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Digital Twin Business Models for Strategy and Operational Management
In the business field, dynamic models have long been used for simulating long-term plans (3+ years) and medium-term challenges and issues playing out over a few months or quarters. But models have also been used to understand shorter-term phenomena, such as in supply-chain and service-delivery cases. Often, though, the same structures and mechanisms operate over both short and long-time scales. Examples include customer acquisition and retention, and staffing (hiring, promotion, and turnover), and performance-improvement programs. This webinar will show how a single model can capture both short-term and strategic views of the same issue, enabling management to have a coherent long-term plan and to check the impact of that plan on short-term tactical episodes. Taken to the extreme, this approach can get close to offering a “digital twin” of a business or some part of the business, that closely matches its actual performance as well as the development of the wider system that drives that performance. Similar considerations may well apply to plans and challenges in other domains. In this webinar, you will learn:
- The benefits of using System Dynamics to capture both short-term and long-term perspectives of a business issue.
- How to design and implement effective digital twin architectures that can improve organizational performance.
- Real-world examples and case studies of how System Dynamics and digital twins have been used to optimize business performance and drive competitive advantage.