So, what exactly is a DTO? A DTO is a digital representation of the entire organization, rather than just one aspect or asset. A DTO provides a comprehensive and holistic digital representation of the organization's situation and interdependencies.
Some of the major industry applications
There are some industries that are particularly relevant for the use of a digital twin or DTO:
Aerospace & Defense
Automotive & Transportation
Energy & Utilities
These industries have one thing in common: they depend primarily on heavy engineering and machinery, as well as processes, systems, and people. It is important to note, however, that creating digital twins or a DTO can benefit any organization.
If you have a valuable asset in your organization, whether it is people, processes, systems, products, or parts, it is worth monitoring, controlling, and maintaining in a digital space.
Asset Management & Maintenance
One of the primary advantages of developing digital twins or a DTO is the ability to manage your business all the way down to the equipment and asset level, allowing for, for example, predictive maintenance of said assets. Creating digital twins that are linked to your business processes allows you to maintain and manage your assets in the context of the processes that they are associated with. When your equipment and assets are monitored and controlled, and maintained on a regular basis in relation to their individual lifecycles, you are guaranteed optimal use, a reduction in the likelihood of downtime, a diagnosis of untapped resources or the identification of redundant resources, cost-saving opportunities, and, finally, improved efficiency and throughput.
Adapting rapidly to changing market dynamics - Business Ecosystem
As we've said before, it's critical for your company to be able to respond quickly to changing market dynamics. Especially if you want to stay relevant to your customers and maintain your competitive edge.
Understanding and recognizing key business moments, as well as investigating the sometimes blurred lines between the physical and digital when it comes to people, business, and things, is one way to accomplish this.
This can be done with digital twins, a DTO and business ecosystems.
Mapping out your business ecosystem allows you to better identify these key business moments, and how they will influence your organization.