Why Most Digital Twin Projects Fail and How To Fix it

About this video

• Video Title: Why Most Digital Twin Projects Fail and How To Fix it
• Channel: Industry40tv
• Speakers: Not specified in the transcript
• Duration: 00:03:35

Overview

This video explains common reasons for digital twin project failures, emphasizing the need for IT-OT convergence, a scalable architecture, and a clear ROI. It highlights that successful projects start with the right people, a multi-use case roadmap, and a focus on achieving tangible business results.

Key takeaways

• IT-OT Convergence is Crucial: Companies often fail by not integrating IT and operational technology (OT) perspectives, leading to incomplete digital twin models or a focus on only a few use cases without a scalable architecture.
• People are the Foundation: Successful digital twin projects begin with individuals who understand both IT and OT and are empowered to lead digitization efforts.
• Balance Scalability and ROI: A key challenge is balancing the need for a scalable model architecture with the necessity of achieving return on investment (ROI) from the outset. Projects can fail if they build for scale but lack immediate ROI, or achieve initial ROI with technology that won't scale.
• Strategic Roadmap and Use Cases: Best practices involve developing a multi-year roadmap with multiple use cases (e.g., 3-5 over 2-3 years) rather than focusing on a single, myopic objective. These use cases should be explicitly tied to measurable business ROI, such as reducing downtime, scrap, or improving quality.