I can answer from the manufacturing side only. In manufacturing, "Digital Twin" refers to having a fully-digital version of your manufacturing line modeled and

I can answer from the manufacturing side only. In manufacturing, "Digital Twin" refers to having a fully-digital version of your manufacturing line modeled and running on a computer. In most cases this takes the form of a kind of dashboard where you can see on a screen (or screens) exactly what is going on with your physical line at any time. So you have the physical, real-world line on your factory floor and you have its "digital twin" on the computer. This is very useful for real-time monitoring and performance improvement. For example, if an assembly station is starved of parts it needs, rather than having to wait for a line supervisor to go to the station, see what's wrong, then go notify the logistics people, your digital twin would immediately show a red indicator with a reason and action can be taken immediately (or prevented if you've got things setup properly for predictive).