Digital Twin for Performance Management – Bayesian People Analytics Simulation with AI
Digital twins are emerging new technology that enables companies to solve problems faster and improve operational efficiency. Think about performance effect when every supervisor has world’s best leader as a personal advisor.
Digital twin is a near-real-time digital model of reality that helps optimize business performance. We have created AI powered digital twin that simulates business unit’s performance. It will provide help with human asset management and improving business performance. There are sophisticated algorithmic analyzing techniques that simulate human capital productivity. Digital twin can be in connection with organization ERP-system, collecting various data. We have scientifically approved the algorithms and rules, so it is not an AI-black-box.
“Over time, digital representations of virtually every aspect of our world will be connected dynamically with their real-world counterparts and with one another and infused with AI-based capabilities to enable advanced simulation, operation and analysis” David Cearley, Gartner Research.
Digital twin is continuously evolving digital model of organization system that helps optimizing business performance. It simulates human performance and includes real-life data that improves prediction accuracy. Digital twin models complicated human assets that interact in many ways with organization environment, thus making the outcomes that are difficult to predict by human mind. With the digital twin, the manager can learn by simulating the problems and actions outcomes.
Twin provides near-real-time comprehensive link between physical and digital worlds. Digital twin is a virtual replica of what is actually happening in the organization performance. It knows how the organization performance-system works. There is artificial intelligence assistant that you can ask advice. This AI-assistant will simulate the future using Bellman function and suggest the leadership activities that produce sustainable business value. Digital twin simulates specific complex human assets utilization in order to monitor and evaluate human capital productivity. Simulation may uncover insight into operational inefficiencies, that otherwise would remain unseen.
How does the performance digital twin create measurable business value? With better human assets management there are multitude positive effects on organization performance:
- Improve employee quality of working life as a production parameter
- Enhance change management process undependable of the change in hand
- Reduce sickness leave
- Reduce employee turnover
- Increase effective working time to make more revenue and profit
- Improves customer satisfaction
- Predict work and staff related problems
Besides the business values mentioned above, there are strategic benefits, which create competitive advantages in longer period. We are looking for companies for testing and further developing the emerging new technology of digital twin.
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Marr, Bernard (2017). What is digital twin technology – and why is it so important. Forbes Mar 6 2017, https://www.forbes.com/sites/bernardmarr/2017/03/06/what-is-digital-twin-technology-and-why-is-it-so-important/#6ea8eea92e2a
Panetta, Kasey (2017). Gartner Top 10 Strategic Technology Trends for 2018. Gartner October 3, 2017, https://www.gartner.com/smarterwithgartner/gartner-top-10-strategic-technology-trends-for-2018/
Parrott, Aaron and Warshaw, Lane (2017). Industry 4.0 and the digital twin. Deloitte University Press. https://www2.deloitte.com/content/dam/Deloitte/cn/Documents/cip/deloitte-cn-cip-industry-4-0-digital-twin-technology-en-171215.pdf
Posted on February 18, 2019, in Human Capital, Human Capital Performance, Human Resource Development, Human Resource Development, HRD, Quality of Working Life, Uncategorized and tagged artificial intelligence, Bayesian people analytics, digital twin, game theory, HRM, management, people analytics, productivity. Bookmark the permalink. Leave a comment.