Today, before companies manufacture products or execute processes, they are often first developed, tested and optimized in the virtual world - as so-called digital twins. The aim is to use the analysis of these digital images to increase product and process performance and thus boost a company's overall efficiency.
Digital twins are a virtual representation of a product or system and have been used in the manufacturing industry for years. They help companies understand, predict and optimize the performance of a system or process. A digital twin is mapped from real-time data and therefore makes it possible to digitally visualize a real product, system or process in its entirety, uncover its weak points and make data-based operational and strategic decisions based on the analysis. The goal is to ensure optimal performance in the physical world, gain better insights into production, improve customer service, and thus increase the efficiency of the entire company. Thanks to immense technological advances, especially in the Internet of Things (IoT), digital twins have now become a valuable decision-making tool for companies across a wide range of industries. In particular, their ability to provide answers to questions about how business processes work and the potential impact of process changes and optimization make digital twins a valuable tool in digital transformation.
Digital process twins support both the visualization of the actual state of processes and the identification of possible target states via process simulation and their evaluation. The digital twin captures and analyzes the large volumes of data generated during the use of IT systems and production facilities in order to obtain usable insights for sound decision-making. Companies in a wide range of industries benefit from the use of this data and the various advantages of digital twins:
- Opening of new business opportunities
- Optimization and control of processes
- Increase of lead times
- Improving the efficiency of products and production systems
- Faster and more targeted identification of faults, bottlenecks and error-prone processes
- Deeper understanding of customers and processes
- Recording of current operating conditions and forecasts of future conditions and events
Compared to business process management in the past, process managers today no longer have to analyze their processes with stopwatches and workplace observation. Instead, the digital process twins are intelligently enriched with data and simulated. Companies can run through different simulations and identify optimization potential in their processes. In this way, digital twins help companies to move much more quickly from the as-is analysis of processes through the target simulation of future processes to implementation and to answer questions about future processes, the necessary resources and systems for them, and the costs. This not only facilitates strategic decisions by the company management, but also ensures an enormous increase in process transparency. The interaction of the following components provides optimal support for the entire lifecycle of processes:
- Modeling and simulation engine
- Low-code process execution platform
- Process mining tool
- Risk simulation