Process
analytics is the combination of tools and methods implemented to process
instances, data, and models to support decision-making in organizations. In
modern days process data is stored across systems, applications, and services
in the enterprises. Process analytics analyzes the completed processes and
their model’s behavior. Process analytics evaluates current undergoing process
instances. Process analytics predicts the behavior of process instances in the
future. Process analytics discovers meaningful patterns in process execution
data. Process analytics provide visibility into the complex business process.
Process analytics helps in correlating data across various data sources and also
rapidly onboard new data sources as the underlying process changes. Process
analytics contributes in analyzing the data in real time.
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| Process analytics |
Process
analytics are implemented in the end to end process of the organizations to
identify the gaps and enhance the process for better results. Process analytics
are deployed either by on-premise or through the cloud. Process analytics used
through cloud reduces the hardware purchase cost and maintenance cost. Process
analytics, when deployed by cloud, helps the small and medium enterprises to
concentrate on R & D activities.
The process
analytics market includes various vendors providing process analytics solutions
and services to commercial clients across the globe. The major vendors, such as
Celonis (Germany), Fluxicon (Netherlands), Icaro Tech (Brazil), Kofax (US),
Lana Labs (Germany), Minit (Slovakia), Logpickr (France), TimelinePI (US),
Scheer (Germany), Monkey Mining (Netherlands), Worksoft (US), Puzzle Data
(South Korea), QPR Software (Finland), Cognitive Technology (Malta), Signavio
(Germany), SNP (US), Your Data (France), Process Mining Group (Open-Source),
Software AG (Germany), Fujitsu (Japan), CA Technologies (US), Process Analytics
Factory (Germany), StereoLOGIC (Ontario), Intellera (Canada), and ProcessGold
(Netherlands), have adopted partnerships, agreements, and collaborations as the
key strategies to expand their market reach.
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