What does digital twin mean anyway?
Is digital twin the buzzword that will bring down asset management? Learn about the ambiguity of digital twin technology and how Precision Reality Twins can take its place in our free discussion paper.
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Digital twins have become increasingly popular in asset management. However, there is ambiguity in the definition of digital twin technology, and the variations can vary greatly. Do they all do the same thing? For the same industry? To produce the same result? At the same quality?
The much more complicated answer is digital twins have evolved, but our language to define them hasn’t evolved at the same pace – and what they once were has diversified into different products with huge variations in quality and detail.
As asset management becomes more ESG-focused, selecting technology platforms built-for-purpose – underpinned by safety, security and accuracy – becomes more crucial.
But, when the digital twin space now includes hundreds of distinct output types and thousands of suppliers, how can we be expected to choose the software that will drive the industry forward, rather than undermining it?
Precision Reality Twins (PRTs) are a potential solution to the ambiguity of digital twin technology. They offer benefits such as 80% more coverage, 95% time saving, 50% cost saving, and reduced safety risk compared to traditional inspection methods.
“When a search for ‘digital twin’ on Google reveals more than 528 million results – how do asset managers who are looking for an accurate, quality, purpose-built and reliable solution, ever find the products that will truly propel the industry (and their company) forward, rather than undermining it?”
– Digital Twin: the buzzword that will bring down asset management
Success Stories with Trendspek
"Using the other platform, I can’t see anything, I can’t see the texture of the concrete or cracking in the concrete. When I use the model in Trendspek, the texture and any defects are obvious.
That level of forensic clarity is what leads to an outcome, it leads to that image being sent to the engineer to get advice or form a decision with confidence."
– Mike Larkin, Fulcrum
“One of the things I like is we have a very good relationship with the Trendspek team. Any time we need anything, we can call them and get it sorted out. If we have an idea of something we’d like in the platform in the future, we just call them up and let them know.
Trendspek helped us provide a solution to our customers – it is cloud-based and that made it easier for them to see their assets.”
- Jasper Nederlof, supRmen
"With Trendspek we can see things we never could before, that we would have spent months getting to, and we can control the repair process and cost far more efficiently, benefiting our clients with an enhanced service."
- Ian Godson, Infracorr
“Innovation is a massive way to create value for our investors, as is risk mitigation. When compared to competitors and the traditional approaches of inspection, Trendspek was miles ahead on time, cost and accuracy.”
- Andrew Neary, PGIM Real Estate
We work closely with some of the world’s biggest asset managers, to deliver the most accurate, 3D asset models you’ve ever seen!
Taking clients to new heights
Whitebay Power Station
The Precision Reality Twin of Sydney's historic White Bay Power Station, was captured in just a few days for CBRE, giving them the detail they needed to plan asset repairs and restoration.
Hobart Water Works
Trendspek's high fidelity, Precision Reality Twin of Hobart's Water Works, commissioned by Fulcrum, enables critical maintenance and risk mitigation decisions.
Queen Street, Brisbane
Captured in just four hours, this Precision Reality Twin for PGIM Real Estate, helps the company determine if a potential purchase will deliver the desired return.