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What is Digital Twin Technology_

Digital twins are powerful masterminds to drive innovation and performance. Imagine it as your most talented product technicians with the most advanced monitoring, analytical, and predictive capabilities at their fingertips.<br>For more information click on that:https://techwave.net/<br>

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What is Digital Twin Technology_

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  1. 10/4/22, 12:27 PM What is Digital Twin Technology? DIGITAL IMPORTANCE OF DIGITAL TWIN TECHNOLOGY What is Digital Twin? Originally prepared by NASA for its astronauts, digital twin technology is a connecting force between digital and physical works. In fact, it’s a digital form of the existing physical things that can be leveraged for various purposes. Digital twin technology helps scientists and innovators to build simulations before the actual machine is built. The technology, even though made aware over a decade, has gained momentum ever since Internet of Things grabbed center stage. Relevance of Digital Twin: Given that many companies are showing interest in deploying digital twin technology for their IoT projects, companies such as Microsoft and Oracle have started offering “Digital Twin.” Leading analytics and research ?rm, Gartner placed digital twin technology amongst top 20 technologies of 2017. Also, it predicted that almost half of the MNCs would be leveraging digital twin by the end of 2021, which would likely increase the productivity by 10%. In another research carried out by IDC, at least 30% of companies would depend on a digital twin for acquiring the data and increase ROI by 21%. Research reports aside, how exactly digital twin prove bene?cial for the companies in fetching higher pro?ts? Bene?ts: Increased Productivity: Originally prepared for this industry itself, digital twin technology continues to prove bene?cial in manufacturing the items. To ascertain the same, Deloitte has deployed this technology as an experiment and found out that the workers were able to better detect the underlying problems in assembling the items. The company revealed that at least 20% productivity was increased due to digital twin technology. Data-Driven Decisions: Workers can make decisions based on the data as sensors equipped in the physical device provide the accurate information.  You can now bid adieu to the decisions based on intuitions. Employee Engagement: Digital twin technology network will provide collaboration between employees—who typically work in silos— of different departments, which will help them to https://techwave.net/importance-of-digital-twin-technology/ 1/5

  2. 10/4/22, 12:27 PM What is Digital Twin Technology? e?ciently design the product and ?nalize its price. Just in case an error is reported, it can be easily resolved as employees have a 360-degree view of the product. Increased ROI: Several studies said that companies yielded higher pro?ts post-deployment of digital twin technology. Given its potential to identify and close pitfalls, the products rolled out would be world class, which in turn boosts the sales. With machine learning, Internet of Things, cloud and technology trends that are disrupting innovation and creating new digital transformation roads, the potential for implementation of digital twin technology is more than relevant. With the right implementation, digital twin technology will drive innovation through better understanding of customer needs. Feel free to contact us at info@techwave.net for more information. PREVIOUS POST Pushing Cloud to the Edge. Is edge computing replacing cloud computing? NEXT POST GDPR compliance checklist Search here.. RECENT POSTS Why is an upgrade strategy for SAP CX Commerce the best solution for your business? How Digital Transformation Plays a Key Role in Boosting Customer Experience (CX) Reframing Business Evolution in the Cloud: A Wish or A Necessity? The Rise of FinTech: How Is It Revolutionizing The Future of Finance? Modern EPM Solution and Why Businesses Must Adopt It https://techwave.net/importance-of-digital-twin-technology/ 2/5

  3. 10/4/22, 12:27 PM What is Digital Twin Technology? CATEGORIES AMS Analytics Arti?cial Intelligence AWS Big Data Blockchain BPO Cloud Company Announcement CRM Digital Digital Transformation EIM EMI Engineering EPM ERP Events Featured Fintech IoT IT infrastructure SAP SAP AMS https://techwave.net/importance-of-digital-twin-technology/ 3/5

  4. 10/4/22, 12:27 PM What is Digital Twin Technology? Validation ABOUT TECHWAVE Techwave is a leading global IT and engineering services and solutions company revolutionizing digital transformations. We believe in enabling clients to maximize the potential and achieve a greater market with a wide array of technology services, including, but not limited to, Enterprise Resource Planning, Application Development, Analytics, Digital, and the Internet of things (IoT).  SERVICES Enterprise Digital Services Engineering Services Enterprise Business Services PLATFORMS SupplyVu™ Autonetics Platform Hybrid Cloud Management COSMOS IoT GLOBAL HEADQUARTERS 13501 Katy Fwy Suite 1000, Houston, TX 77079, USA. Ph:+1 281 829 4831 info@techwave.net FOLLOW US  https://techwave.net/importance-of-digital-twin-technology/ 4/5

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