2020: The growth of Process Mining
After extensive research, in 2019, PEX Network launched its first ever Process Mining online event and being such a massive success we are pleased to announce that we are back – come join us online for free between March 24 – 26: Process Mining Live 2020.
What is Process Mining?
The concept of Process Mining was introduced over 20 years ago, and today, it is rapidly becoming a way to analyse and measure performance and compliance problems. It is a tool that connects Business Process Management (BPM) and various data-driven approaches like Artificial Intelligence, Machine Learning and Data Mining. Our Keynote speaker for the event,
Professor Wil van der Aalst (the father of Process Mining) quotes:
‘Process mining is so obvious in so many domains that it is surprising that not more people know of it’.
Our aim is to identify where to look and ways to improve.
Understanding the importance of Process Mining
Just before our online event in 2019, PEX Network ran a poll to ask 2 simple questions.
- Are you currently using process mining?
2. Are you going to be using process mining in the next 6-18 months
The results are quite astonishing. We learnt that 62.5% do not use process mining, however, 61% are looking to invest in the next 6-18 months. Once we launched our first online event, there was over 1,500 registrants keen to learn more. Furthermore, over 50% of registrants looking to invest in the solution. This shows that even though the concept has been around for 20 years and that 62.5% of respondents don’t sure process mining, it is suddenly exploding in opportunity.
So of course, we were curious to understand why a concept that has been around for so long, is only gaining popularity more recently. We conducted an interview (available here) with Professor Wil van der Aalst to better understand why he thinks it had taken so long to break into the mainstream.
Wil van der Aalst mentioned that:
“Process mining entails data science, big data and the continuous desire to improve processes. However, you also have to realize that the algorithms in the background have improved over the last 20 years.”
In support of this, another interview with Brenton Harder (Former Head of PEX, BNY Mellon), suggests a main challenge people may face is that you need a good database or data source, otherwise it becomes very difficult and according to Brenton ‘data is a challenge because when you get too far ahead.’
Due to data, it makes sense why people find it hard to focus on process mining but are also keen to learn more for future investments, especially as the algorithm improved in the last 20 years.
Looking ahead - Process Mining in 2020
Through further research, we aimed to understand what the main drivers behind process mining is and how it fits in with evolving technologies. As the diagram below suggests, at 79%, attaining operational efficiency is the main focus for process mining. Improving operational efficiency and processes would be our main guess for why businesses would use process mining. More interestingly, as businesses begin to adopt smart technologies, intelligent automation (38%) is next in line. It has become key to understand how to bridge the gap between process mining and emerging digital transformation tools. In terms of IT, compliance and customer experience, Process Mining is yet to be explored.
Overall, process mining goes beyond improving processes according to ‘human criteria’ but should also explore how to streamline processes for robotics. According to PEX Network editor, Ian Hawkins,
‘process mining is a lens through which to see how an organization operates more clearly than you can with the naked eye, and apply efficiency methodology accordingly to a workforce able to make even small changes meaningfully profitable.’
As the field of Process Mining continues to mature, it is important to understand
- How process mining adds values to RPA
- How can process mining become part of the planning stages?
- How can process mining help businesses remain compliant?
- How to measure process mining in terms of ROI
About Process Mining Live 2020
Process mining is a vital part of understanding what makes a business ‘tick’. Discovering the best processes that can be shared across an organization, or identifying the bottlenecks and inefficiencies that are hurting your bottom line are the first step in continuous improvement.
As process mining plays an essential role in digital transformation please do join our free, 2nd annual online event and learn how you can implement a process mining strategy and the tools you need to use to get the best results.
Few event session highlights:
- Use process mining to remove operational friction
- Increase efficiency and reduce cost by avoiding the replication or resources
- Calculate the return of process mining investment
- Uncover opportunities for process optimization with process mining
- How Intel Corporation corrected flaws with process mining
- Merck adopts Process Mining to Reinforce RPA and Automate 20+ Processes
Our free, online event will give you the tools to dive deep – and come up with the gold
Register here: Process Mining 2020 Live
Looking forward to welcoming you soon!
Multidomain Master Data Management for the Nordics
5 年It will only be a matter of time before the question will be "why would you not" apply process mining to certain processes rather than "why". The data source challenges may seem like a huge problem to many enterprises, but in reality process mining can give powerful actionable insights into processes using data which may not be perfect or complete. Successful use of process mining does require specific skills and knowledge and should not be done without proper guidance and governance. The business case for process mining is so good that it will only be a matter of time, and those who wish to e.g. improve process efficiency will certainly realize this in the same way as RPA has become a standard technology in the past years.?
Head of Digital Strategy - SSON
5 年2020 should be the 'Year of Process Mining'!?