A cost calculator to get you started with Digital Twins

Fabrik has translated the learnings from creating digital twins into a self-help Digital Twin Cost Savings Calculator. This tool is for businesses operating in core engineering sectors managing critical/large infrastructure who are evaluating Digital Twins for their operations. The calculator provides indicative savings for businesses at multiple levels of operations.

How it works?

The calculator's intuitive interface allows users to input three key parameters:

• Implementation Level - it captures the scale and complexity of the industry/infrastructure.
• Number of assets, installations, facilities, etc.
• Cost to run the asset per day.
• Is the asset/system in the critical path of operations?

What you get?

The calculator give three outputs:

• Current estimated operational costs.
• Estimated savings with digital twins.
• Savings (%).

Limitations

This is version 1, an output of many years of work and learnings with our customers. There are many factors we have not captured in this version, but subsequent updates will reflect them. Here are a few examples:

• Cost breakdowns (cost of spares, man-hours, downtime, etc.)
• Industry specific digital twin recommendations
• Capturing complexity for each implementation level
• Return On Investment time horizon

Our intent with this calculator is to get conversations started with digital twins and help businesses understand their potential benefits in day-to-day operations. This straightforward cost assessment provides a baseline to show how digital twins could improve your operational efficiency. Explore the COST CALCULATOR and share your feedback/insights.

Definitions

1. Implementation Level Selection

• Infrastructure Level
  • Large multi-generational projects with many facilities, processes, systems, and assets.
  • Examples: Smart city operations, Airport networks, and Highways maintenance.
  • Ideal for: Government agencies, Urban planners, and Infrastructure operators.
  • Benefits: System-wide optimization, network-level insights, and macro-level efficiency gains.‍
• Facility Level‍
  • Industrial units or commercial facilities.
  • Examples: Oil and gas plants, steel manufacturing facilities, and power plants.
  • Ideal for: Plant managers, Facility operators, and Industrial engineers.
  • Benefits: Faster communications, Cross-system integration, and Quick turn-around times for jobs.‍
• Process Level‍
  • Targets specific operational workflows or production lines.
  • Examples: Assembly lines, and Chemical processing units.
  • Ideal for: Production managers, and Process engineers.
  • Benefits: Workflow optimization, Bottleneck identification, and improving productivity.‍
• Asset Level‍
  • Concentrates on individual machines or equipment.
  • Examples: Industrial robots, heavy machinery, and specialized equipment.
  • Ideal for: Maintenance managers, and equipment operators.
  • Benefits: Enhanced equipment performance, predictive maintenance, and asset longevity.‍
• Component Level‍
  • Focuses on specific parts or subsystems.
  • Examples: Battery systems, bearing assemblies, and mechanical components.
  • Ideal for: Design engineers, and Maintenance technicians
  • Benefits: Detailed performance analysis, and component optimization.

2. Number of assets

Digital twin benefits often scale as the number of assets or scale of operational complexity increase. For example, at the infrastructure level, users might count major nodes like intersections in a smart city. Facility-level applications could count operational units or production lines. Asset-level applications focus on individual machines, while component-level projects consider specific monitored parts. This scalability ensures flexibility in savings estimation.

Best practices for inputs include starting with a pilot area, focusing on critical assets, grouping similar ones, and scaling these successful "units".

3. Cost of running the asset per day

Your daily operational costs, a crucial number to determine potential savings as you scale. Start by entering your daily cost to operate each asset, including basic expenses like maintenance, energy, and labor.

4. Critical asset

Are these assets critical to your operation? Critical assets - whose failure would significantly impact your business, like a crucial production machine or a vital safety system. This helps the calculator adjust savings estimates based on risk and importance.