Hello and welcome to a new nanoMOOC episode about digital twins. My name is Kai Lindow and in this episode we will look into the benefits of successfully establishing digital twins. Based on this, I can recommend the module of industrial success stories, which translates this module into practice. If we have a look into the available journals and research, it becomes apparent that the expected potential can be immense due to the introduction of digital twins. Global market insight for example describes an available market of more than 15 billion dollars in 2023. A study from Gartner explains that almost half of the companies using IOT technologies also plan to introduce digital twins. It is also expected that the number of companies using digital twins will triple by 2022. And so this is no surprise that global market insight says the digital twins are a top strategic technology trend. But what exactly can I as an entrepreneur expect from a digital twin? Certainly, we increase data availability over the entire lifecycle and links between data. We work in model oriented and partly automated. All of that brings plenty of opportunities. In the area of quality, we can enable our developers to respond more adequately to actual customer behavior, from the usage data of their products, or we automatically detect the trend of quality defects or even predict them. In the area of warranty costs and services, we can rely on exact descriptions of the available products based on the digital twin - always a challenge for example in plant construction. We can record the available product configuration at any time in real time even after numerous conversation and maintenance measures. This allows us to optimally adapt our service based on this. Operating costs: in the operation of products, we want to reduce all the necessary resources as far as possible. Not an easy task given regarding the large number of subsystems established today. But, the product can help us. In production, for example, the digital twins can communicate with each other and an optimal production sequence can be found. At this, together with a simplified setup of the systems by digital twins results an increased process flexibility for us. But it is not only the coordination of the individual machines that digital twins can support us. We can also optimize the performance of the machines. By recording the sensor data for example and the subsequent analysis supported by the available and linked models and intelligences, we can get more out of our systems to achieve a more reliable quality We have long since become accustomed to our products undergoing continuous improvement and expansion. However, this is not an easy task for companies. For each product, depending on its configuration, it must be checked whether an outline update is possible and useful. So it's about keeping track of things. Here too the digital one can help us because we have a precise description of existing configuration of the product, which is in the field. In the end, it is about money. Ultimately, this concept also proves opportunities for a sales growth. First of all the digital twin optimizes information availability and that is worth it because developers spend about a fifth of their time searching for information. But this is not only here that we raise potential. As shown, we also optimized the production and the maintenance of the products. And finally the digital twin also offers us the opportunity to establish completely new business models. Offering product based services, it's much easier with the digital twin than not having it. As we can see there's a lot of potential in establishing and running digital twins. But how's the situation in industry? That's what Gartner found out. According to the study, almost a quarter of all companies already used digital twins. Another quarter is on the brink. They plan to use digital twins in the very near future. In my opinion, therefore it is the right time to start establishing and running digital twins in your company. I would like to thank you for watching and hopefully see your company soon with digital twins on the market.
