"Yes, But what is a Digital Twin?"

Hello again! Previously I wrote about why we need the Metaverse, and that a Digital Twin was required, almost like a ticket to get in. Taking it back a step though, am often asked by clients "But what IS a Digital Twin?"

And you're right, it's required but it's not exactly a household term yet. So I'm going to quickly explain what it is, why you need it, and what might be some concerns.

Firstly, what is a Digital Twin?

Simply put, it's digital replica of a physical asset. ie. a 3D reproduction of any consumer product, a lipstick, a car, a machine, anything replicated in it's digital 3D form = it's a digital twin.

Ok, sounds normal so far, so why do we need one?

Well, for so many lines of business that we work in, it's needed but we're just unaware. There are many things we can do with Digital Twins, including (but not limited to!)

Cost savings!

Let's start with saving money first. We can use Digital Twins to test product performance, testing different scenarios, test reactions, feedback, opinions amongst groups, globally, without actually needing physical prototypes, thereby saving time and money.

Improving the customer experience!

Digital twins of your product, whether cosmetics, electronics or even automobiles can be used for customers to interact with. Imaging being able to test products without actually needing customers to be physically present in the store?

Getting feedback on what their preferences are, what they want to do / see / how they interact with the product. Being able to customise and experience your product, which we all know leads to an improved customer experience and satisfaction, and ultimately more engagement (and sales).

One more, for internal use... Better decision making!

As mentioned above, Digital twins provide a wealth of data that can be used to make more informed business decisions. What colours are consumers choosing the most, what attachments / modifications / preferences are best for certain demographics and markets? You can analyse the data gathered about the product, usage patterns etc to make better decisions about product design, maintenance, and operations, marketing and all areas of the business. Again, without needing the customer to be there with a physical product. These data streams can be gathered via a variety of channels, to suit what works best for you.

So, if Digital Twins can help companies improve product performance, reduce costs, make better decisions, and provide a better customer experience, why aren't all industries clamouring to "digital twin" all of their products?

Well, as with anything new(-ish), there will always be concerns. I'm going to list but not delve into, the main concerns of creating Digital Twins for your company:

1. Lack of understanding about what's required to create Digital Twins. Can we afford it? Do we have the ingredients / data / "things" to make digital twins from?

2. High costs? What are the costs involved and how do I explain the ROI?

3. Data privacy and security concerns? How do we even collect all the data, and can we?

4. Technical complexity. "I think I get it, but how do I explain this to Procurement, Finance, the Sales and Marketing teams, dealers, markets?"

5. Resistance to change? "What we've been doing for marketing has been working so far, do we really need to change yet?"

Totally agree that it's important to be aware of concerns and risks, but it's also important to note that these challenges can be overcome with proper education and demonstration.

The above merits, benefits, points about improved customer experience and budget savings should be the main focus, rather than the risks and concerns.

Summary

Digital Twins are already important for companies wanting to sell their products online, have consumers see, experience and interact with them remotely and globally.

It's also a cost-effective way to test, collaborate internally and market new products, building brand awareness before mass production.

With the above benefits seemingly outweighing the concerns, it's only a matter of time before "Digital Twin" does become a common term, and reading up on it is a first great step. So, thanks for reading!

As always, comment or ask questions if you want to know more!