Digital twins allow businesses, including SMEs, to simulate and optimize complex problems repeatedly, reducing the costs associated with physical-world experiments. This technology previously benefited only large enterprises.
Creating digital twins involves a five-step process: defining a business objective, mapping process flows, identifying necessary data, building a digital model, and iterating it through testing and implementation.
The execution phase of a strategy is inherently risky; repeated experimental processes can mitigate this by allowing for continuous monitoring and micro-decisions to enhance outcomes, similar to Toyota's approach.
Digital twins empower SMEs to tackle complex multivariable challenges that were once limited to large corporations, offering them a competitive edge through enhanced decision-making and improved efficiency.
Collection
[
|
...
]