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7 Benefits of Digital Twin Technology

Digital twin technology is increasingly important in the modern business world.

Digital Twins create virtual models of physical objects (such as assets or facilities), systems, or processes. As a digital counterpart for the actual object, digital twins provide the opportunity to understand and predict outcomes, have real-time data for decision-making, optimising products, and enhancing connectivity. Additionally, Digital Twins are valuable across scores of industries with numerous applications.

#1. Drive Revenue Opportunities

A significant benefit of digital twin technology is its ability to support business revenue opportunities by optimising operations and improving processes for increased revenue growth. Digital twin technology could reveal potential defects with processes or assets so companies can prevent issues down the line, making for more effective processes  that drive revenue growth.

Key Takeaway: Digital twin technology technology ensures companies stay competitive to uncover new revenue streams and promote organisational growth for a more successful business. It’s also a crucial tool to increase your company’s bottom line.

#2. Reduce Operational Costs

One of the primary digital twin benefits is that this software reduces operational costs, providing additional value to a company’s bottom line. This cost-saving technology takes a proactive approach to product maintenance tasks to reduce downtime and allow teams to address problems before they become critical and expensive.

Key Takeaway: By offering real-time insights into assets and performance, digital twin technology lets businesses identify inefficiencies, leading to cost savings and reduced operational expenses. These cost savings can increase your company’s bottom line.

#3. INCREASE PRODUCTIVITY

Digital twin technology is important because it improves your company’s productivity by leaps and bounds, streamlining operations and processes for improved decision-making and efficiency. This technology can detect issues and guides teams to the right solution to eliminate the need for a guessing game and trial-and-error fixes..

Key Takeaway: Digital twin technology is vital to increase productivity. Companies like Woodside Energy have found immense success RemSense’s digital twin virtualplant (link to vp page here) by creating a visualisation platform to improve organisational safety, efficiency, and productivity. The more productive your company is, the better chance you have at increasing your bottom line.

#4. INCREASE ASSET UTILISATION

Digital twin technology allows organisations to maximise the utilisation of their physical assets by providing a virtual representation of those assets to simulate different situations, identify improvement opportunities, and make data-driven decisions to make the most of assets. By implementing this technology, organisations can improve their overall asset performance and promote seamless operations.

Key Takeaway: Digital twin technology is essential for asset utilisation, helping organisations like Perth Children’s Hospital. Telethon Kids Institute used RemSense’ digital twin technology virtualplant (link to vp page) to capture high-definition images of their buildings and offices/labs, enabling remote access to researchers and improving inspection and utilisation for trainings and research purposes.

#5. EFFECTIVE SAFETY AND TRAINING

Digital twin technology can be helpful for safety simulations and employee training by replicating scenarios where employees can learn in a safe and controlled environment or familiarise with any site before physically travel to their destination. Digital twins can contribute to reducing workplace accidents by instantly reducing the need to frequent site visits and promoting safety awareness by providing a model for employees to learn safety protocol and understand the ins and outs of the job.

Key Takeaway: In a world where safety and proper training are of utmost importance for businesses globally, digital twin technology provides an invaluable solution for businesses. This provides legitimate value to your organisation by preparing your employees to perform their best and minimising costly mistakes that can occur without proper education and training.

#6. REDUCE RISK

One of the most notable benefits of digital twin technology is its ability to reduce operational risks. By allowing you to simulate and mitigate risks , digital twins allow your organisation to identify and prevent risks that could cause significant revenue loss or, in some cases, physical harm.

This technology also accelerates the risk assessment process, allowing you to determine results and outcomes efficiently. Digital twin technology enables you to identify risks or failures and guiding to better outcomes by predicting possible scenarios. This can be done by importing conceptual models or scanning physical entities in the real world to visualise and analyse them in combination with enterprise and Internet of Things (IoT) data.

Key Takeaway: Digital twin technology is one of the best ways to reduce operational risks, which is essential for increasing your bottom line because it prevents revenue loss in the future. Implementing this technology safeguards your employees, processes, facility , and revenue.

#7. SUSTAINABILITY AND ESG IMPACT CALCULATION

Digital twin technology supports sustainability efforts and helps companies align with their Environmental, Social, and Governance (ESG) goals. This can model and optimise energy usage, resource consumption, and waste reduction, promoting a positive environmental and social impact.

Key Takeaway: Digital twin technology is essential if you want to improve your sustainability and ESG efforts, and by promoting benefits like less resource consumption, you can save costs and increase your bottom line.

THE REMSENSE VISUALISATION PLATFORM SOLUTION

RemSense empowers companies with a disruptive visual twin technology. Virtualplant by RemSense surpasses existing digital twins, offering a high-resolution visualisation platform that links to businesses CMMS and registers. It ensures that your company doesn’t rely solely on rendered digital twins, complex drawings or siloed data but let you experience the site as it exists, not just as designed.

Get in touch now to book a FREE demo of virtualplant

Why the future of operations is visual

Are you ready to transform the way you manage your operations and approach to work? 

In this guide you’ll:

  • Understand what is a digital twin
  • Embrace the benefits and tackle challenges of traditional digital twins (Render, CAD models, BIM)
  • Delve into a ground breaking approach for asset inspections and training that will change the game in the digital twin world. 
  • Discover real-world use cases: see the real world applications of a Visual Twin that is already reshaping the industry landscape
Ready to take the first step towards a more efficient and effective future of operations? 

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