Value Creation With Digital Twins
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Value Creation With Digital Twins
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Author : Linard Dario Barth
language : en
Publisher: BoD – Books on Demand
Release Date : 2024-09-20
Value Creation With Digital Twins written by Linard Dario Barth and has been published by BoD – Books on Demand this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-09-20 with Business & Economics categories.
A digital twin is a digital representation of a real-world counterpart, which can receive and provide data to create value within a use case. Digital twins create value for users by enabling new and enhanced smart services. However, ambiguous definitions and terminology coupled with a lack of shared conceptual reference frameworks complicate cross-functional discussions and hinder the widespread implementation of digital twins. This thesis proposes a new definition and presents two conceptual reference frameworks to systematically depict value creation with digital twins. A design science research approach with mixed methods was used to iteratively design and evaluate these artifacts while ensuring scientific rigor, practical relevance, and usefulness. The applied methods within the five research phases include systematic literature research, interviews, workshops with academic experts, qualitative and quantitative questionnaires, workshops with practice experts, and an in-depth case study in smart waste management. The major findings of this research are (i) the proposal of a new definition of digital twins that reflects a practical understanding by focusing on value creation; (ii) a scientific conceptual reference framework focusing on completeness by distinguishing 81 elements involved in value creation with digital twins; (iii) a second, more application-oriented conceptual reference framework focusing on the interrelations of the elements essential for the value creation in practice; and (iv) an instantiation of the application-oriented framework for the use case of the in-depth case study. All artifacts are consistent in content and include the following main dimensions, which are to be considered when creating value with digital twins: data resources, internal value creation, and external value creation. These artifacts contribute to a common understanding of value creation with digital twins in research and practice. Furthermore, they enable researchers and practitioners to structure their digital twin activities and communicate them to internal and external stakeholders.
Building Industrial Digital Twins
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Author : Shyam Varan Nath
language : en
Publisher: Packt Publishing Ltd
Release Date : 2021-11-02
Building Industrial Digital Twins written by Shyam Varan Nath and has been published by Packt Publishing Ltd this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-11-02 with Computers categories.
Build your first digital twin MVP and gain first-hand experience of using the technology, the challenges it presents, and its impact on your organization Key FeaturesCreate a digital twin prototype using Microsoft Azure Digital TwinExplore the digital twin approach to the design, operations, and maintenance of industrial assets and productsUnderstand key characteristics and components of a digital twin through practical use cases and business scenariosBook Description Digital twin technology enables organizations to create digital representations of physical entities such as assets, systems, and processes throughout their life cycle. It improves asset performance, utilization, and safe operations and reduces manufacturing, operational, and maintenance costs. The book begins by introducing you to the concept of digital twins and sets you on a path to develop a digital twin strategy to positively influence business outcomes in your organization. You'll understand how digital twins relate to physical assets, processes, and technology and learn about the prerequisite conditions for the right platform, scale, and use case of your digital twins. You'll then get hands-on with Microsoft's Azure Digital Twins platform for your digital twin development and deployment. The book equips you with the knowledge to evaluate enterprise and specialty platforms, including the cloud and industrial IoT required to set up your digital twin prototype. Once you've built your prototype, you'll be able to test and validate it relative to the intended purpose of the twin through pilot deployment, full deployment, and value tracking techniques. By the end of this book, you'll have developed the skills to build and deploy your digital twin prototype, or minimum viable twin, to demonstrate, assess, and monitor your asset at specific stages in the asset life cycle. What you will learnIdentify key criteria for the applicability of digital twins in your organizationExplore the RACI matrix and rapid experimentation for choosing the right tech stack for your digital twin systemEvaluate public cloud, industrial IoT, and enterprise platforms to set up your prototypeDevelop a digital twin prototype and validate it using a unit test, integration test, and functional testPerform an RoI analysis of your digital twin to determine its economic viability for the businessDiscover techniques to improve your digital twin for future enhancementsWho this book is for The digital twin book is for mid-career subject experts, including engineers and operations managers, building their first prototype (MVP) using digital twin technology. The book will help professionals responsible for mechanical, process, and reliability engineering domains. You don't have to be a developer or programmer, but beginner-level programming skills will be helpful.
Generation And Update Of A Digital Twin In A Process Plant
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Author : Josip Stjepandić
language : en
Publisher: Springer Nature
Release Date : 2024-01-01
Generation And Update Of A Digital Twin In A Process Plant written by Josip Stjepandić and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-01-01 with Science categories.
This book covers the most important subjects of digital twin in a process plant, including foundations, methods, achievements, and applications in a brownfield environment. Besides offering a variety of applications and procedural variants from research and industrial practice, this book also provides a comprehensive insight into holistic plant planning. It also discusses the challenges that currently exist in different application areas. This book would be of interest to industry professionals and researchers in industrial and manufacturing engineering.
Empowering Value Co Creation In The Digital Era
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Author : Sousa, Bruno Barbosa
language : en
Publisher: IGI Global
Release Date : 2025-04-23
Empowering Value Co Creation In The Digital Era written by Sousa, Bruno Barbosa and has been published by IGI Global this book supported file pdf, txt, epub, kindle and other format this book has been release on 2025-04-23 with Business & Economics categories.
In the digital era, the concept of value co-creation evolved from a passive exchange to a dynamic, collaborative process that empowers organizations and consumers. The rise of interconnected technologies, data-driven insights, and digital platforms unlock new avenues for creating shared value. Companies can now engage customers, partners, and competitors in real-time, transforming traditional business models into systems of innovation. Empowering value co-creation fosters an environment where all stakeholders contribute, interact, and obtain mutual benefits, driving sustainable growth, customer satisfaction, and competitive advantage. Empowering Value Co-Creation in the Digital Era explores emerging trends in co-creation in business, highlighting how value co-creation can transform customer relationships in the digital era and digital age. It examines the evolution and trends of digital transformation and its implications in organizations and customer relationship management. This book covers topics such as entrepreneurship, digital technology, and manufacturing, and is a useful resource for business owners, entrepreneurs, computer engineers, academicians, researchers, and data scientists.
The Digital Twin
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Author : Noel Crespi
language : en
Publisher: Springer Nature
Release Date : 2023-06-02
The Digital Twin written by Noel Crespi and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-06-02 with Technology & Engineering categories.
The Digital Twin book is about harnessing the power of technology, business practices, and the digital infrastructure to make revolutionary improvements for the benefit of society. Ninety experts from around the world contributed to summarize four decades of digital advances and successes, and to define the Digital Twin’s potential for the decades ahead. The book describes how Digital Twins will play a key role in specific applications and across important sectors of the global economy, making it a must-read for executives, policymakers, technical leaders, researchers, and students alike. The book consists of thirty-eight chapters that cover Digital Twin concepts, supporting technologies, practices, and specific implementation strategies for various production and service sectors. Digital Twins are about creating faster, less expensive, and error-free manufacturing, products, processes, and services. This includes engineering of systems for energy, communications, construction, transportation, and food processing. It also covers solutions for making human existence better and more enjoyable through the life sciences, smart cities, and artistic creations. The Digital Twin’s functionality addresses the entire lifecycle of products and services. Importantly, the book describes the journey required for businesses and public organizations to embrace Digital Twins as part of their tool kit. The Digital Twin is the ideal starting point for teaching and research in all application domains.
Handbook Of Digital Twins
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Author : Zhihan Lyu
language : en
Publisher: CRC Press
Release Date : 2024-05-29
Handbook Of Digital Twins written by Zhihan Lyu and has been published by CRC Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-05-29 with Computers categories.
Over the last two decades, Digital Twins (DTs) have become the intelligent representation of future development in industrial production and daily life. Consisting of over 50 chapters by more than 100 contributors, this comprehensive handbook explains the concept, architecture, design specification and application scenarios of DTs. As a virtual model of a process, product or service to pair the virtual and physical worlds, DTs allow data analysis and system monitoring by using simulations. The fast-growing technology has been widely studied and developed in recent years. Featured with centralization, integrity and dynamics, it is cost-effective to drive innovation and performance. Many fields saw the adaptation and implementation across industrial production, healthcare, smart city, transportation and logistics. World-famous enterprises such as Siemens, Tesla, ANSYS and General Electric have built smart factories and pioneered digital production, heading towards Industry 4.0. This book aims to provide an in-depth understanding and reference of DTs to technical personnel in the field, students and scholars of related majors, and general readers interested in intelligent industrial manufacturing.
Digital Disruptive Innovation
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Author : Joe Tidd
language : en
Publisher: World Scientific
Release Date : 2019-08-21
Digital Disruptive Innovation written by Joe Tidd and has been published by World Scientific this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-08-21 with Technology & Engineering categories.
'Its focus is the major theme of digital innovation and it tries to go beyond the hype associated with much of the discussion of this important area … The discussion in the book stresses the need to move our thinking about innovation beyond the level of enterprise to consider ecosystems and complementary assets … Overall this is a useful book, not least because in addition to opening up key lines for further research enquiry the book also has a strong international flavour with contributions from a wide and diverse set of contexts.'International Journal of Innovation ManagementThere is no doubt that digital technologies have the potential for disruptive innovation in a wide range of sectors, both in manufacturing and services, and the commercial and social domains. However, popular commentaries on the potential of digital innovation to disrupt have suffered from two extreme positions: either, simplistic technological determinism, often promoted by technology vendors, claiming that the impending widespread automation of products and services will provide step-changes in productivity and new products and services; or alternatively, very high-level broad discussions of business model innovation in traditional sectors, private and public. However, the impacts will not be universal, and the outcomes will be highly-differentiated. More fundamentally, neither a narrow technological perspective or broad business view adequately captures the appropriate level of granularity necessary to understand the potential and challenges presented by digital innovation. In this book, Digital Disruptive Innovation, we apply innovation concepts, models and research to provide greater insights into strategies for, and management of, digital innovation.
The Value Chain Network
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Author : David W. Walters
language : en
Publisher: Springer Nature
Release Date : 2023-11-15
The Value Chain Network written by David W. Walters and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-11-15 with Business & Economics categories.
This book explores how the network sustainable business model is being built in response to the significant changes that are increasing strategic effectiveness and operating efficiency. Incorporating the new post-COVID19 digital landscape, it synthesizes the outputs of practitioner oriented publications and integrates these with classic concepts in operations strategy to provide a unique perspective on value generally, and the value chain network as a part of the business model in the Industry 4.0/5.0 environment specifically. Including illustrative case examples and pursuing a unique workbook approach, each chapter is built around a set of diagrams, making the concepts more accessible for graduate business students and practitioners alike.
Emerging Ecosystem Centric Business Models For Sustainable Value Creation
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Author : Ziouvelou, Xenia
language : en
Publisher: IGI Global
Release Date : 2021-08-06
Emerging Ecosystem Centric Business Models For Sustainable Value Creation written by Ziouvelou, Xenia and has been published by IGI Global this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-08-06 with Business & Economics categories.
A hyperconnected, constantly evolving world has emerged. A world where people (internet of people), things (internet of things), and data (internet of data) are linked together, shaping the global economy while demanding new, innovative approaches for value creation. The era of hyper-connectivity is no longer characterized by centralized firm-centric business structures and traditional intra-firm and inter-firm processes. Open, distributed ecosystemic formations have started to emerge, utilizing cutting edge technologies to harness the collective power, co-creation ability, and intelligence of the crowd, the data, and the environment in an open participatory value co-creation mode. However, the question has become whether the frameworks, models, and tools that organizations use to create value will remain the same in the new business environment and within the organizations themselves. Existing literature on ecosystems, business models, and business model innovation are starting to examine these aspects. Emerging Ecosystem-Centric Business Models for Sustainable Value Creation explores emerging technology-enabled ecosystems and ecosystem-centric business models in theory and practice, from a business and technological perspective, and in a range of industrial settings, aiming to contribute to the existing knowledge of innovative technology-advanced ecosystems and business models, facilitating their design, implementation, and sustainable value creation. It examines the dynamics of this technology-powered revolution and how it is influencing the foundations of value creation and business modeling in novel ecosystemic formations across the HMD triangle: human, machine, and data. The target audience of this book is researchers and professionals in the fields of innovation, business, and strategy as well as computer science and information technology, along with managers, executives, practitioners, researchers, academicians, and students interested in new ways to create value in emerging and future ecosystems via innovative ecosystem-centric business models and strategies.
Handbook Of Industrial And Business Applications With Digital Twins
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Author : Saravanan Krishnan
language : en
Publisher: CRC Press
Release Date : 2024-12-30
Handbook Of Industrial And Business Applications With Digital Twins written by Saravanan Krishnan and has been published by CRC Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-12-30 with Computers categories.
A digital twin represents the indistinguishable digital counterpart of the physical object to simulate, monitor and test with real time synchronization. This book presents the framework and important key aspects of digital twins, including various technologies with coverage of the digital twins in various industry and business applications. It provides a background of modeling and simulation, computer sensor technology and other areas required creating the next wave of digital twins. Features: Presents exclusive material on industrial and business applications of digital twins Includes diversified digital twin applications with use cases Focuses on tools and methods for digital twins, platforms, application domains and industries Emphasizes advances and cutting-edge technologies throughout Reviews artificial intelligence (AI), fog/edge computing, industrial automation, blockchains and the Internet of Things (IoT) This book is aimed at researchers and graduate students in cloud computing, simulation, the IoT and computer engineering.