Data Models and Digital Twins for the Digital Economy: Real, Augmented, and Synthetic Data in Decision Support Systems
Permanent URI for this collection
1 - 3 of 3
ItemValue Generation in the Product Lifecycle with Digital Twins: Status Quo in Swiss Companies( 2022-01-04)Value generation with digital twins along the phases of the product lifecycle affects different processes from a company's internal perspective. The present study investigated in which phases of the product lifecycle and processes swiss companies seek to generate what value contribution. The results of the survey of 103 companies show that only 47% of the companies surveyed are applying or planning to apply digital twins. The motivation primarily lies in increasing efficiency (79%) or in building competitive advantage (63%). These companies clearly recognize the potential of digital twins to create value in the Beginning-of-Life-phase (79%) and in the Middle-of-Life-phase (60%). In contrest, the use in the End-of-Life-phase (15%) is subordinate. The companies seek to generate value with digital twins by offering qualitatively better products and services in a shorter time or with higher availability. Cost savings seem secondary and overestimated by companies before they apply digital twins.
ItemDigital Twins: A Meta-Review on Their Conceptualization, Application, and Reference Architecture( 2022-01-04)The concept of digital twins (DTs) is receiving increasing attention in research and management practice. However, various facets around the concept are blurry, including conceptualization, application areas, and reference architectures for DTs. A review of preliminary results regarding the emerging research output on DTs is required to promote further research and implementation in organizations. To do so, this paper asks four research questions: (1) How is the concept of DTs defined? (2) Which application areas are relevant for the implementation of DTs? (3) How is a reference architecture for DTs conceptualized? and (4) Which directions are relevant for further research on DTs? With regard to research methods, we conduct a meta-review of 14 systematic literature reviews on DTs. The results yield important insights for the current state of conceptualization, application areas, reference architecture, and future research directions on DTs.