How Digital Twins Cut Asset Management Costs: 30% Lower Opex, 80% Lower Inspection Costs

Digital twins cut asset management costs by replacing manual site inspections with drone-captured 3D models that teams review remotely. In one telco tower network, Asseti reduced operating costs by 30% and inspection costs by 80%. One GHD Advisory client reported critical issues 12 times faster while cutting cost by 80%.

What is a digital twin?

Digital twins use multiple layers of information to create a digital model. This includes geospatially referenced photogrammetry, LiDAR, hyperspectral, and thermal imagery – plus other live and periodic sensor data. The various data streams are cross-referenced by time and location stamps and a representative model is created. When paired with an appropriate presentation platform, digital twins can provide considerable reductions in operating expenses.

How digital twins reduce costs

A key use of digital twin technology is better visualization and management of assets, so that uptime can be maximized and maintenance budgets trimmed. It is in this area that Asseti's agile digital twins are deployed, to assist asset network management at scale. For example, a national telco operator with 1,800 towers reduced its operating budget by 30% after deploying Asseti. A significant proportion of the towers are in remote, wet and heavily vegetated environments prone to cyclones and heavy weather incidents – and network failure could leave nearly a quarter of a million citizens without telephone communication capability. Asseti captured and processed the data automatically, producing 3D models of each tower as the basis of a digital twin network. The digital twin then integrated sensors monitoring operational network conditions, third-party data feeds including weather and weather incidents, as well as routine model updates. As a result, 80% of emergency repair demands have been eliminated. Now the organization is able to call up asset network status easily at any time and delivers regular reports to extra-organizational stakeholders.

It's well known that manual asset inspection methods are expensive, time-consuming, and labor-intensive. In combination, these factors create operational inefficiencies. Traditional methods are also rife with occupational safety concerns. Think of an inspection team having to trek kilometers into the wilderness with expensive and sometimes bulky gear (that may not even be required) to assess a telecommunications tower. Or personnel risking the danger of hazardous climbing to check towers or wind turbines. These are the sorts of risky activities that can expose an organization to workplace injury. Despite the costs in time and resources associated with risky and time-consuming manual inspections, the resulting data is often inadequate or incomplete.

As an alternative, Asseti can build an accurate and efficient 'agile digital twin' of your asset network, very economically and quickly, without adding administrative burden to your team. Asseti digital twins reveal risk and opportunity across the asset network, highlight recommended remedial actions, and enable better and faster decision making in a way that lifts asset network performance. Asseti is significantly faster to deploy than many other digital twin solutions, and requires far fewer (if any) additional human resources.

Results from Asseti customers

• In the telco example above, Asseti led to a 30% reduction in operational costs, along with an 80% reduction in inspection costs
• With the support of Asseti, one GHD Advisory client expedited critical issue reporting by 12 times while simultaneously reducing costs by 80%
• Customer satisfaction and loyalty gains: "Asseti has amplified value to clients, delivering the intelligence and ability to be agile at scale – we've expanded our client services and our clients are more satisfied"
• Inspection time can be reduced by 50% or more
• Cost and downtime associated with travel is eliminated
• Human error related to data collection, and on-site occupational health and safety risks, are reduced

Long-term benefits

• Because Asseti digital twins consume geospatial data for the same asset in different time periods, organizations can benefit by layering inspection models over each other, revealing trends over time
• Degradation profile modeling: Asseti benchmarks assets and thereby builds a robust and localized degradation and life cycle model which leads to more cost savings
• Efficient use of AI-enhanced data assists more informed decision-making throughout the asset management process

Further benefits

• Digital twins can be used to benchmark and assess asset valuations; having a comprehensive record of each asset's condition and associated life cycle modeling simplifies asset valuation and benchmarking and it also helps with determining capital expenditure requirements
• The virtual twin can be used as a reporting tool to provide insight to negotiate additional investment or more favorable terms from financiers or keep government records
• They allow inspection obligations to be met without causing the disruptions and shutdowns often associated with traditional, manual, inspection methods – particularly in non-property asset networks

Digital twin cost FAQs

How do digital twins reduce maintenance costs?

They let teams spot and prioritise defects remotely, so fewer site visits are needed and problems are fixed before they become expensive.

What data is used to build a digital twin?

Geospatially referenced photogrammetry, LiDAR, thermal and hyperspectral imagery, plus other sensor data.

Arrange an Asseti demonstration to see what your digital twin could look like, and how Asseti delivers the central digital twin benefits at a fraction of the cost of alternative digital twin technologies.