Providing an integrated view of an asset's data throughout the product lifecycle
Digital thread, used in conjunction with big data and internet of things, can harness the abundant data of an organization and provide intelligent insights throughout the product lifecycle process. However, implementing it by integrating siloes does not yield desired business results. For its successful implementation, organizations must consider the following:
- Model-based practice with systems engineering: This will help enterprises draw insights from their own data and enable traceability across the product lifecycle process.
- Closed loop feedback and forward connect: These processes ensure end-to-end communication among all stakeholders in the product lifecycle. Feedback is provided to upstream and downstream stakeholders in the value chain.
- Smart connected innovation platform: Such a platform can integrate a firm’s business architecture and maintain data continuity and interoperability across the product lifecycle.
- Analytics: The real benefit of digital thread lies in the business insights it generates from information across the product lifecycle.