By Michael Rivera, PhD
Advancement in digital technologies has opened endless opportunities for organizations around the world. There are many state-of-the-art technologies businesses can leverage to improve operations, create new products & services, conduct research, outsmart competitors, and so on. One such solution is the digital twin.
What is a digital twin, and how can companies leverage it to raise their bottom line? This article answers the question and shows how your business can benefit from this emerging tech solution.
What is a Digital Twin?
A digital twin represents an intended or actual real-world physical product, person, place, system, or process. The digital replica serves as the effectively indistinguishable digital version, which can be used for various purposes, like simulation studies, integration, monitoring, testing, maintenance, and marketing.
There are some successful applications of digital twins. For example, Gucci, a leading fashion company, launched The Gucci Garden Experience to sell virtual products. The fashion brand sold a virtual-only digital twin purse for a good price – higher than its physical counterpart.
What are the Benefits of Digital Twin?
This innovation can be applied in a variety of ways. In this section, we’ll take a quick look at the advantages of implementing digital twins in your business.
1. Improved Customer Satisfaction
In a business space where competition is fierce, finding innovative ways to deliver customer-centric services can make you stand out. A digital twin can help you achieve this by improving customer satisfaction via predictive maintenance. Digital twins enable engineers to collect real-time data on products, which helps with smoother customer service and repair operations.
2. Decreased Time to Market
One of the things that help companies reduce time to market is receiving continuous insights into how their products are performing in the field. With digital twins, enterprises can simulate and draw insights from their products, enabling them to iterate and innovate products faster and with greater precision. Digital twins allow engineers to experiment and validate product performance before moving on to physical prototyping.
3. Reduced Cost of Product Development
The ability to experiment and validate performance before the leading product development doesn’t only help companies save time but also results in significant cost savings. Digital twin reduces the incidence of major mistakes and late-stage redesign. It helps companies avoid product failures.
Conclusion: Implementing Digital Twins
Digital twins help you draw insights required to optimize operations and make decisions that positively impact your customers. The big question is, how do you build digital twins? It takes advanced technical expertise to implement a digital twin like other recent technologies.
Two major ways to implement this new technology are through an in-house team and outsourcing. Outsourcing to a software development company is the best option – it’s cost-effective. The good news is that Thinaer can help you build digital twins efficiently and cost-effectively.
Here at Thinaer, we have industry-leading tech experts who help the world’s leading enterprises transform their operations with digital technologies. Contact us today to learn how we can help you reach your goals timely and cost-effectively.