What Process Mining is, and How does it help in the businesses…?

Process Mining is a process of analyzing and monitoring processes. In traditional business process management, it is done through process workshops and discussions, leading to a proper picture of the process. However, it uses the existing data from the company's information systems and reflects the default process. The purpose of the process mining is to capture information and take action. Process mining is a key skill of the tools needed to transform a business through hyper automation. It helps companies evaluate and improve their operating procedures, increasing the organization's ROI. Mining is a data-driven approach from the field of process management and data science. It is designed to help organizations identify, monitor, and improve business processes. It uses event logs, which are a list of tasks with first and last time stamps from IT systems. Event logs can include functions such as when to receive an order, product delivery, customer communication, making payments, and more. This data-driven approach provides insight into what people, programs, and organizations are actually doing, in contrast to what they think they are doing. The information helps to identify issues and problems with compliance and improvements. Artificial intelligence (AI) is increasingly being used to process mines to bring out greater understanding.

It has been used successfully to analyze the current state of business process performance, to identify areas for improvement, and to evaluate the results of process progress. This makes it an effective partner of tools such as robotic process automation (RPA), as it can first identify the best places to use "bots" and then provide ways to calculate the beneficial impact of RPA use. It shows an attractive look and data view of process performance. This will attract the interest of senior officials, who can easily see where there are problems and opportunities. It will strengthen the organization’s commitment to data-driven decision-making. Some vendors have already identified important steps to implement the process mining in order to be more effective in implementing the RPA. We expect more solutions in the future including integration of mining process, RPA, and machine learning.

How does mining work?

Since people and software robots work with the company's IT systems, their jobs are captured by those programs. The mining process converts this data into an event record - and then creates an end-to-end process recognition, as well as insightful analysis. So you will have facts that you need to understand, develop, and monitor how things are done & wherever they are done.

How the mining process goes into BPM

The process mining is a Business Process Management (BPM) recommendation. An easy way to think about it is that the mining process provides insight, and BPM provides the ability to create that understanding. When done together they take it from understanding to action. This is why both mining and BPM processes are considered critical skills for businesses to experience hyperautomation.

What are the normal business processes?

Typical business processes include Purchase-to-Pay (P2P), Order-to-Cash (O2C) or Customer Service processes, for example. And while almost every company has some form of these processes as the backbone of their business, there are many others that support the day-to-day running of the company, including:

• Accounts Payable Processes

• Accounts Processes Accounts

• Purchasing Procedures

• Order Management Procedures

• Establishment Management Procedures

These are just a sample, of course. In addition, different companies define certain processes differently depending on the needs of their business, the systems they use and other variables.

Consider the benefits of Process mining

• The research examines everywhere in business - at the highest level and at the lowest human effort
• Do not get into problems, deviations and ineffective processes that need to be reconsidered or mechanized
• Continuously monitor processes and measure progress
• Make it easy to keep up, with full audit trails
• Apply in any field: financial services, telecommunications, manufacturing, health care or consumer goods and more
• It provides purposeful, factual-based, real-based data, to help you research, analyze, and improve your existing business processes.
• It's faster, cheaper and more accurate than the long and humble process workshops that replace it.
• There is no need to tear down and replace what is needed
• The process mining works beyond your existing systems, so there are no cracks and other impurities involved, either

Top 10 Process mining tools in the market?

 (According to the “Gartner peer insight” report)

1. Celonis Process Mining - by Celonis
2. MyInvenio - by IBM (myinvenio)
3. UiPath Process Mining - by Uipath (ProcessGold)
4.  Signavio Process Intelligence - by Signavio
5. ARIS Process Mining 10 - by software AG
6. Kofax Insight - by Kofax
7. Fluxicon Disco - by Fluxicon
8. Minit - by minit
9. QPR ProcessAnalyzer - by QPR Software
10. EverFlow - By Icaro tech