The traditional concept of digital twins has been around for quite a while now. It involves creating virtual, dynamic copies of physical objects and systems that are constantly updated in real time.

With the turn of the century, digital twin solutions are being implemented by organizations to improve efficiency and ensure data-driven decision-making. 

Digital twin technology marks the height of intelligent automation in different industries.

Here are five ways organizations can benefit from digital twin solutions:

Predictive Maintenance

Unexpected equipment failures and downtime are two of the biggest challenges faced by organizations. Digital twin technology uses predictive maintenance, a strategy that uses data analysis and tracking to predict potential equipment failures. It can be used to schedule maintenance checks proactively rather than waiting for failures to occur. 

By availing digital twin consulting services, such as those offered by Sand Technologies, organizations can have a virtual picture of all the processes, allowing them to detect bottlenecks and problem areas. The information can be used for better resource allocation and overall boosted productivity. 

For organizations dealing with supply chain management, digital twin technology can enable better inventory management and optimized logistics. 

Improved Efficiency

Slow-performing facilities and assets can lead to project lags and increase overall downtime in an organization. A digital twin will give real-time visibility into various processes. For example, an organization can use digital twins to learn that a piece of equipment is operating slower than usual. 

With digital twin solutions, engineers can run different scenarios and make changes without investing in physical technology early on. 

Reduced Environmental Footprint

Organizations can stimulate scenarios for sustainable organizational practices. They can monitor real-time energy consumption and waste generation, leading to immediate identification of inefficiencies. 

For example, Rolls-Royce has extended its engine maintenance intervals by nearly 50% and reduced its spare parts inventory, saving up to 22 million tons of carbon emissions. 

Data-driven Decision Making

Digital twins provide a wealth of data that can be used to make informed decisions about strategies, operations, and product development. Various industries can benefit from data-driven decision-making. For example, a large-scale e-commerce organization can study customer preferences and buying patterns. In comparison, an automotive organization can test the quality of parts and identify fault areas. 

Digital twin solutions are now being used in collaboration with artificial intelligence (AI). AI can learn past and present trends in any industry or organization. By feeding this data into a digital twin model, organizations can study specific business needs and enhance the accuracy of data. 

Cost Savings

One of the biggest advantages of digital twin technology is cost reduction. Here are some ways:

• Optimized resource usage. Digital twins can help identify problem areas in resource consumption and help organizations adopt better allocation strategies. 
• Minimal physical prototypes. Through virtual testing and strategy implementation, organizations can cut the costs of expensive physical prototypes. It can also shorten product development cycles. 
• Reduced downtime. Digital twin solutions have been shown to minimize asset downtime by 20%. 

With advanced digital twin solutions, you can save organizational costs and redirect them to other needs.