Market Report: Digital Twins and AI Deliver the Energy System of Tomorrow
Sept 11, 2019
There is much confusion surrounding the concept of digital twin. Most vendors will have their own idea of what a digital twin is. Often, this definition is reflected by the vendor’s own product set. Much that is said of digital twin is pure hype. Artificial intelligence (AI) is experiencing similar publicity. However, this should not detract enterprises from investigating either concept. In fact, the two go hand in hand.
This report cuts through the digital twin hype by proposing six maturity dimensions for the digital twin, which can be as basic as one datum. The report emphasizes the fact that digital twins are nothing new; rather, they change the conversation regarding data management. But this data management approach opens the door for new analytics-based business processes that can save companies millions of dollars. Efficiency is a major market driver, and savvy vendors will adopt tools that streamline data management.
This Navigant Research Strategy Insight report discusses workable definitions of digital twins and AI. It includes perspective on why there are so many definitions for each technology and how to frame them optimally. This report offers suggestions for selecting the right kind of digital twin for different needs. It also provides recommendations for asset-based companies on how to choose the best iteration of digital twin for their respective needs.
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