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Slashing Costs: The Benefits of Digital Twins (and How to Get Started)

Benefits of digital twins

Interscale Content Hub – We’ve all been hearing a lot lately about the benefits of digital twins. This technology is changing the way industries design, operate, and maintain physical assets.

To put it simply, digital twins (DTs) are virtual copies of physical things, processes, or systems.

This virtual version is updated all the time with real-time data from sensors and other sources, so it’s always up to date and accurate.

So, why should we care about digital twins? Digital twins aren’t just a futuristic concept—they’re a practical tool that can save time, money, and resources. Let’s break this down.

Key Benefits of Digital Twins

Enhanced Predictive Maintenance

By combining data from sensors like temperature, vibration, and pressure, digital twins help us spot patterns and trends that tell us when maintenance is needed.

This proactive approach helps reduce downtime, extend the lifespan of equipment, and save on maintenance costs.

As Andrea Willige points out in the World Economic Forum article, “Digital twins: What are they and why do they matter?,” the digital twins have been used to great effect in a number of industries, including automotive and aerospace.

For example, in manufacturing, digital twins are used to keep an eye on machinery performance, predict when something might go wrong, and schedule maintenance activities accordingly. 

Improved Product Design and Development

In their paper “Digital Twin Technology Challenges and Applications: A Comprehensive Review,” Botín-Sanabria et al. offer a comprehensive review.

The paper shows how digital twins are used in many industries, including automotive and aerospace, to improve product designs by simulating performance and validating models under different conditions. 

By running simulations in the real world, digital twins let engineers test out different design ideas, spot potential problems, and make the right tweaks before building physical prototypes.

This virtual testing capability speeds up the development process and makes the final product more reliable and performant.

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Optimized Operations and Performance

Digital twins help operations run more smoothly by giving us a dynamic model of our assets’ performance. This lets us keep an eye on things in real-time and make any necessary adjustments.

In the world of smart manufacturing, digital twins help us simulate and optimize production lines, which helps us reduce waste and improve quality control.

In “Digital twins for sustainable growth,” Mari Huusko and Stephen Witherden talk about how digital twins give you a “single pane of glass” view of data and systems, which makes it easier to make decisions about your assets throughout their life cycle.

This approach helps organizations make the most of their resources and improve overall equipment effectiveness (OEE).

Increased Efficiency and Cost Savings

One of the best things about digital twins is that they can help companies save money and be more efficient.

Digital twins help cut operational costs and avoid costly downtime by monitoring asset performance and predicting maintenance needs. 

McKinsey found in a study “Digital twins: The key to smart product development,” how using digital twins in product development and maintenance can cut total development times by 20-50% and reduce the number of expensive prototypes needed.

Another great example is how a digital twin can model a building’s energy usage patterns.

Doing this helps us identify inefficiencies and optimize settings for HVAC systems and lighting schedules. This leads to significant energy savings.

For a great collaboration of BIM and DTs, you can readBIM and Digital Twins = Construction’s Dream Team: Are You on Board?

Enhanced Decision-Making

Digital twins help us make better decisions by giving us all the information we need in real time and letting us crunch the numbers in new ways. 

For example, in smart cities, digital twins are used to test out urban planning scenarios, make traffic flow better, and cut down on carbon emissions. This helps make cities more sustainable.

In their review, Botín-Sanabria et al. point out how digital twins help make data-driven decisions in complex systems, from manufacturing to healthcare.

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By combining real-time data with sophisticated analysis, digital twins offer insights that can be used to make strategic, tactical, and operational decisions.

Challenges and Considerations

Integrating digital twin technology into existing systems is a big investment and a big shift in how we do things.

Diego M. Botín-Sanabria et al. identifies one of the main challenges as the complexity involved in creating and maintaining accurate digital twins.

This complexity comes from the need for high-fidelity models and real-time data integration, which can be technically challenging and require a lot of resources.

Also, data security and privacy are big concerns, especially when it comes to sensitive information.

The constant flow of data between the physical and digital twins creates potential vulnerabilities that need to be carefully managed.

Another big challenge is getting different teams in the company to work together. 

Yes, getting digital twins up and running means the IT, operations, and management teams need to work together.

This can be a big change for a lot of companies, so it’s important to have strong leadership and commitment from senior management to make it happen. 

Mari Huusko and Stephen Witherden point out how tricky it can be to get different stakeholders on the same page when it comes to goals and metrics. This is really important for making digital twins work well.

Huusko and Witherden also talk about the need to set up solid data management practices to support the digital twin’s operations and improve decision-making abilities.

Digital twins need good, up-to-date data to work properly. One of the biggest challenges is making sure the data is accurate, up to date, and relevant. 

For reference of DTs in real estate, you can checkDigital Twins Real Estate 101 Guide to Innovation of Manage Properties.”

What are the Competitive Advantages of Digital Twins?

Firstly, digital twins are a great way to test products without any risk. By creating a digital version of a product or process, companies can test different scenarios and spot potential issues before they happen.

On top of that, digital twins make it easier to predict when something might go wrong, which can save a lot of money and make things run more smoothly.

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The great thing about digital twins is that they help you spot patterns and trends in equipment performance, so you can jump in and fix things before they break.

Another plus is how DTs helps you make your operations more efficient and improve your decision-making. 

This can help you use resources more efficiently, improve quality control, and get better overall performance.

Huusko and Witherden show how digital twins can help with strategic, tactical, and operational decision-making by giving you a complete picture of asset data and making it easier to make informed investment decisions.

Plus, digital twins help companies keep their customers happier and more engaged. By simulating how customers use and interact with their products, companies can make their offerings more customer-centric. 

As you can see, keeping up with the latest digital twin developments while still focusing on your main business can feel like walking a tightrope. 

We at Interscale have come up with solutions designed to make your workflows simpler and more efficient.

Our full-service BIM management team can help with everything from creating digital models to checking for clashes. 

We’re talking about accuracy, reliability, and data that’s not just plentiful but also packed with insights—the very foundation upon which your digital twin ambitions can thrive. 

Our BIM and digital twins team of experts don’t just use technology; they know how to use it, making sure your digital twin projects are built on a solid foundation of data.

Now, it is your time to look at the specifics and see how we can adjust to your company’s needs and goals.

As a starter point, we encourage you to visit our Interscale BIM Management Support Service page.

Or, let’s get to the point. Schedule a one-on-one consultation with us. Let’s figure out your specific challenges and create a digital twin strategy together.

In Closing

Digital twins are a pretty amazing way to manage physical assets in various industries.

From preventing equipment failures before they happen to cut companies’ costs, the potential impact of digital twins is huge. 

So yes, there are so many benefits digital twins offer. This means they’re a key tool in your industry landscape.