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6 myths about Enterprise Digital Twins
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6 myths about Enterprise Digital Twins

When faced with a transformative technology like an Enterprise Digital Twin, many business owners and operational efficiency experts find themselves in uncertain territory. Questions surrounding the price, complexity, implementation, data requirements and ROI associated with digital twins abound – but what is the truth about this innovative technology?

Myth 1: Enterprise Digital Twins are costly in the long- and short-term

Enterprise Digital Twins can be highly cost-effective for businesses, generating next-quarter value and quick return on investment (ROI). Because Enterprise Digital Twins build on companies’ existing data, they are relatively uncomplicated and inexpensive to implement. Ready-to-deploy digital twins, created to tackle specific industrial challenges, can be quickly and easily adopted. Given this, Enterprise Digital Twins have spread rapidly across industries and investment in this transformational technology is expected to explode in the next 5 years.

 

Myth 2: Enterprise Digital Twins are only for large, fully developed businesses

A core advantage of Cosmo Tech Enterprise Digital Twins is the ability to replicate specific areas of operations, securing quick wins for users before being scaled up. As companies evolve, Enterprise Digital Twins can integrate new assets, processes, systems, technologies, locations, subsidiaries and more, covering the full value chain. The common platform underlying Cosmo Tech’s digital twins makes it simple to scale vertically and horizontally, an approach that has consistently demonstrated quick ROI, paying for itself within a quarter.

Myth 3: Like other AI technologies, Enterprise Digital Twins require mountains of data

While Enterprise Digital Twins rely on data-based models, the real challenge is not the quantity of data available, but the quality. Most companies are data rich, and Enterprise Digital Twin experts are experienced in identifying exactly what data is pertinent and useable, and collecting it. While most AI technologies only accept certain types of data, others can integrate and standardize data from different sources and in multiple formats. Moreover, Cosmo Tech Enterprise Digital Twins do not rely exclusively on historical data, instead using an in-depth understanding of an organization’s underlying systems to develop accurate how-to simulations.

 

Myth 4: Only data scientists can manage an Enterprise Digital Twin

Enterprise Digital Twins do not require clients to invest in data expertise; there is no need to hire data scientists or rearrange internal teams. Cosmo Tech Enterprise Digital Twins are designed to be user-friendly, providing an easy-to-configure platform, readable dashboards and a host of intuitive functions. Our Enterprise Digital Twins feature customizable, easy-to-program scenarios, step-by-step implementation instructions and clear explanations that makes the technology useable for specialists and non-specialists alike.

Myth 5: Implementing an Enterprise Digital Twin is time-consuming

Organizations can completely implement an Enterprise Digital Twin within a few months of signing a contract. Enterprise Digital Twin experts work with in-house experts, analyzing all systems, processes and operations, then developing conceptual models both specific to the organization and based on existing templates. Once this is accomplished, experts can format client data and enter it into the Enterprise Digital Twin platform, which can then be deployed.

Moreover, clients can choose a scale-up approach, making the process of implementing an Enterprise Digital Twin even faster. Cosmo Tech Enterprise Digital Twins are fully industrialized solutions, providing users customized software solutions that can be quickly implemented.

 

Myth 6: Interpreting the results of an Enterprise Digital Twin is complicated

Enterprise Digital Twins show how and why a model has reached its conclusions, allowing the user to isolate variables and view cascading effects one-by-one. Cosmo Tech Enterprise Digital Twins take this a step further, offering clear optimization tactics that are transparent and explainable. Managers can identify the necessary steps to take to implement operational changes, ensuring uniformity across the organization. The complete transparency provided by Enterprise Digital Twins makes it simple for users to justify strategic decisions to stakeholders.