Five Digital Twin Strategies For Industrial Facilities

Executive Summary

A Verdantix survey of 284 managers responsible for operational excellence found that digital twin solutions are viewed as the most significant innovation for the next two years. Thirty-five per cent of the respondents ‘strongly agree’ that digital twins will transform operational excellence over the next five years. To turn these aspirations into reality, firms need to follow one of five digital twin strategies. Descriptive and informative digital twin strategies are a good fit for operations leaders seeking to leverage existing IT systems without incurring significant additional costs or project risk. The predictive digital twin strategy is suitable for  organizations with a robust asset management strategy and investments in APM software. Comprehensive and transformative digital twin strategies are most appropriate for new-build facilities where IoT technologies can be embedded into assets and processes assume digital twin capabilities. No matter which of the digital twin strategies a firm pursues, the project team needs to focus on ROI not just the exciting new technology.