Siemens Energy will provide technology solutions to the collaboration project, including COMOS process lifecycle management software and the open cloud IoT solution. In addition, Siemens Energy will act as an international sales channel for solutions developed in the project. The COMOS lifecycle management software makes it possible to speed up the design process and increase and optimize process efficiency throughout the lifecycle in order to improve competitiveness.
The cloud IoT operating system allows data to be transferred between the process model and the actual process. The process model is a virtual copy of the actual process, a digital twin that optimizes, simulates, and utilizes process design data throughout its lifecycle. Data are typically owned by the process owner – the end customer – who also decides on sharing the data with other operators. As a fully open IoT solution, MindSphere is an easy-to-use platform for ecosystems capable of developing digital services, applications, and new business models.
The digital economy is outcome economy where results or value are sold instead of products and services, and this will inevitably change the prevailing business models.