Better understanding is provided by the digital twin about the performance of your product. With the help of advanced simulations, Manufacturing, Development and Design can be enhanced. For securing the future profitability and also for avoiding risks, your business must be transformed. Daily increment is observed in the amount of data that businesses have to act. Reports, statistics, feedback, product performance reviews, trends, customer/user feedback. The significant success factor is interpreting and sharing of data. For the digital transformation of product management process, various different aspects are reviewed in this paper. In this paper, the aspects are also observed as well as studied.