Process Mining is defined as a process analysis method that aims to identify, observe and modify day-to-day operations by extracting knowledge from available event logs in the data and information systems of an organization. According to a recent study conducted by Gartner, the process mining market will cross the $1 billion mark, growing by approximately 40 to 50% by the end of 2022.
Process Mining is quickly crossing the bridge to the business sector and is currently being employed in a much more functional and consistent fashion than ever before, thus making it almost effortless for business owners to constantly monitor and optimize their daily business processes. Being an advanced and innovative technology, process mining can substantially enhance efficiency, improve productivity levels, increase customer satisfaction levels and ultimately lead to significant savings in the long run by steadily redesigning business processes.
Therefore, enterprises will be able to cut costs, increase customer satisfaction levels, improve employee engagement levels and run the organization much more efficiently every day. Moreover, process mining can help ensure that your organization’s business processes are fast, accurate, data-driven and complete by utilizing intelligent data transformation and powerful algorithms. Process mining can act as an advanced X-ray in finding discrepancies in daily procedures and scaling up efficiency, learning and adaptability across the organization.
Steps of Successful Process Mining:
1) Clearly Define Measurement Criteria
Process mining enables businesses to automate and streamline various business processes by identifying and disseminating best practices across an organization. This reduces waste, more efficiently allocates physical and human resources, and allows for faster responses to internal and external changes such as organizational development, changing market trends and evolving customer expectations.
One of the most important ways to ensure your business’s process mining tools are being utilized correctly and successfully is by clearly defining the measurement criteria. Defining what your organization needs to measure and why enables a reference or target process model that represents how certain business processes should work once they are fully optimized and reformed. It creates a clear and concise visualization of all steps involved along with important quality assurance benchmarks that can be easily analyzed afterward.
Creating a set of questions that allow you to identify specific organizational and technical aspects that need to be tackled can help your business establish a clear foundation for future action. This is a crucial step as it helps determine areas of productive insufficiency and allows the establishment of proper, predetermined standards and judgment criteria.
2) Analyze Data to Evaluate Processes
When utilizing process mining, it is equally important to be able to gain meaningful insights from the data received to ensure viable and quantifiable short-term and long-term results. Process Mining kickstarts certain major changes in a company by allowing an organization to become more process-oriented and to make use of existing corporate data. With recent studies indicating that over 50% of Fortune 500 companies are currently exploring process mining, evaluation of organizational data will lead to significant improvements in business outcomes and long-term ROI (Return on Investment).
When it comes to process mining, obtaining the data results is not enough. Your organization must analyze and evaluate collected data and information to back it up using a strategic and well-thought-out plan of action. This ensures a comprehensive and holistic assessment of business processes and data in a wide variety of domains.
Process mining not only bridges the gap between data mining and business process management but also connects various procedures in business and IT. Evidence-based business process management based on process mining can help to establish a common ground for the future improvement of business processes and the development of powerful and high-functioning information systems.
3) Optimize Business Processes Using Data Results
As process mining tools act as a subset of hyper-automation, businesses must learn how to optimize their business processes by effectively utilizing the process mining results. Correct data analysis and interpretation of obtained results can help ensure that businesses understand the right corrective measures to be implemented and help connect the dots between business processes and organizational information systems.
Research has shown that 83% of business owners plan to increase the usage of process mining and optimization techniques. As a process map is based on data and does not require any human input, it is often the most reliable depiction of organizational business processes possible. If effectively utilized, process mining can help enable enterprises to significantly optimize business processes by eliminating redundancies and streamlining workflows.
Process mining software can assist firms in capturing data from enterprise transaction systems and providing detailed, data-driven insights on how crucial day-to-day business processes are working. Low-code application development solutions can enable your business to develop custom-made, powerful process mining software and business management software that can help your business processes run more efficiently than ever before.
Planet Crust – Leverage Low-Code To Undergo Successful Process Mining
Process mining can be an extremely beneficial process for organizations that face issues with managing day-to-day operations and overseeing business processes. When performed properly, process mining can help businesses detect and address issues in workflows, reduce business process execution times, clearly define required business process automation and much more. Process mining usually requires businesses to collect and analyze large amounts of data and information from organizational event records. However, this process can be extremely impractical if performed manually.
Planet Crust’s low-code platform, Corteza, enables businesses to collect and analyze large amounts of data much faster than ever before as well as develop solutions to address issues in business processes and workflows. Corteza’s’s scalable architecture, flexible data modeling and visual workflow builders can make process mining processes much easier and more efficient than ever before.
Get a trial now so that your business can take advantage of the various benefits of low-code technology for process mining processes.