Digital Twin Technology and Digital Twin of the Organisation (DTO) – words that are becoming more commonplace business terminology, but what exactly is it?
Simply put, it’s a virtual representation (think mirror image), of a system, process, physical thing or object, which uses simulation, machine learning and reasoning to help a business see the value and impact of digital change or transformation, before committing resource and budget.
This innovative technology enables businesses to simulate, analyse, and control systems and processes in a virtual environment before implementing changes in the real world. It’s like having a crystal ball that shows you the future impact of your decisions today – removing decision making paralysis which so often slows-up project start.
Why Does It Matter?
The benefits of Digital Twin Technology are multi-faceted:
- Uncertainty: it removes uncertainty of change: by simulating changes in a virtual model, businesses can make better, informed decisions about investments and transformations, significantly reducing the risks associated with change
- Value Creation: the technology ensures that any change made to your business creates value across various fronts – customer, employee, and shareholder value
- Effective Transformation: it supports continuous improvement and change management by engaging people and helping them understand their contributions to the transformation process
- Decision Support: the technology aids in overcoming decision paralysis, enabling leaders to make quicker, more effective decisions
- Impact Visualisation: Digital Twin Technology allows businesses to visualize how their operations will be affected by changes, ensuring decisions are made with a complete understanding of their implications
Practical Applications and Customer References
Here are some practical insights into Digital Twin Technology:
Current State Twin: helps visualise current business operations, identifying opportunities for improvement impacting customers, employees, stakeholders, and shareholders.
Future State Modelling: assists in simulating changes to create new business value, focusing on ROI and value creation.
Risk Management: quantifies and manages the risks associated with change, ensuring successful implementation.
Process Optimisation: guarantees value delivery with evidence and confidence before committing to any action.
Information Governance: supports building effective strategies for information value creation and information management in support of business outcomes.
Conclusion
Digital Twin Technology represents a significant leap forward in how businesses approach change and transformation. Its ability to simulate and predict the outcomes of changes makes it an invaluable tool in any business environment, especially for companies navigating the digital transformation landscape.
Sell your crystal ball and start using technology that is reliable, removes decision paralysis and shows you the impact of change before you invest time and resource.
Read our case studies for details on how Digital Twin Technology has helped New Zealand Defence Force, University of Otago, EQC, WOW!, Tertiary Education Commission – and more.
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