Process KPIs and Predictive Analysis

 To conduct the predictive analysis of any business process, you will have to depend on the key performance indicators. It is possible to identify the process KPIs using process mining techniques. The primary focus is on the business process and carrying out strategic process measurements.                          

Process Prediction Analysis

Identified key process indicators are often used to carry out process prediction analysis. The features of business process predictions are as follows.

·        Prediction of target variable of interests;

·        It is based on the process log data of the enterprise concerned; and

·        Determination of discrete target values

Prediction of Process Effectiveness

Process effectiveness can be predicted by comparing the results of using the actual process with the expected results that are targeted. The process effectiveness is determined using three key indicators. These are the time, cost, and quality of the business process. All these can be checked using the process mining technique. The results derived using process mining are compared with expected results to know the process's effectiveness.

Process Efficiency Determination

Key indicators for determining the efficiency of any business process are the number of resources used and the output results. The process prediction analysis is made by dividing the value-added time by the total lead time. Value-added time indicates the time used to create the product. Total lead time is the time used from the beginning till the end of the entire process.

Assessment of Non-Conforming Products

Identification of the products not conforming to the business process is vital as these are the elements that block the way to the success of the enterprise. The process KPIs in these cases are the internal as       well as the external process compliances.

Process prediction analysis is thus dependent on the key process indicators. An expert agency like Corporate Insight will identify both universal and custom key performance indicators to conduct such analysis.