What Is Process Mining, and How Can It Benefit Your Business?

Despite significant changes in the industry, firms that have been dormant for years can revitalize themselves with effective process management. Process mining is a technique that aims to discover and monitor business processes to enhance them. Discover how process mining can benefit your business by reading further.

What is Process Mining?

Process mining involves combining data mining and process analytics to discover, validate, and improve business workflows. This is done by creating event logs that contain a unique identifier for each process (case ID), the activity occurring, and a timestamp. Additional event attributes, such as cost and resource consumption, may also be included but are optional. These attributes can answer many process-related queries, enabling businesses to gain valuable insights and make informed decisions.


Event logs also help us understand the real-time analysis of how computer-mediated work is happening. Real-time analytics include information like who did it, how long it takes, and how it lags behind an average time. 


The end goal of process mining is to drive data-driven insights for the organization. It ensures the identification of the execution path of the process to address compliance problems and monitor performance.

Benefits of Process Mining

With process mining, businesses can create key performance indicators for any process and focus on improving priority steps. The AI algorithms in process mining software detect the root cause of variations between actual and optimal process times. This enables businesses to identify areas for improvement and take action to optimize their processes.


Here is a list of the top 5 process mining benefits for your business:

Boosts Business Intelligence: 

Data-backed insights help stakeholders make business operations decisions faster and more efficiently.

Targets Bottlenecks of your Business:

With effective process mining, you can address the root cause of unidentified bottlenecks in your business and regain efficiencies in common processes.

Surface Process Deviation:

Process mining surfaces the deviations that cause workflows to go off track and offers you opportunities to improve and boost business revenue.

Improves Customer Experience:

It helps run business workflows in the most optimal manner and enhances customer relationships.

Reduces Business Costs:

Data-Driven insights derive how distinct cases must be handled and how operational decisions must be made. As a result, the overall cost of a business can be reduced. 

What to Consider

It is important to consider where to apply process mining in any business. The benefits of process mining will get you the best value when you apply them to processes that are digitized or are supported by an IT team. 

Conclusion 

In today's business world, there is a greater interest in exploring areas of improvement rather than simply maintaining the status quo. Process mining allows businesses to extract valuable insights from their transaction systems and gain a detailed understanding of their performance. 


To learn more about installing process mining software in your organization, connect with NuMantra today.

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