Integrated knowledge visualization and the enterprise digital twin system for supporting strategic management decision. Issue 4 (14th September 2021)

• Record Type: Journal Article
• Authors: Yan, Min-Ren; Hong, Lin-Ya; Warren, Kim
• Is Part Of: Management decision. Volume 60:Issue 4(2022)
• Page Start: 1095
• Page End: 1115
• Publication Date: 2021-09-14
• Subjects: Knowledge visualization -- Digital twin -- Strategy -- Decision support -- System dynamics (SD) -- Digital transformation -- Performance management -- Innovation -- Data analytics -- Dynamic capability; Management -- Periodicals; 658.403
• DOI: 10.1108/MD-02-2021-0182
• Languages: English
• ISSNs: 0025-1747

Abstract

Abstract : Purpose: This paper proposes an integrated knowledge visualization and digital twin system for supporting strategic management decisions. The concepts and applications of strategic architecture have been illustrated with a concrete real-world case study and decision rules of using the strategic digital twin management decision system (SDMDS) as a more visualized, adaptive and effective model for decision-making. Design/methodology/approach: This paper integrates the concepts of mental and computer models and examines a real case's business operations by applying system dynamics modelling and digital technologies. The enterprise digital twin system with displaying real-world data and simulations for future scenarios demonstrates an improved process of strategic decision-making in the digital age. Findings: The findings reveal that data analytics and the visualized enterprise digital twin system offer better practices for strategic management decisions in the dynamic and constantly changing business world by providing a constant and frequent adjustment on every decision that affects how the business performs over both operational and strategic timescales. Originality/value: In the digital age and dynamic business environment, the proposed strategic architecture and managerial digital twin system converts the existing conceptual models into an advanced operational model. It can facilitate the development of knowledge visualization and become a more adaptive and effective model for supporting real-time management decision-making by dealing with the complicated dependence of constant flow of data input, output and the feedback loop across business units and boundaries.