Incremental investment and understanding the digital twin maturity model can help utilities avoid implementation pitfalls
Dec. 11, 2019 – Boulder, Colo. – A new report from Navigant Research discusses practical definitions of digital twins and artificial intelligence (AI) and provides recommendations for asset-based companies on how to select the right kind of digital twin for their needs.
A lot of publicity and confusion surround the ideas of digital twins and AI. Yet the hype should not detract enterprises from investigating these concepts, which go hand in hand. Click to tweet: According to a new report from @NavigantRSRCH, digital twins could inform new analytics-based business processes that save companies millions of dollars.
“Digital twins are nothing new; rather, they change the conversation regarding data management,” says Richelle Elberg, principal research analyst with Navigant Research. “With efficiency as a major market driver, this data management approach opens the door to improved processes and huge savings. Savvy vendors will adopt tools that streamline data management.”
There are few technological prerequisites for a digital twin. Navigant Research describes digital twins as more of a mindset than a technology. The report proposes six maturity dimensions for digital twins, which can be as basic as one datum, and help companies pick the right priorities in implementation planning.
The report, Digital Twins and AI Deliver the Energy System of Tomorrow, 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 provides recommendations for asset-based companies on how to choose the best iteration of digital twin for their respective needs. Case studies of digital twin deployments by asset intensive industries are also included. An Executive Summary of the report is available for free download on the Navigant Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant – a Guidehouse company, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of clean, intelligent, mobile, and distributed energy. Additional information about Navigant Research can be found at www.navigantresearch.com.
About Guidehouse
Guidehouse is a leading global provider of consulting services to the public and commercial markets with broad capabilities in management, technology, and risk consulting. We help clients address their toughest challenges with a focus on markets and clients facing transformational change, technology-driven innovation and significant regulatory pressure. Across a range of advisory, consulting, outsourcing, and technology/analytics services, we help clients create scalable, innovative solutions that prepare them for future growth and success. Headquartered in Washington DC, the company has more than 7,000 professionals in more than 50 locations. Guidehouse is led by seasoned professionals with proven and diverse expertise in traditional and emerging technologies, markets and agenda-setting issues driving national and global economies. For more information, please visit: www.guidehouse.com.
Guidehouse is a leading global provider of consulting services to the public and commercial markets with broad capabilities in management, technology, and risk consulting. We help clients address their toughest challenges with a focus on markets and clients facing transformational change, technology-driven innovation and significant regulatory pressure. Across a range of advisory, consulting, outsourcing, and technology/analytics services, we help clients create scalable, innovative solutions that prepare them for future growth and success. Headquartered in Washington DC, the company has more than 7,000 professionals in more than 50 locations. Guidehouse is led by seasoned professionals with proven and diverse expertise in traditional and emerging technologies, markets and agenda-setting issues driving national and global economies. For more information, please visit: www.guidehouse.com.
