g-f(2)450 THE BIG PICTURE OF THE DIGITAL AGE (8/26/2021), CIO, Digital twins: 4 success stories

ULTRA-condensed knowledge

"g-f" fishing of golden knowledge (GK) of the fabulous treasure of the digital age, Digital twins (8/26/2021)  g-f(2)426

Opportunity, Multiple benefits of digital twins, CIO

• Today, companies are increasingly seeking to meld the digital world of data with the physical world through digital twins. Digital twins serve as a bridge between the two domains, providing a real-time virtual representation of physical objects and processes.
• These virtual clones of physical operations can help organizations simulate scenarios that would be too time-consuming or expensive to test with physical assets. They can help organizations monitor operations, perform predictive maintenance, and provide insight for capital purchase decisions, creating long-range business plans, identifying new inventions, and improving processes.

Opportunity, The global digital twin market size, CIO 

• In a forecast released in September 2020, research firm MarketsandMarkets said the global digital twin market size was $3.1 billion in 2020 and would reach $48.2 billion by 2026, growing at a CAGR of 58% over the period.

Lessons learned, Here are four examples of how organizations are using digital twins effectively today, CIO 

1. Rolls-Royce improves jet engine efficiency. Multinational aerospace and defense company Rolls-Royce has deployed digital twin technology to monitor the engines it produces.
2. Mars optimizes its supply chain with digital twin. Confectionary, pet care, and food company Mars has created a digital twin of its manufacturing supply chain to support its businesses. 
3. TIAA reduces client service complexity. The Teachers Insurance and Annuity Association of America-College Retirement Equities Fund (TIAA) helps teachers manage their retirement funds. 
4. Bayer Crop Science reshapes strategy with virtual factories. Bayer Crop Science has leveraged digital twins to create “virtual factories” for each of its nine corn seed manufacturing sites in North America. 

Genioux knowledge fact condensed as an image

Condensed knowledge

• CONTEXT: The Golden Knowledge Path ("GKPath") digital highway
• Opportunity, Discovering and exploiting the treasure of the digital age
  • "genioux facts", the online programme on MASTERING “THE BIG PICTURE OF THE DIGITAL AGE”, builds The Golden Knowledge Path (GKPath) digital highway to discovering and exploiting the treasure of the digital age, accelerating everyone's success in the digital age. g-f(2)254, g-f(2)260, g-f(2)261, g-f(2)251, g-f(2)312, g-f(2)256, g-f(2)257, g-f(2)272, g-f(2)271, g-f(2)270, g-f(2)268, g-f(2)269, g-f(2)289, g-f(2)283, g-f(2)287, g-f(2)313, g-f(2)293, g-f(2)294, g-f(2)296, g-f(2)298  
  • The inverted mini pyramid of knowledge, g-f(256), is essential to travel on the "GKPath" highway.
  • g-f(2)256 The Big Picture of the Digital Age (5/2/2021), geniouxfacts, The fundamental knowledge mini-pyramid for traveling on the "GKPath" highway.
• Key "genioux facts" to travel on the "GKPath" highway.
• g-f(2)261 The Big Picture of the Digital Age (5/5/2021), geniouxfacts, You are unique. Grow without limits in the digital age.
• g-f(2)257 The Big Picture of the Digital Age (5/3/2021), geniouxfacts, At any moment you take the fastest path (GKPath) to your greatness.
• g-f(2)254 The Big Picture of the Digital Age (5/1/2021), geniouxfacts, The Golden Knowledge Path (GKPath) to accelerate everyone's success.
• g-f(2)260 The Big Picture of the Digital Age (5/4/2021), geniouxfacts, Alerts, Warnings and Relevant Lessons Learned Traveling at High Speed ​​on GKPath.

Opportunity, Multiple benefits of digital twins, CIO

• Today, companies are increasingly seeking to meld the digital world of data with the physical world through digital twins. Digital twins serve as a bridge between the two domains, providing a real-time virtual representation of physical objects and processes.
• These virtual clones of physical operations can help organizations simulate scenarios that would be too time-consuming or expensive to test with physical assets. They can help organizations monitor operations, perform predictive maintenance, and provide insight for capital purchase decisions, creating long-range business plans, identifying new inventions, and improving processes.

Opportunity, The global digital twin market size, CIO 

• In a forecast released in September 2020, research firm MarketsandMarkets said the global digital twin market size was $3.1 billion in 2020 and would reach $48.2 billion by 2026, growing at a CAGR of 58% over the period.

Lessons learned, Here are four examples of how organizations are using digital twins effectively today, CIO 

1. Rolls-Royce improves jet engine efficiency. Multinational aerospace and defense company Rolls-Royce has deployed digital twin technology to monitor the engines it produces.
2. Mars optimizes its supply chain with digital twin. Confectionary, pet care, and food company Mars has created a digital twin of its manufacturing supply chain to support its businesses. 
3. TIAA reduces client service complexity. The Teachers Insurance and Annuity Association of America-College Retirement Equities Fund (TIAA) helps teachers manage their retirement funds. 
4. Bayer Crop Science reshapes strategy with virtual factories. Bayer Crop Science has leveraged digital twins to create “virtual factories” for each of its nine corn seed manufacturing sites in North America. 

Some relevant characteristics of this "genioux fact"

• Category 2: The Big Picture of the Digital Age
• [genioux fact deduced or extracted from CIO]
• This is a “genioux fact fast solution.”
• Tag Opportunities those travelling at high speed on GKPath
• Type of essential knowledge of this “genioux fact”: Essential Analyzed Knowledge (EAK).
• Type of validity of the "genioux fact". 

• Inherited from sources + Supported by the knowledge of one or more experts.

• Authors of the genioux fact
• Fernando Machuca

References

Digital twins: 4 success stories, Thor Olavsrud, August 18, 2021, CIO.

ABOUT THE AUTHORS

Thor Olavsrud

Thor Olavsrud

Senior Writer

Twitter account: @ThorOlavsrud

LinkedIn account: www.linkedin.com/in/thorolavsrud/

  

Thor Olavsrud covers data analytics, business intelligence, and data science for CIO.com. He resides in New York.

Key “genioux facts”

• Some relevant and recent "genioux facts" from the g-f golden knowledge pyramid to master the big picture of the digital age. 
  Opportunities those travelling at high speed on GKPath
  • Opportunities updates (8/26/2021) for those traveling at high speed on GKPath!
  • Tag Alerts those traveling at high speed on GKPath
  • g-f(2)449 THE BIG PICTURE OF THE DIGITAL AGE (8/26/2021), WSJ, Microsoft Hires Former Top Amazon Cloud Executive, Adding to Rivalry
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  • g-f(2)447 THE BIG PICTURE OF THE DIGITAL AGE, "g-f" fishing of golden knowledge (GK) of the fabulous treasure of the digital age, The essentials of THE NEW WORLD (8/25/2021)
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  • g-f(2)426 THE BIG PICTURE OF THE DIGITAL AGE (8/16/2021), geniouxfacts, Fishing for golden knowledge that is part of the treasure of the digital age
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  • g-f(2)423 THE BIG PICTURE OF THE DIGITAL AGE (8/13/2021), Forbes, The Evolution Of Digital Transformation
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  • g-f(2)382 The Big Picture of the Digital Age, Untapped free golden knowledge of exceptional quality, YouTube channel, MITSMR, MIT Sloan Management Review, 7/20/2021.
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  • Take advantage of the right Golden Knowledge (GK), be a successful learner and enjoy the full range of opportunities of the digital age to revolutionize yourself and grow without limits.
  • The big picture of your life can drastically limit your growth, or it can open up unimaginable opportunities. 
  • Your Personal Digital Transformation (PDT) is potentially wonderful and disruptive!
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  • g-f(2)271 The Big Picture of the Digital Age (5/11/2021), geniouxfacts, The inverted pyramid of knowledge of a “genioux fact fast solution”: From GOLD JUICES to GOLD FRUITS.
  • g-f(2)256 The Big Picture of the Digital Age (5/2/2021), geniouxfacts, The fundamental knowledge mini-pyramid for traveling on the "GKPath" highway.

• A list of relevant "genioux facts" that describe a "Classical CONTEXT" of the Digital Age
1. g-f(2)45 "The Big Picture of the Digital Age": Knowledge opens the way to staggering opportunities, risks and challenges
2. g-f(2)50 The Big Picture of the Digital Age: Mines of Golden Knowledge Growing Every Day
3. g-f(2)74 THE BIG PICTURE OF THE DIGITAL AGE: Rapid change, incertitude and disruption, in a hypercompetitive environment
4. g-f(1)28 The pyramid of knowledge of a “genioux fact”: From GOLD FRUITS to GOLD JUICES
5. g-f(2)51 The Big Picture of the Digital Age: The Value of Golden Knowledge is Relative
6. g-f(2)99 THE BIG PICTURE OF THE DIGITAL AGE, The “genioux facts”: Essential knowledge to unleash your limitless growth.
7. g-f(2)75 THE BIG PICTURE OF THE DIGITAL AGE: “Infinite Learners” to keep pace with change, incertitude and disruption, in a hypercompetitive environment
8. g-f(2)151 The Big Picture of the Digital Transformation, 3/1/2021, geniouxfacts, How To Succeed At Business Digital Transformation.
9. g-f(2)153 The Big Picture of Business Artificial Intelligence (3/3/2021) in a Single “g-f KBP” Chart
10. g-f(2)174 THE BIG PICTURE OF THE DIGITAL AGE (3/20/2021), geniouxfacts, Executive guide of golden knowledge to fire up your unlimited growth.
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