Enterprises are in need to build resilient, agile business models due to evolving customer experience, strengthening competition, and changing market dynamics. Added to that, Covid-19 has further imposed business continuity risks that exist in legacy business models. Apparently, enterprises are looking to accelerate the shift to intelligent, digital, and automated processes.
While enterprises face several challenges in their automation and digital transformation journeys, identifying a healthy route to process optimization and automation remains key to scalability and success.
Challenges of creating a healthy automation pipeline,
- Fact-based approach to discover processes at scale, both at the broader organization-level and task or end-user level
- Ability to identify process optimization and automation capabilities
- Getting a comprehensive view of the ROI
- Ability to monitor the impact and ROI of implemented initiatives
What is Process Mining and how can it help?
Process mining combines data mining and process analytics techniques to discover, validate, and improve workflows. It enables organizations to mine log data from their information systems to understand the performance of their processes, and know the bottlenecks and areas of improvement. Process mining follows a data-driven approach that helps build a healthy pipeline, thereby allowing managers to make wise decisions around resource allocation for existing processes.
Applications of Process Mining
Process mining plays a key role in an organization’s digital transformation journey, accelerating time-to-value, ROI, and scale. It improves process flow across a wide variety of industries helping them enhance operational efficiencies by highlighting the key performance indicators through mapping.
Some use cases of Process Mining include the following,
Education: Identifies effective course curriculums by monitoring and evaluating student performance and behavior such as how much time a student spends on class materials.
Finance: Financial institutions have been using process mining software to improve inter-organizational processes, audit accounts, increase income, and broaden their customer base.
IT: Process mining can help identify a clearly documented process. It can help IT administrators monitor the process, allowing them to verify whether the system is running as expected or not.
Healthcare: Process mining can be used in the healthcare domain to uncover various insights for improving healthcare processes. It identifies the most complex and time-sensitive processes to improve patient experience, increase efficiency, and avoid compliance risks.
E-commerce: By applying process mining techniques on your weblogs, you can gain insight into buyer behaviors’ and get accurate recommendations to increase sales and improve customer experience.
Manufacturing: Process mining stabilizes your production process by preventing production lags, enabling reliable planning, and ensuring high quality. you can gain real-time insights throughout the entire production and reallocate resources, such as storage space, machines, or workers, accordingly.
Sales: Process mining helps you to visualize process dynamics and shows whether the current sales activities will be able to meet the sales target or not. Through KPI-based analysis, It identifies deviations and other inefficiencies in your sales cycles and makes process enhancements accordingly.
Understanding the Process Mining Journey
Adoption of process mining can be driven by the need to analyze processes as a part of the organization’s strategy to transform operations. Enterprises can break down their process mining journeys into five distinct steps to achieve success and gain value.
Achieve Operational Resilience through Process Mining
Given the increased awareness and maturity of process mining solutions, the process mining market continues to grow rapidly. Enterprises across the globe have started realizing the role of process mining in accelerating automation and digital transformation journeys. It ensures that companies react to changes quickly by providing them necessary process-related information in a timely manner, thus ensuring transparency in their process flows.