Following our participation in the TM Forum Digital Twins Catalyst project, we are proud to have been awarded our third consecutive award for innovation in Digital Transformation. The Outstanding Catalyst Innovation Award was awarded to us at TM Forum Digital Transformation World last month where we presented the digital twin technology for the first time.
The flagship event for everything digital transformation was attended by over 2500 people this year and was a key opportunity for us to showcase our new innovations in using an Analytical Data Model to develop Digital Twins technology. With our digital transformation experience being widely known in Revenue Management, Digital Integration and Advanced Automation & Analytics we were delighted to have this platform to share the new technology.
This all came as a well-earned surprise to our new Chief Technology Officer Martin Laesch. “We are honoured to be recognised for outstanding innovation for the third time by TM Forum. Our collaboration with the TM Forum Digital Twin Catalyst project shows that we are a vendor that is both engaged with the industry and passionate about contributing to it” said Laesch. “We are grateful for the opportunity to be involved with the TM Forum Catalyst project. It is a very rewarding experience to collaborate with the industry and bring the power of Optimus to a collaborative level for it to reach new heights of potential as we continue to grow.”
Enterprises face ever-increasing challenges of leveraging 5G networks and providing customers with new types of services. By 2025, digital service providers should already be leveraging on 5G networks to offer new types of services to various customer segments. To do this, enterprises face the challenge of scaling a platform to automate the lifecycle management of network slices and incorporate predictive demand and maintenance.
The Digital Twins technology serves as a virtual representation of a real-world entity or system which acts as a mirror to provide a means to simulate, predict, forecast behaviour in the virtual world. In the catalyst we looked at applying Digital Twins to various use cases such as a network, people, organization and processes to determine their effectiveness in being applied to the telecoms industry to address the above 2025 challenges.
For example, the digital twin of a customer could be represented in a heat map with icons thereby helping to visualize aspects of their digital lifestyle, such as whether they spend a lot of time gaming, have high mobile usage and are physically inactive. This twin can then be used by the enterprise to tailor offers to that individual. For example, the digital twin may show that the customer has a low step count, which could trigger an incentive to the individual to be more active.
The digital twin can also speed up product development cycles, save time and money and create new business models based on intelligent outcomes allowing enterprises to personalize the customer experience and meet their precise demands. In return, this enables enterprises to grow and improve their customer base through targeted campaigns and provide tailored services and promotions. In return, this generates customer loyalty and retention, customer spending through personalization with timely bespoke offers.
Our continuous work in innovating digital transformation solutions has allowed CSPs to advance their services whilst under increasing pressure to leverage 5G networks. By 2025 service providers should already be leveraging 5G networks to offer new types of services to customer segments. The new Digital Twins technology will help to make this possible. CSPs must evolve and adapt their digital business processes to leverage 5G networks or otherwise face stagnation.