Today’s data systems generate an unparalleled amount of information from physical and digital sources. When properly consumed, analyzed, and merged, the wealth of information can be utilized to identify patterns and gain insights that can guide you to better customer experiences and more efficient operational workflows.
In the business world, process intelligence is becoming an increasingly important tool for success. What is process intelligence, and why should your business embrace it? In this article, we will discuss the benefits of process intelligence and how to implement it in your own organization.
What is Process Intelligence?
Process intelligence is a method of analyzing data to identify trends and patterns. The goal is to improve business performance by eliminating inefficiencies, reducing costs, increasing productivity, improving customer service levels or all four at once! Process intelligence can be used for almost anything from marketing campaigns to manufacturing processes – any time you want better results without spending more money.
Process intelligence isn’t just about identifying problems; it’s also about finding solutions. For example: if your sales team is struggling with lead generation then using process analytics might reveal that the outreach emails aren’t getting any responses because customers don’t interact with them. By analyzing data in this way, you can make critical changes that will improve your results.
With a process intelligence solution, you’ll be able to discover, manage, and understand the execution of business processes much more effectively than you otherwise would have. As a result, it can enable you to reach and maintain a higher level of productivity. To this end, here are some of the benefits that it can yield for enterprises.
Process Intelligence Benefits
1. Process visualization
The most notable benefit of process intelligence is that it can help gain a greater understanding of your enterprise’s operations. For example, with a transparent, visual model of workflows, you’ll determine the bottlenecks causing inefficiencies and delays and how to address these concerns. In other words, it allows businesses to find problem areas that they would have otherwise missed to improve upon them.
Apart from shedding light on areas that may require improvement, these platforms can help you better understand how the existing processes operate. Process intelligence provides accurate insights into how processes are performing and helps in decision-making for future enhancements. It can be applied to many types of enterprises, such as manufacturing, distribution, retail, and logistics.
3. Cost optimization
When obstacles are eliminated, and the processes are efficient, operational expenses are effectively reduced as well. This is integral for any business since its outlays determine profit margins. And by lessening the financial load of the company, it’ll offer you more opportunities to make more investments to support the growth of your enterprise.
Another advantage of process intelligence is that it generally combines artificial intelligence modeling with cross-application information collection to provide a greater level of information. This means that you’ll have more accurate data on hand, which will allow you to automate tasks and processes end-to-end with an Intelligent Automation Platform , and have a significant impact on your company.
Criteria for Choosing the Right Process Intelligence Platform
No one can deny the importance of having a process intelligence platform. However, with so many available platforms, it can be a complicated affair to choose the right one. To help you out, here are some of the criteria you must keep an eye out for:
- Data indexing and collection. The first element to consider when selecting a process intelligence platform is its capacity for collecting data. All businesses will have multiple endpoints from where it accumulates machine data. Over time, they’ll expand with the information it gets. And it must be capable of collecting data from every system within the cloud and the premises.
- Data Visualization. The platform’s ability to define and index data, perform complex integrations, and make the information searchable through unified dashboards should also be considered. After all, it’s how you’ll derive value from it. The way it visualizes the data and connects it with multiple sources is critical because the performance needs of a business will vary across different units and departments.
- Ease of scaling. Process Intelligence platforms should be simple to deploy and easily scalable for meeting the enterprise’s evolving needs.
Steps for Effective Process Intelligence Implementation
The first step in implementing process intelligence is to define your goals. What do you want to achieve? Once you have a goal, you can identify the data and processes you need to track in order to measure progress. This might include things like website visits, customer complaints, product defects or sales leads.
Once you have the data you need, it’s time to analyze it and find patterns. This is where process intelligence comes into play. Process intelligence tools can help you spot trends that would otherwise be difficult for humans alone – such as when sales drop off during certain months each year or if there are spikes in customer complaints about a particular product feature.
Finally, use your findings to make adjustments and improve processes. If you’re seeing dips in sales during specific months, then you might want to adjust your strategy accordingly with offers tailored towards those times of year when customers are less likely to buy.
The process intelligence cycle doesn’t end here though – once improvements have been made, it’s time for another round of data collection and analysis so that you can continue iterating on your process improvements indefinitely.
Whether you’re a B2C or B2B business, you can always benefit from a process intelligence platform. However, you must make sure that you choose the right solution so carefully consider the factors listed above. They’ll guide you to the one that will best meet your needs.
About the Author:
Mocca Bajao is a Digital PR Specialist at Thrive who enjoys writing about SEO, tech, and business.