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Which of the following trends is a driver for change in agile operations execution?
Which of the following strategies deals with making a shift from traditional ways of operating to ways that make extensive use of data, technology, and business models in innovative ways?
For customized offerings with infrequent demand, which operating model should be chosen?
A company has completed the forecasting portion of its digital transformation. It is now forecasting a probabilistic range of possible outcomes for each item versus a one-number forecast for each
item. How should it assess this outcome?
According to the CTSC Exam Content Manual1, probabilistic forecasting is one of the key capabilities of the sense digital discipline, which aims to capture and analyze data from various sources to generate insights and foresights for decision making. Probabilistic forecasting provides a range of possible outcomes for each item, along with the associated probabilities, rather than a single point estimate. This allows the company to better understand the uncertainty and variability of the demand and supply, and to plan accordingly. Probabilistic forecasting is a positive and expected result of the digital transformation, as it enhances the accuracy and reliability of the forecasts, and enables more effective risk management and scenario analysis.
1: https://www.ascm.org/ctsc-ecm/
Creating a replica of a real process, product, or service in order to create a virtual representation is called a digital:
a digital twin is a virtual representation of a real-world object or system. These virtual models are used to digitally represent performance, identify inefficiencies, and design solutions to improve their physical counterparts. A digital twin is a digital model designed to accurately reflect a physical object. The object being studied---for example, a wind turbine---is outfitted with various sensors related to vital areas of functionality. These sensors produce data about different aspects of the physical object's performance, such as energy output, temperature, weather conditions and more. This data is then relayed to a processing system and applied to the digital copy. Once informed with such data, the virtual model can be used to run simulations, study performance issues and generate possible improvements, all with the goal of generating valuable insights---which can then be applied back to the original physical object. A digital twin is a digital representation of a real-world entity or system. The implementation of a digital twin is an encapsulated software object or model that mirrors a unique physical object, process, organization, person or other abstraction.
