As a Cube insider, you'll get access to interesting new trends, what we think about them and how you can benefit. Autonomous vehicles are trying to learn how to drive by instruction while they could be learning by data with Process Mining.
New Trend: Process Mining technology is used to improve automation
Automation is growing as companies are looking to lower costs and increase productivity. Often automation is implemented without fully understanding how to effectively automate the process making it difficult to scale.
For example, autonomous vehicles are the most data hungry machines and have been ‘learning’ to drive in our normal world without first gathering driving data. They have numerous sensors and machine learning to develop driving skills. The data gathered could improve the performance of autonomous vehicles if Process Mining is applied.
Process Mining tools uncover the inconsistencies and overlooked steps in a progression of events using event data. Gartner estimated that the market for dedicated process mining tools grew from $110 million in 2018 to $320 million in 2019.
Process Mining uses real data, not the simplified process a person may describe or think
Process Mining can help identify and remediate bad processes before automation
Unlike business process modeling used in the past, Process Mining is the modern version of process re-engineering that develops insights into your business process prior to implementing automation.
New Insight: Before you automate, consider Process Mining
Just like autonomous vehicles that are working to gather data and learn by doing, most businesses have established processes and have a good understanding of what should be done. When businesses apply automation to increase productivity, it can do the opposite, create extra work.
Process Mining allows for an actual look into how the process would work if it were automated. Companies are often surprised to learn about inconsistencies and potential automation performance issues.
Process Mining tools can rapidly analyze thousands of transactions to reveal the underlying process flows, says Johnathan Silver of McKinsey & Co
Customer journeys can be evaluated using Process Mining tools, to build a data-driven evaluation of new automation opportunities
New Action: Launching a Process Mining project
Process mining relies on data to make accurate predictions and analytics. Here are the high level steps needed to launch a Process Mining project.
Define your scope, with objectives and goals for automation
Gather the data with a direct connection from the Process Mining Tools
After sufficient data is collected, the tools analyze and highlight the inconsistencies in your processes, before automating
Reestablish core processes and start making data-driven automation decisions
N3 Innovation can help you Capture the Opportunity. To learn more about Process Mining, contact us today!
Now is the time to Invent the Future!
Want to get the Cube sent directly to your inbox? Sign up HERE
N³ Innovation does not endorse the organizations or products mentioned in this newsletter. If you are interested to learn more, contact us today for a full landscape and targeted solutions.
Comments