Digital twins are an emerging class of enterprise software that use IoT technologies to monitor, analyze and control business resources such as equipment, people, and processes. Digital twins support organizations to achieve & improve business outcomes. According to the Gartner report “What to Expect When You’re Expecting Digital Twins.” There are three types of digital twins:
- Discrete digital twins — To optimize individual assets, people and other physical resources.
- Composite digital twins — Applied to operations involving a combination of discrete digital twins and resources (for example, from external data sources)
- Digital twins of organizations (DTOs) — To maximize value across specific commercial processes such as manufacturing, or across entire business operations.
The report highlights that companies are making the mistake of implementing portfolios of Internet of Things (IoT) digital twins without a thorough understanding of the different types in the market and their relationship to one another. Discrete digital twin technology is already widely used in heavy industry and data has been collected for years. So, what qualifies a software to be called a digital twin?
As COVID-19 is accelerating digital transformation, democratizing data and understanding the current state has become one of the top priorities for many organizations today to start their journey.
Acquiring and accessing different sources of data does not accelerate digital transformation on its own. There is still a lot of work to be done: it begins with identifying, accessing, and organizing different data sources, to cleaning and improving data standards, followed by putting data in context by relating it to operational processes to be consumed by various levels of your organization, with proper storage, security and governance.
While all three digital twin types differ in their scope and the type of outcomes they produce, they all perform two vital roles for business: They increase situation awareness via analysis of IoT data, events, and interactions. They also leverage that insight to make better business decisions by triggering appropriate responses within core enterprise applications.
The Emergence of DTO – A Digital Lens Into Your Operation
To drive digital transformation, you need to have the visibility to steer and align with changes that are affecting your transformation, this includes people, processes, regulations, compliance, technology and data. Additionally, you need to translate the desired business outcomes such as cost optimization, compliance and customer experience into your operations to measure and monitor progress.
With a DTO, you will define a destination and the business outcomes you are seeking to achieve. Then, build a digital replica of your operations including processes, people, assets, data, risks, etc. to measure performance using KPI’s. Finally, power it with intelligence fed by real-time data for scenario planning and decision-making.
At Thynkli, we build a digital twin of organization where we collect, discover, model, organize and govern data from different sources to provide insights and enable decision making. We connect IoT-connected things to business entities, processes and to core enterprise applications.
We understand that digital twinning technology enables digital transformation. With our people-centric approach, we orchestrate operational excellence tailored for your organization by creating a digital twin of your organization.
Contact us to learn how we do it!
To discover more about the Thynkli process see HERE.