Precision aquaculture deploys multi-mode sensors on a fish farm to collect fish and environmental data and form a big collection of datasets to pre-train data-driven prediction models to fully understand the aquaculture environment and fish farm conditions. These prediction models empower fish farmers for intelligent decisions, thereby providing objective information to monitor and control factors of automatic aquaculture machines and maximize farm production. This paper analyzes the requirements of a digital transformation infrastructure consisting of five-layered digital twins using extensive literature reviews. Thus, the results help realize our goal of providing efficient management and remote monitoring of aquaculture farms. The system embeds cloud-based digital twins using machine learning and computer vision, together with sensors and artificial intelligence-based Internet of Things (AIoT) technologies, to monitor fish feeding behavior, disease, and growth. However, few discussions in the literature concerning the functionality of a cost-effective digital twin architecture for aquaculture transformation are available. Therefore, this study uses the modified analytical hierarchical analysis to define the user requirements and the strategies for deploying digital twins to achieve the goal of intelligent fish farm management. Based on the requirement analysis, the constructed prototype of the cloud-based digital twin system effectively improves the efficiency of traditional fish farm management.