Process Mining and the Fourth Industrial Revolution
We are very fortunate to witness (and take part in?) the 4th industrial revolution. Exciting times we live in! Instead of steam engines, electricity or semiconductors, our generation’s revolution is fueled by data. Lots of data.
New businesses and new business models have been built around collecting, organizing, co-creating and promoting data. Do names like Google and Facebook ring any bells?
One specific data type is almost ubiquitous in today’s world: events. Do you want examples? Posts in social networks, navigating a website, alarms generated by sensors, entries in system’s log files. The list goes on and on. Renamed researchers like Wil van der Aalst go as far as to coin the term “Internet of Events”.
Process mining is all about making sense of these events. In a nutshell, it is the convergence of data mining and process management. Simply put, it means applying analytics to events in order to learn and explore processes associated with those events.
Applications? Oh, the list is also long here. Process mining can be used for process discovery (reverse engineering processes based on events), process optimization (identifying deviations, bottlenecks, rework), compliance verification (including conformance checking), customer journey management, and much more.
There are already tools on the market that aim in the execution of process mining techniques. And Brazil is on the list of the main vendors of this technology. We at Icaro Tech have developed EverFlow. The company was recently listed as a Representative Vendor in Gartner's report* "The Market Guide for Process Mining".
It is striking how much a process mining tool can accomplish with as little as three 3 pieces of information per event: timestamp, case ID (ticket number, work order ID, customer ID), activity ID (action, state, resolution group).
Process mining promises to revolutionize disciplines such as ITSM 2.0, CRM, Industry 4.0. In the latter, we come full circle with the concept of industrial revolution; that is, a data-based discipline, Process Mining, that is part of the Fourth Industrial Revolution gets to revolutionize Industry itself. Oh, sweet irony.
Wanna take part in this revolution? Come learn more about Process Mining.
CTO Icaro Tech
(*) Market Guide for Process Mining – Marc Kerremans – 03 April 2018 – ID: G00353970
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
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