The concept of digital has been rumoring around since the year 2002, however thanks to IoT or Internet of Things, the digital twin technology could be implemented and become inexpensive as well, providing tremendous benefits.
In simpler terms, digital twin technology involves pairing the physical asset, product or service with a corresponding virtual model of it. Establishing pairing between physical dimensions and virtual dimensions enable the system to monitor and evaluate data effectively allowing it to identify and flaws and issue before the problem arises, avoiding downtime and moreover formulating new opportunities benefitting the future. Due to its increased and never-ending capabilities, digital twin technology is finding its importance in the business sector as it is capable of evaluating the entire lifecycle of an asset, establishing a precise connection of products and what not.
How does a digital twin work?
Many view the digital twin technology as sort of establishing a pathway between the physical world and the virtual world. To go in detail how this technology function involves initially attaching the necessary equipment like smart sensors to the tangible asset to collect real-time data and statistics. Such vital smart components are then connected to a system via Cloud which monitors, evaluates and establishes a comparison between the input data received and other predetermined data. Upon doing so, crucial information is gained which helps business identify imperative flaws, weak points and what they can do to transform such weak points.
Why is digital twin technology important?
Digital twin technology is fundamental in all aspects and sectors of today’s economy. Through its formidable data analysis and statistics interpretation capabilities, digital twin technology will lead to performance and innovation. Prospective studies of integration of digital twin technology in business reveal that a minimum of 30 percent increase in cycle processes and predictions.
Companies can be largely benefited by such innovative technology. For example, through its accurate prediction and real-time information gathering along with its comparison of gathered data with certain standards enable the company to provide a much better customer experience by apprehending their needs and interests. Moreover, many companies have already adopted such technology claiming they have a digital twin for each physical asset they possess. This not only enriches their digital twin as it always gathering and collecting data, but makes accurate predictions and prevents any issues. In simple terms, the integration of such innovative technology will only enhance the productivity of the company.