New business models need the digital twin
New service-oriented business models not only encourage a more sustainable economy but also represent a financial win-win situation for both providers and consumers. Manufacturers who offer their products as a service retain their customers over the long term and gain easier access to operational data that enables them to optimize products while they are in operation and make targeted improvements to the next generation of products. Customers reduce their investment costs or transform them into running costs. They get what the product is supposed to do in the form of a service at a clearly calculable conditions without having to worry about maintenance or replacement.
