Process Mining and why you cannot afford not to engage

Affärsvärde, Business Intelligence | december 3, 2018 |

Did you know that the only thing that separated Homo Sapiens from the Neanderthals was one tiny gene? One out of thousands of genes in our DNA mutated and gave us the ability to improve the way we create sound. This eventually developed into speech and made us able to communicate. A tiny little change that placed us at the top of the evolutionary tree.

Being able to adopt and transform has over time proven to be essential for survival.

 

Studies now show that over the past decades the average age of a S&P 500 business has dropped from 75 years to about 20 years. If that does not intimidate you, then what about the McKinsey study mentioning that 70% of today’s S&P500 businesses will not exist in 2030.

 

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I guess the question is what we need to do to be within the 30% that survives? Or what we need to avoid ending up like the Neanderthals?

If you aim for survival and growth, history teaches us that it is often not the biggest systems that remain, but the ones that are the most able to adapt. In a business context this simply means the ones with the best ability to remain relevant to their customers.

One way to become good at adapting and improving is to start process mining.

Imagine that you were Neo, the hero played by Keanu Reeves in The Matrix. Visualize what you could do if you could actually see and interpret the digital footprints that soars around everything and everyone. The opportunities and power that would be within your reach. With a little less drama than in the Matrix, this is still a relevant description of Process Mining.

In Process Mining every digital footprint of a process placed by someone in your organization, can be made visible. It would be like the process swim lanes had a kid with to your BI tool. The processes and the transactional information are merged.

At least a bit like Neo, you would suddenly be able to see how every process step is connected, what the variations are, identifying bottlenecks and efficiency leaks.

According to Gartner, Celonis is the leading platform in process mining. The system first identify and interpret data derived by underlined business processes. Then it shows the user what the processes are, then uses algorithms to present the value of changing and improving these processes.

But you would not stop at being Neo. You would also be the mysterious woman called the Oracle, letting you see the future… Celonis recently added the Action Engine to the platform. Based on the information and the insights the platform finds in your process, the Action Engine tells you what you need to do to improve through-put-time, customer satisfaction, efficiency leaks and much more.

How is all this possible?

Well, we could continue writing but knowing how this system works we would rather show you. Join us at our breakfast seminar, at our premises in Stockholm or over the web. Link to the seminar here!


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