The “digital twin” is now a recognized core component of the Industry 4.0 journey, helping organizations to understand their complex processes, resources and data to provide insight, and help optimize their operations. Despite this, there are still multiple definitions and understandings of what a digital twin is; all of which has led to a “mysticism” around the concept. Following the “hype curve” model, it can be seen that digital twins have moved past their initial hype phase with only minimal implementation in industry, this is often due to the perceived high cost of initial development and sensor outfit. However, a second hype peak is predicted through the development of “lean digital twins.” Lean digital twins represent conceptual or physical systems in much lower detail (and hence at much lower cost to build and manage the models), focusing in on the key parameters and operators that most affect the desired optimal outcomes of the physical system. These lean digital twins are requirements managed with the system to ensure added value and tapping into existing architectures such as onboard platform management systems to minimize costs. This article was developed in partnership between BMT and Siemens to demystify the different definitions and components of a lean digital twin and discuss the process of implementing a lean digital twin solution that is tied to the core benefits in question and outlining the tools available to make implementation a reality.