Welcome!

Machine Learning Authors: Jack Jachner, Liz McMillan, Kevin Benedict, Leon Adato, Pat Romanski

Related Topics: @ThingsExpo, Artificial Intelligence, @BigDataExpo

@ThingsExpo: Blog Feed Post

Me, Myself and Digital Twins | @ThingsExpo #AI #IoT #BigData #DX #DigitalTransformation

It’s hard to get into the world of the Internet of Things (IoT) without eventually talking about Digital Twins

It’s hard to get into the world of the Internet of Things (IoT) without eventually talking about Digital Twins. I was first exposed to the concept of Digital Twins when working with GE. Great concept. But are Digital Twins only relevant to physical machines such as wind turbines, jet engines, and locomotives? What can we learn about the concept of digital twins that we can apply more broadly – to other physical entities (like contracts and agreements) and even humans?

What Is a Digital Twin?
A Digital Twin is a digital representation of an industrial asset that enables companies to better understand and predict the performance of their machines, find new revenue streams, and change the way their business operates[1].

GE uses the concept of Digital Twins to create a digital replica of their physical product (e.g., wind turbine, jet engine, locomotive) that captures the asset’s detailed history (from design to build to maintenance to retirement/salvage) that can be mined to provide actionable insights into the product’s operations, maintenance and performance.

The Digital Twin concept seems to work for any entity around which there is ongoing activity or “life”; that is, there is a continuous flow of new information about that entity that can constantly update the condition or “state” of that entity.

The Digital Twin concept is so powerful that it would be a shame to not apply the concept beyond just physical products. So let’s try to apply the Digital Twin concept to another type of common physical entity – contracts or agreements.

Applying Digital Twins to Contracts
Many contracts and agreements have a life of their own; they are not just static entities. Many contracts (e.g., warranties, health insurance, automobile insurance, car rental agreements, construction contracts, apartment rental agreements, leasing agreements, personal loans, line of credit, maintenance contracts) once established, have a stream of ongoing interactions, changes, enhancements, additions, enforcements and filings. In fact, the very process of establishing a contract can constitute many interactions with exchanges of information (negotiations) that shape the coverage, agreement, responsibilities and expectations of the contract.

Let’s take a simple home insurance contract. Once the contract is established, there is a steady stream of interactions and enhancements to that contract including:

  • Payments
  • Addendums
  • Claims filings
  • Changes in terms and conditions
  • Changes in coverage
  • Changes in deductibles

Each of these engagements changes the nature of the contract including its value and potential liabilities. The insurance contract looks like a Digital Twin of the physical property for which it insures given the cumulative history of the interactions with and around that contract.

Expanding upon the house insurance contract as a living entity, the insurance company might want to gather other data about the property in order to increase the value of the contract while reducing the contract’s risks, liabilities and obligations. Other data sources that the insurance company might want to integrate with the house insurance contract could include:

  • Changes in the value of the home (as measured by Zillow and others)
  • Changes in the value of the nearby homes
  • Changes in local crime
  • Changes in local traffic
  • Changes in the credentials and quality of local schools
  • Quality of nearby parks
  • Changes in zoning (the value and liabilities of a house could change if someone constructs a mall nearby)
  • Changes in utilities (a house with lots of grass might not be as attractive as the price of water starts to increase)
  • New nearby construction permits (residential and commercial)
  • Aerial photos (to check for unauthorized additions or construction)
  • Changes in the location of mass transit
  • Even predicted changes in local climate (see Figure 1)

Figure 1: “As Climate Changes, Southern States Will Suffer More Than Others” New York Times

If the goal of the insurance company holding the home insurance policy is to 1) maximize the value of that policy while 2) reducing any potential costs, liabilities and obligations, then creating a Digital Twin via a home insurance contract seems like a smart economic move.

Applying Digital Twins to Humans
“Big Data is not about big data; it’s about getting down to the individual!”

Your customers and prospects are leaving their digital fingerprints everywhere on the Internet. From social media (likes, retweets, posts, shares), mobile apps, website clicks, keyword searches, blog postings, on-line forum comments, posting photos, listening to music and watching videos, your customers and your best prospects are sharing their digital DNA including their interests, passions, associations and affiliations (see Figure 2).

Figure 2: Consumers Digital Fingerprint

One of the keys to data monetization is to understand the behaviors and tendencies of each individual including consumers, students, teachers, patients, doctors, nurses, engineers, technicians, agents, brokers, store managers, baristas, clerks, and athletes. In order to better serve your customers, you need to capture and quantify each individual customer’s preferences, behaviors, tendencies, inclinations, interests, passions, associations and affiliations in the form of actionable insights (such as propensity scores). See Figure 3.

Figure 3: Big Data About Insights at Level of the Individual

These actionable insights can be captured in an Analytic Profile for re-use across a number of use cases including customer acquisition, retention, cross-sell/up-selling, fraud reduction, money laundering, advocacy development and likelihood to recommend (see Figure 3).

Figure 4: Analytic Profiles as Data Monetization Foundation

The behavioral insights captured in the Analytic Profiles ultimately allow organizations to optimize their entire value chain process – from product design, development, and manufacturing to optimizing marketing activities, prioritizing sales efforts, and optimizing service and support activities (see “Big Data MBA: Course 101A – Unit III” for more details on opportunities for monetizing Michael Porter’s Value Chain Analysis).

Summary
GE uses the concept of Digital Twins to create a digital replica of a physical product that captures the asset’s detailed history (from design to build to maintenance to retirement/salvage) that can be mined to provide actionable insights into the product’s operations, maintenance and performance.

That same Digital Twins concept can be applied to contracts and agreements in order to increase the value of those contracts while minimizing any potential risks and liabilities.  And the Digital Twins concept can also be applied to humans in order to better monetize the individual human (customers) across the organization’s value creation process.

[1] https://www.ge.com/digital/industrial-internet/digital-twin

The post Me, Myself and Digital Twins appeared first on InFocus Blog | Dell EMC Services.

Read the original blog entry...

More Stories By William Schmarzo

Bill Schmarzo, author of “Big Data: Understanding How Data Powers Big Business”, is responsible for setting the strategy and defining the Big Data service line offerings and capabilities for the EMC Global Services organization. As part of Bill’s CTO charter, he is responsible for working with organizations to help them identify where and how to start their big data journeys. He’s written several white papers, avid blogger and is a frequent speaker on the use of Big Data and advanced analytics to power organization’s key business initiatives. He also teaches the “Big Data MBA” at the University of San Francisco School of Management.

Bill has nearly three decades of experience in data warehousing, BI and analytics. Bill authored EMC’s Vision Workshop methodology that links an organization’s strategic business initiatives with their supporting data and analytic requirements, and co-authored with Ralph Kimball a series of articles on analytic applications. Bill has served on The Data Warehouse Institute’s faculty as the head of the analytic applications curriculum.

Previously, Bill was the Vice President of Advertiser Analytics at Yahoo and the Vice President of Analytic Applications at Business Objects.

@CloudExpo Stories
IT organizations are moving to the cloud in hopes to approve efficiency, increase agility and save money. Migrating workloads might seem like a simple task, but what many businesses don’t realize is that application migration criteria differs across organizations, making it difficult for architects to arrive at an accurate TCO number. In his session at 21st Cloud Expo, Joe Kinsella, CTO of CloudHealth Technologies, will offer a systematic approach to understanding the TCO of a cloud application...
"With Digital Experience Monitoring what used to be a simple visit to a web page has exploded into app on phones, data from social media feeds, competitive benchmarking - these are all components that are only available because of some type of digital asset," explained Leo Vasiliou, Director of Web Performance Engineering at Catchpoint Systems, in this SYS-CON.tv interview at DevOps Summit at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
SYS-CON Events announced today that Secure Channels, a cybersecurity firm, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Secure Channels, Inc. offers several products and solutions to its many clients, helping them protect critical data from being compromised and access to computer networks from the unauthorized. The company develops comprehensive data encryption security strategie...
SYS-CON Events announced today that App2Cloud will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct. 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. App2Cloud is an online Platform, specializing in migrating legacy applications to any Cloud Providers (AWS, Azure, Google Cloud).
The goal of Continuous Testing is to shift testing left to find defects earlier and release software faster. This can be achieved by integrating a set of open source functional and performance testing tools in the early stages of your software delivery lifecycle. There is one process that binds all application delivery stages together into one well-orchestrated machine: Continuous Testing. Continuous Testing is the conveyer belt between the Software Factory and production stages. Artifacts are m...
WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web communications world. The 6th WebRTC Summit continues our tradition of delivering the latest and greatest presentations within the world of WebRTC. Topics include voice calling, video chat, P2P file sharing, and use cases that have already leveraged the power and convenience of WebRTC.
Cloud resources, although available in abundance, are inherently volatile. For transactional computing, like ERP and most enterprise software, this is a challenge as transactional integrity and data fidelity is paramount – making it a challenge to create cloud native applications while relying on RDBMS. In his session at 21st Cloud Expo, Claus Jepsen, Chief Architect and Head of Innovation Labs at Unit4, will explore that in order to create distributed and scalable solutions ensuring high availa...
For financial firms, the cloud is going to increasingly become a crucial part of dealing with customers over the next five years and beyond, particularly with the growing use and acceptance of virtual currencies. There are new data storage paradigms on the horizon that will deliver secure solutions for storing and moving sensitive financial data around the world without touching terrestrial networks. In his session at 20th Cloud Expo, Cliff Beek, President of Cloud Constellation Corporation, d...
Enterprise architects are increasingly adopting multi-cloud strategies as they seek to utilize existing data center assets, leverage the advantages of cloud computing and avoid cloud vendor lock-in. This requires a globally aware traffic management strategy that can monitor infrastructure health across data centers and end-user experience globally, while responding to control changes and system specification at the speed of today’s DevOps teams. In his session at 20th Cloud Expo, Josh Gray, Chie...
To get the most out of their data, successful companies are not focusing on queries and data lakes, they are actively integrating analytics into their operations with a data-first application development approach. Real-time adjustments to improve revenues, reduce costs, or mitigate risk rely on applications that minimize latency on a variety of data sources. Jack Norris reviews best practices to show how companies develop, deploy, and dynamically update these applications and how this data-first...
Intelligent Automation is now one of the key business imperatives for CIOs and CISOs impacting all areas of business today. In his session at 21st Cloud Expo, Brian Boeggeman, VP Alliances & Partnerships at Ayehu, will talk about how business value is created and delivered through intelligent automation to today’s enterprises. The open ecosystem platform approach toward Intelligent Automation that Ayehu delivers to the market is core to enabling the creation of the self-driving enterprise.
"We're here to tell the world about our cloud-scale infrastructure that we have at Juniper combined with the world-class security that we put into the cloud," explained Lisa Guess, VP of Systems Engineering at Juniper Networks, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
Historically, some banking activities such as trading have been relying heavily on analytics and cutting edge algorithmic tools. The coming of age of powerful data analytics solutions combined with the development of intelligent algorithms have created new opportunities for financial institutions. In his session at 20th Cloud Expo, Sebastien Meunier, Head of Digital for North America at Chappuis Halder & Co., discussed how these tools can be leveraged to develop a lasting competitive advantage ...
"We're a cybersecurity firm that specializes in engineering security solutions both at the software and hardware level. Security cannot be an after-the-fact afterthought, which is what it's become," stated Richard Blech, Chief Executive Officer at Secure Channels, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
In his session at 20th Cloud Expo, Mike Johnston, an infrastructure engineer at Supergiant.io, discussed how to use Kubernetes to set up a SaaS infrastructure for your business. Mike Johnston is an infrastructure engineer at Supergiant.io with over 12 years of experience designing, deploying, and maintaining server and workstation infrastructure at all scales. He has experience with brick and mortar data centers as well as cloud providers like Digital Ocean, Amazon Web Services, and Rackspace. H...
You know you need the cloud, but you’re hesitant to simply dump everything at Amazon since you know that not all workloads are suitable for cloud. You know that you want the kind of ease of use and scalability that you get with public cloud, but your applications are architected in a way that makes the public cloud a non-starter. You’re looking at private cloud solutions based on hyperconverged infrastructure, but you’re concerned with the limits inherent in those technologies.
SYS-CON Events announced today that Massive Networks will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Massive Networks mission is simple. To help your business operate seamlessly with fast, reliable, and secure internet and network solutions. Improve your customer's experience with outstanding connections to your cloud.
DevOps is under attack because developers don’t want to mess with infrastructure. They will happily own their code into production, but want to use platforms instead of raw automation. That’s changing the landscape that we understand as DevOps with both architecture concepts (CloudNative) and process redefinition (SRE). Rob Hirschfeld’s recent work in Kubernetes operations has led to the conclusion that containers and related platforms have changed the way we should be thinking about DevOps and...
The question before companies today is not whether to become intelligent, it’s a question of how and how fast. The key is to adopt and deploy an intelligent application strategy while simultaneously preparing to scale that intelligence. In her session at 21st Cloud Expo, Sangeeta Chakraborty, Chief Customer Officer at Ayasdi, will provide a tactical framework to become a truly intelligent enterprise, including how to identify the right applications for AI, how to build a Center of Excellence to ...
From 2013, NTT Communications has been providing cPaaS service, SkyWay. Its customer’s expectations for leveraging WebRTC technology are not only typical real-time communication use cases such as Web conference, remote education, but also IoT use cases such as remote camera monitoring, smart-glass, and robotic. Because of this, NTT Communications has numerous IoT business use-cases that its customers are developing on top of PaaS. WebRTC will lead IoT businesses to be more innovative and address...