Process Mining is an emerging discipline providing a comprehensive set of tools to provide fact-based insights to support process improvements. This discipline and most of the underlying algorithms have been developed by Dr. Wil van der Aalst at RWTH Aachen University in Germany.
Challenges with traditional Business Process Management
The traditional approach to document and analyze business processes is to conduct stakeholders interviews. This approach, often performed by outside consultants, has many limitations:
- Subjective – the feedback comes mostly from employees with a limited perspective and potential biases
- Incomplete – Many exceptions or events with lower frequencies can be omitted or overlooked
- Costly – Many hours are required to conduct these interviews and analyze the results
How Process Mining works
In the modern world where nearly everything is recorded, process mining leverage the transaction logs stored in ERP, CRM, BPM and Call Center systems to provide a detailed and accurate visual process map, which can then be used by Business Analysts to analyze business processes and efficiently find improvement opportunities. Business decisions around process improvements can finally be made based on facts. Process mining software can analyze millions of events in a matter of seconds, which was not possible with traditional approaches.
A promising future
According to ResearchAndMarkets, The process analytics market size is expected to grow from CAD 178.4 Million in 2017 to CAD 2,018.4 Million by 2023, at a Compounded Annual Growth Rate (CAGR) of 50.3% during the forecast period. Although Process Mining developed initially in Europe in the mid-2010s, North America is expected to see the highest growth in the next five years.
A typical engagement follows these three steps:
Akuting has partnered with Minit as its preferred platform to conduct its engagements.