Technology Digital Twin technology and its impact on industry

Organisations continually strive to strike a balance between increasing equipment efficiency and reducing overall maintenance costs. Asset service engineers and quality departments across industries, such as airlines, oil & gas, pharmaceuticals, telecom, automobiles, and others, are pushed continuously to optimise their planning and operational expenses. As the Industry 4.0 paradigm continues to evolve, the Digital Twins technology provides a pragmatic opportunity to leverage virtual models to also enable impact points such as to predict failures, prescribe actions, and support digital supply chain networks. A digital twin, by definition, offers a seamless convergence of the physical and digital worlds -- creating an ever-evolving digital profile of a physical asset based on its historical and current behaviour. The idea of using digital models to optimise asset efficiency is not new.