An important way to achieve this holistic view is through the use of a digital twin. A digital twin is a virtual representation of a physical operation and helps organizations identify and resolve operational challenges quickly and effectively; identifying root causes for improvement, generating ideas to resolve the causes and testing the impact of these ideas before implementing changes.
However, creating a digital twin that provides a 360-degree perspective of operations is not simple task. It requires a deep understanding of the various functions that make up an organization's operations, as well as the interplay between these functions.
According to a recent survey, 50% of companies report that their business model has changed or is changing. 40% of executives seek cost as a benefit, 35% seek client experience, and 38% seek better control. Yet, alarmingly, 25% of companies undergoing transformation don't have an overall strategy!
3-Cubed is a unique platform that provides organizations with a 360-degree perspective as its algorithms compute the impact of each of the PROFIT functional areas (Process, Risk Management, Operations Capacity, Finance, IT and Talent) on cost, control, and client experience metrics.
But 3-Cubed doesn't stop there. Its algorithms are also able to identify the root causes of operational issues and generate functional and cross-functional ideas to resolve those issues. And the same algorithms that compute the metrics also compute the impact analysis of adopting some or all of the ideas generated, providing you with a clear picture of the benefits and drawbacks of each solution.
The power of a digital twin cannot be overstated. By providing a 360-degree perspective of your operations, 3-Cubed helps you make informed decisions and drive optimized operations. Whether you're looking to improve your compliance, optimize costs, or enhance the customer experience, a digital twin is a critical tool in your journey towards success.