With rapid changes in our current business landscape, modern businesses are constantly looking for new ways to optimize and improve various business processes. One of the most effective and efficient ways to improve existing business processes is through process mining.
Process mining refers to a subsect of business process management that involves capturing, analyzing and leveraging data from day-to-day business activities to develop detailed event logs. These event logs are then further analyzed to obtain valuable insights into the current performance of various business processes. Process mining can help businesses identify inefficiencies in day-to-day business processes and develop comprehensive and holistic strategies to address them.
A recent study conducted by IBM has found that process mining can increase process automation rates by 75% and process conformance rates by 67%. Therefore, your business must understand what process mining is and how it can transform your current business process management strategies.