Is your Digital Twin a Digital Impostor?
May 10, 2019
May 10, 2019
Companies across all industries understand all too well the pressure to embrace the New. Full-scale disruption has arrived and it’s not only impacting how companies operate today but also causing a shift in product value creation. By harnessing the power of software and digital, companies can create new services and hyper-personalized experiences while driving improvements in efficiency as well as reduced time to market.
However, if not careful, companies can be inadvertently creating Digital Impostors that require significant investment, effort and disruption without providing the long-term benefits of a true Digital Twin.
Digital Twins and the capabilities they enable are only as powerful as the underlying data made available by an interconnected Digital Thread of technology and business process. If a company’s digital journey does not have a complete vision or cross-functional sponsorship, they risk ending up with a patchwork of partial or fragmented Digital Impostors that will have limited ability to adapt or scale with the ever-changing technology landscape and market trends.
Getting back on track will require additional investment—potentially the need to restart the initiative from the beginning. That means even more delays, disruption and lost opportunities.
Between 2016 and 2018, companies spent over $100 billion on scaling digital innovations, and only 22 percent achieved a return on their digital investments that exceeded expectations.
So how can companies detect whether what they are developing is a true Digital Twin or its impostor? There are some critical warning signs:
Companies need to forge their path to reinvention and value creation by understanding where and how they will operate in the new digital-first economy.
The threat of the Digital Impostor is ever-present. Maintaining a unified product model for a comprehensive Digital Twin, connecting innovation, supply chain, manufacturing and aftersales capabilities seamlessly in a Digital Thread and forming a multi-disciplinary coalition—will bar a Digital Impostor from crashing the digital transformation journey.
Accenture’s end-to-end Digital Thread & Digital Twin strategies outline a path to greater growth and cost efficiency through digital connections. See more.
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