Every business, big or small, has some element of digital technology as part of its operation. It’s become an undeniable norm and often a great benefit for businesses who need to be more agile in times where economics can go from thriving to challenging just as quickly as smartphone models change.
This is where digital business becomes part of the conversation in terms of how businesses grow in a world where consumers and operations demand smart solutions. Digital business is no longer the way of the future. It’s now. Understanding the nuances of this evolution of business models paves the way for greater adoption and innovation.
The definition of digital business
First, it’s important to distinguish between optimisation and transformation. Optimisation is taking the systems already in place and using technology to enhance their performance.As a simple example, going from cash payments and using a receipt book to digital payments on a portable wi-fi-enabled point-of-sale machine that automatically inputs to a digital ledger. Optimisation is ensuring that what currently works now is performing at the optimal level with a little help from technology.
Transformation is doing new things in a totally new way. This is where new technology disrupts industries or operations to introduce more effective solutions and likely changes business models entirely.
Now, a digital business can be defined as using technology to create value in new business models and customer experiences that also bring about connections and opportunities that wouldn’t exist in a traditional business model. Digital business breaks down barriers that currently exist between industries and the solutions within operations, driving revenue and efficiency.
Digital business is the result of transformation and innovation.
How do we get there
For a digital business to become a reality, tools and solutions are required that add that all-important value. Empowering digital business is about working together, dropping the barriers between sectors, and seeing where technology can make a difference to drive forward momentum.
As digital transformation isn’t limited to specific sectors and does not depend on the size of the operation, it’s in the best interest of all businesses to look at the possibilities of technology for their long-term growth prospects.
Twinbru’s fabric digital twins are a prime example of a tool that can empower digital business. The digital replicas of market-ready physical fabrics are already a valuable asset on our partner platforms where they enhance the 3D digital design with high-quality, lifelike textures that showcase the true character of the fabric.
Another process where fabric digital twins shine is rapid prototyping. Digital prototyping is a process that empowers digital business because the technology used to create the prototype and calculate the materials boosts the efficiency of the operation and could change the business model while increasing value.
Digital business for digital worlds
Embracing a digital reality is part of empowering digital business. With augmented reality, virtual reality and the metaverse becoming more mainstream, we must prepare for business and socialisation to take place in digital worlds. Already, many of us conduct meetings via video call or work on the same documents with colleagues who are based around the world. We are digitally connected and soon we’ll have avatars and virtual environments that complement our physical existence.
Digital twins will underpin the success of virtual environments by giving us the stuff we are familiar with in digital format. In one of our previous articles on NFT architecture, we highlighted that property in the metaverse is already selling quickly and at high prices. Architects are delivering designs that have a dual existence both in the physical world and in the metaverse. That means fabrics need to translate into virtual environments too and, again, Twinbru provides the solution.
A key element of empowering digital business is having the right partners. For Twinbru to complete high-quality renders optimally, and gather and organise tons of data, we needed partners who understood our intention to set the standard for digital fabric and could make it possible. AWS has published a case study of its solution for Twinbru and how it boosted our output. Another great example of partnership in action was our collaboration with X-rite to create a shader that allows us to create a digital twin of velvet - a beautiful yet challenging fabric.
Twinbru aims to be an example of innovation and prove that a traditional sector can adapt to the digital age. Not only are we an example of digital business, our fabric digital twins are empowering other businesses to transform their business models and find value in technology. With our partner platforms, we are sharing our technology so that designers, architects and other digital designers can offer more to their clientele and find success.