Digital Glyde was created in January 2020 to help Oil & Gas companies better plan their operations through the use of innovative new technologies, including cloud computing and digital twinning.
But what is a digital twin?
In terms of business operations, a digital twin is a digital replica of all your physical assets, processes, people, places, systems, and devices that make up your entire operations. By creating and maintaining a digital twin, you can test out new ideas and new ways of working before applying them to your real-world activities. By comparing multiple digital transformations on your twin, you can determine which changes will be the most cost-effective for your business in the future. Machine learning can also be applied to your data so that your digital twin can learn from past results to create better and more realistic twins as you continually update your data.
A 2019 survey conducted by Gartner revealed that: “13% of organizations implementing Internet of Things (IoT) projects already use digital twins, while 62% are either in the process of establishing digital twin use or plan to do so,” They also predicted that by 2022, over two-thirds of companies that have implemented IoT will have at least one digital twin in production.
In terms of oil & gas, a digital twin can be used to reduce capital expenditure, accelerate production, increase recovery rates, reduce operating expenses improve health and safety procedures, and reduce environmental impacts. For example, you could simulate changes such as predicting the cost-effectiveness of adding a new facility or compare the effect of only developing two new oil wells versus the six you have planned on a well pad.
Just like other digital technologies, digital twins can be created using a cloud-based service. And just like any other cloud system, the amount and quality of the data, you can securely store and access on the cloud is the key to any successful cloud-based digital twin service. Digital twins aren’t static objects. They work best when you continually feed new data into the twin’s algorithms. By taking your historical data and using machine learning to create near realistic scenarios that you can test and review, the savings to your company can be substantial.
But like any service, both cloud computing and digital twins come with their own set of overheads. The skill sets required to maintain digital twins require specialized expertise in machine learning, artificial intelligence, predictive analytics, and other data-science capabilities.
The great thing about companies like Digital Glyde is that businesses can join the world of digital twinning without needing the expertise to create and manage all cloud-based services required to house your digital twins. Instead, This included the front-end applications used to interact with your digital twin, and the back-end systems used to store and manage your precious data securely. Digital Gylde can handle all this for you. We ensure that all the necessary data for your digital twins are stored securely and cost-effectively. Not only that, but we can guide you through the process of deciding how best to use your digital twin.
If you think using a digital twin is a good option for your business:
- Set a budget for your digital twins and don’t exceed it.
- Don’t be afraid to experiment, even in areas where you think you already have successful use cases.
- Educate and train yourself on the technologies needed to create successful digital twins.
- Reach out to IT experts and consultants to achieve the best digital twin technology experience.
So, if you’re interested in dipping your toe into the brave new world of digital twinning, why not contact Digital Glyde? We’ll quickly guide you through all the steps required to collect the data you need and help you create the perfect strategy to build your first digital twin.