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5 Innovative Tools to Digitally Transform Your Enterprise in 2021

The future of work is digital but before the Covid-19 pandemic, enterprises generally took a slow and steady approach to the integration of digital transformative processes. Following the pandemic, the adoption rate is moving at an accelerated pace as organizations seek to protect workers and customers while delivering optimized services. This increased adoption rate is also expected to see investments in digital transformation tools nearly double by 2023. So, here are some top innovative digital transformation tools to take your organization’s digital transformation drive to the next level.

Edge Computing Solutions

Edge computing refers to both the hardware and software solutions that support low latency computing closer to data-producing sources. Edge hardware includes IIoT devices, smart devices, and any hardware that can process data without reliance on a centralized computing platform. Thus, the edge guarantees decentralization when processing or analyzing data which supports diverse real-time applications or automation strategies.

  • Industries – Edge computing provides multiple use cases for digitally transforming processes across diverse industries. The top industries expected to gain the most from adopting edge computing as a digital transformation tool include the manufacturing industry, the automotive industry, healthcare, and finance.
  • Uses – Manufacturers are expected to rely on the edge to capture data from legacy machines and processes to drive Industry 4.0 use cases such as predictive manufacturing. The automotive industry is going smart and the required sensors needed to drive the smart revolution are edge devices. In finance and healthcare, edge computing is used as a monitoring tool to support mobile banking and med-tech initiatives.

Augmented Reality

Pokémon Go going viral introduced many to the possibilities of applying augmented reality in diverse ways. Today, virtual reality has been embraced as a planning, validation, monitoring, and training tool by organizations interested in speeding up specific business processes or ensuring employee safety. Augmented reality is being used by industries such as:

  • Industries – The training and validation capabilities of augmented reality makes it an important digital transformation technology that can be applied across every industry. This includes the manufacturing, education, healthcare, and engineering industries that develop virtual learning environments, as well as, the hospitality and architectural industry which uses it as a planning tool.
  • Uses – Augmented reality is deployed as validation, training, planning, and analytical tool across diverse industries.

Simulation Modeling and Scheduling Software

While augmented reality provides a virtual environment for validating and testing ideas, simulation models provide an intelligent object-based platform for evaluating complex operational platforms and providing optimized solutions for implementation. Simulation modeling and scheduling software is a digital transformation tool that utilized data analytics to solve capacity planning, resource management, scheduling, and production planning problems.

  • Industries – Every organization that intends to gain insight into its operations to optimize functionality can rely on this digital transformation technology for data-driven insight. This includes manufacturing, healthcare, transportation, automotive, aviation, mining etc.
  • Uses – Simulation modeling is an extensive data analytics, evaluation and validation tool which relies on operational data sets to solve complex problems and answer what-if questions. Simulation modeling can be used to provide solutions to challenges ranging from optimizing operational schedules to developing a predictive maintenance strategy and from optimizing available resources to solving opportunity cost questions.

Blockchain

The Blockchain refers to a list of blocks, also called records, which are linked together through cryptography. Although Bitcoin may be the most popular aspect of today’s Blockchain environment, this digital transformative technology offers much to organizations across diverse industries. The Blockchain’s ability to permanently record the transactions of multiple parties in a verifiable way is its major selling point to organizations interested in going digital with their transactions.

  • Industries – The major industries that currently rely on Blockchain technology are the finance industry, industrial manufacturing, and telecommunications industry. The legal industry is also steadily embracing Blockchain technology through its smart contract capabilities.
  • Uses – The Blockchain’s ability to connect systems and processes across multiple entities makes it a technology that guarantees transparency. Enterprises also rely on the Blockchain for improved security, to optimize supply chains, secure intellectual property, and as a decentralized system for storing data.

The Digital Twin

The digital twin is a virtual mirror representation of physical objects, systems, and processes but unlike augmented reality or a simulation model, it is a cyber-physical entity where both the physical and virtual entity interacts in near-real time. Thus, changes that occur within the physical entity are reflected in the digital twin while changes to the digital twin can be made to reflect on the physical entity. The digital twin is a digital transformation tool that thrives on data collected from edge devices, IIoT, and any data producing source an enterprise uses. This means a digital twin can be built of any object, facility, and process in every industrial sector.

  • Industries – The manufacturing, automotive, transportation, and healthcare industry are currently huge beneficiaries of the diverse features and benefits digital twins offer. Other industries such as the hospitality, aviation, defense, and financial industry can also benefit from using the digital twin as an analytical tool.
  • Uses – The digital twin is used as a process control, monitoring, process evaluation, and data analytics tool across diverse industrial sectors. It can also be used as training and validation tool when necessary.

Conclusion

The recorded successes of implementing digital transformation technologies include increased revenue growth, optimized resource management, facilitating remote work, and accurate data-driven business insights. These benefits mean that the digital transformation of the industrial space is expected to continue at an accelerated pace during the Covid-19 era and post Covid-19. You can learn more about applying Digital Twin and Simulation Modeling technologies to optimize your business processes by requesting a demo of Simio Software.

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