Business leaders are in a constant state of flux as companies seek proactive solutions in their decision-making to protect interest and build resilience. Answers to market questions are demanded at speed, and rapid decision making is required to adopt to changes happening everyday with the spread of COVID-19.
Focus on technology solutions
As the overall strategy shifts to navigate the economical challenges of the pandemic, digital transformation provides different solutions to control costs, improve efficiencies and business continuity. While technology implementation is a cornerstone for digital transformation, process optimization and people upskilling are two other foundational cornerstones to execute on digital strategy. Technology solutions are the focus.
Use Digital Twin to simulate change
Digital Twin of Organization (DTO) is a solution to enable business transformation leveraging AI technology and Machine Learning. Digital twin concept originally came from manufacturing industry, and is now used across industries to simulate change in live digital simulation. Users see results in real time before making the decision with far reaching consequences in the real world.
DTO enables experimentation that is not possible through traditional methods. Companies today can arrive to the resulting insights quickly and gain a better picture of how each part of the business is impacted by these decisions. In a world that is increasingly defined by data and machine learning, DTO application can access real-time data across business units in the enterprise, which will allow process transparency and to empower data-driven decisions.
Considering the impact of COVID-19 on supply chains, DTO is a tool that will allow businesses to scan and identify concerns in areas impacted, and gain insights on related issues that are rising as a result.
Overcome obstacles before they happen
Whether implementing a new strategy, facing rising industry costs, evolving the workforce to be more competitive or dealing with general organization ineffectiveness, a business can mitigate risk, allocate resources – or change course of action – to overcome obstacles before they even happen.