potential for improvement will present itself.

One of the biggest advantages of Digital Twin tech is the ability to improve your products/services by examining their virtual prototype. The clone itself can be reassembled, new features can be added to it and most important of all, the entire testing process can be monitored and logged in order to track down the specific steps that resulted in progress along the way.

On the other hand, if you are a service based business, Digital Twins will allow you to experiment with material acquisition processes, create split tests on how to best utilize your equipment in order to eliminate unnecessary costs, experiment with different outsourcing opportunities and explore additional ways on improving your fulfillment process.

 

using simulations to optimize product productivity

 

Improving Customer Fulfilment Processes Using Digital Twin Simulations

Digital Twin technology platforms are fully capable of creating systems in order to replicate the same processes you use to deliver to your customers or clients. By engaging in this type of testing activity and gathering data, you will be able to pinpoint the exact “bottlenecks” in your business that are either costing you capital or are hindering the overall process of fulfillment. The main issue that is preventing business owners from utilizing what Digital Twin technology has to offer, is the unwillingness to invest the time, effort and capital to build an understanding of how it works. However, companies who commit themselves to this new opportunity tend to achieve vast progress in all areas they decide to test according to the case studies we have accumulated.

 

monitoring service and equipment

 

Want to learn all the benefits of using this tech in your company and hear how the biggest industry giants use it to accelerate their business? Check out our event here and join the disruption.

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Carlos Miskinis

Digital Twin Research Expert