SAP talks in-depth digital twin innovation, and how this will drive half of the world companies by 2021
Developing a digital twin for your company means representing digitally as many physical components of your business as possible. Such an innovative move would provide extended insight around the companies’ products, assets, processes, operations, and more.
How is the digital twin technology implemented?
By “attaching Internet of Things (IoT) sensors to their products, assets, or equipment”, the companies that have set course for a next-gen future gain an accurate view of their operations, being able to use “digitalized versions of bills of materials, 2D drawings, and 3D models”.
Of course, all the data collected through sensors needs to be filtered, processed and turned into intelligible and useful insights. A powerful, intelligent software pairs up with the sensors, and the goal is delivering the most accurate and to-the-point information that would fuel the best operational and strategic business decisions.
What are the immediate benefits in having a functional digital twin for your company?
Since all possible operations, tasks and data-producing processes get mapped out in a digital environment, the big picture is clear, and even more. The way your processes interact, the causality chains and the real time events are part of this image. Due to the attribute of interactivity, those who monitor can also intervene and make improvements almost instantly.
The long term benefits, as identified by SAP
Since the SAP solutions are tailored specifically for this type of digital transformation that we expect when we thing of the future of business, and the company also receives client feedback, SAP is perfectly positioned to see what are the long term benefits.
In short, these are:
– Data-driven decision making
– Business process automation
– Increased collaboration
– New business models
For examples of the digital twin technology in action, you may consult the source article on Forbes.
(Image credit – the same source)
Creating a digital twin network makes it easy to share data with internal colleagues, external supply chain partners, and even customers. With access to the same insight, you, your partners, and your customers can collaboratively improve products, processes, and more.
Sharing digital twin data with multiple internal departments ensures everyone’s always on the same page. Your R&D, finance, marketing, and sales teams – groups that typically work in silos – can collaborate to ensure your new product is properly designed, accurately priced, sufficiently promoted, and commercially viable.