It’s expected the global process analytics market will grow exponentially by 20231 with Business Process and Case Management (BPCM) platforms playing a vital role in your organization’s process mining journey.
The ability to discover, monitor and improve real processes by easily extracting knowledge from available event logs in your organization’s systems is critical. It will help you to improve efficiency and understanding by applying contemporary data mining techniques to your process.
Because of their use in orchestrating workflow, BPCM platforms like SS&C AWD, are integral to the success of your process mining efforts.
A 3-Stage Journey
Most research outlines three stages of process mining, based on whether a previous model exists in the organization and how it’s used in the process mining experience.
- Discovery: Do you have an existing model in your organization you’d like to optimize? Your company may use ERP systems, BPCM, or other event management tools to document its processes, which can provide a fact-based starting point for your process model.
- Conformance: Next, you’ll want to identify the differences and inefficiencies between process models by comparing your process events to an ideal process design.
- Enhancement: Lastly, you’ll need to adapt and enhance your model according to the data mined, which improves processing and cycle times, reduces costs, and enriches your customer experience.
Audit trails, transaction logs, or process event logs all provide data into models describing processes, products and organizations. During this process, you can apply specialized algorithms to identify trends, patterns and details contained in the event logs recorded by your information system.
BPCM process events, for example, can also be used to compare event logs with previous models to understand whether the observation works in a new model or if it leads to a different and better process solution.
A good digital business process and case management platform, or workflow system, is essential here since it will help provide the key data you’ll need to create new and improved processes and manage them going forward.
AWD, SS&C’s low-code BPCM platform, can help you along your process mining journey.
1 "Process Analytics Market by Process Mining Type (Process Discovery, Process Conformance & Process Enhancement) - Global Forecast to 2023" Research and Markets, June 2018
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