Realizing the potential for digital twins in rail
by
Meg Davis
for
Railway Age
Recommended by
Paul Shale
Chief Commercial Officer
An opinion piece on the benefits of digital twins during the planning, build, and operations phase of rail.
No quantified ROI but $222m in predicted savings for Maha Metro (Maharashtra, India) over 10 years driven by condition-based monitoring enabling predictive maintenance.
Why it’s relevant to Nextspace
The relevance of this to Nextspace Partners is to beware of promoting non-quantified benefits to customers.
It's easy to list off improvements, reductions, savings, increases, optimizations—but means little without a specific digital twin strategy for your customer.
Start small with valuable but achievable ROI and layer the twin build. It's a journey that requires iteration, not a one-off implementation, set and forget.
The US$222m benefits promised in this article are due to be realised by 2028, and being maintenance should be weighted towards the end of the decade of a new build.
Meg, if you're reading this, we'd love an update. Otherwise, we've diaried this one to follow up in a few years' time.
More recommended reads
By
XMPro
for
YouTube
A quick recap of the stages of Industrial Revolution - from 1760
By
Mike Elgan
for
Computerworld
An article that seeks to distance metaverse hype from the value of industrial digital twins
By
Dr Michael Grieves
for
IOT Solutions World Congress 2023
The value of Digital Twins can only be realized if Digital Twins and their virtual environment contain the same data and resulting information as their corresponding Physical Twins and real-world environment. This means that the need for more extensive, faster, and richer sensing of the physical world will dramatically increase as valuable use cases proliferate. In addition, we will evolve from working in physical or virtual environments to integrating and working simultaneously in both environments. Dr. Grieves discusses his views on the opportunities and issues of this evolution.
