Digital Twins Will Transform Operational Excellence Initiatives For Industrial Firms

Verdantix recently published a global survey of 284 managers responsible for operational excellence who revealed a high degree of interest in digital twin simulations. Thirty-five per cent of the respondents ‘strongly agree’ that digital twin simulations for industrial facilities will transform operational excellence over the next five years, while a further 54% ‘agree’ with this statement. In the same survey, 94% of interviewees highlighted digital twin simulations as a significant innovation for operational excellence programmes.

No doubt vendors like Akeslos, AVEVA and Siemens will embrace this surge of interest. But we’re still in the early stage of the implementation of digital twins according to our recent study which identified five different strategies. In reality, there is no ‘one size fits all’ approach and vendors are grappling with the complexity of delivering the vision. For example, Bentley Systems acquired ACE enterprise Slovakia in November 2018, a provider of interoperable solutions that can interface with ERP and EAM systems. In May 2019 Bentley acquired the UK-headquartered Keynetix, a geotechnical data management cloud services provider. AspenTech and Hexagon entered into a partnership in July 2019 to provide EPC firms with a digital twin solution to enhance decision-making and performance across the plant lifecycle. In February this year, ABB entered into a strategic partnership with Dassault Systèmes to leverage its 3DEXPERIENCE platform. The industry needs a swath of digital twin success stories and evidence of positive ROI to cross the chasm.

To learn more register to attend the forthcoming webinar: ‘Operational Excellence In 2020: Budgets, Technology Plans and Business Priorities’.

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