Process mining: a powerful and efficient way to cut through costs by rationalizing processes. Though many companies understand this value and actively work on it, the reality is that understanding processes sufficiently well to effectively optimize them is not always simple. Before teams are able to enhance or rationalize, processes must be figured out: They may draw charts, outline steps and actions, and run tests. Pen and paper or process diagram tools can be a good starting point, but the complexity of processes and their divergence from ‘ideal’ or ‘expected’ forms means a data-driven approach is vital in modern businesses.
To optimize a process, find the weak points in its flow and adjust specific steps of the process to reduce bottlenecks or risks of disruptions. As simple as it sounds in theory, the complexity of today’s processes makes this optimization a very challenging endeavor. Thankfully, digitalization immensely helps us make sense of the large number of processes in organizations and the many ways they could be more optimized.
The Untapped Potential of Process Mining
Process digitalization creates an opportunity for operational efficiency through process mining. This technique uses timestamps generated at various stages along a process flow and instantly creates a visual and statistical representation of the reality of any process, revealing inefficiencies to be worked on.
From customer journey optimization for an online retailer to loan management for a major bank, all industries can benefit from process mining in different ways. Streamlining processes is a key topic for any business on the hunt for cost-cutting but, surprisingly, the potential for process mining to generate material savings remains untapped. Let’s take an example with the finance function: In a recent survey published by EY, 93% of CFOs had not yet used process mining to map business processes.
This can be due to many reasons, but most companies encounter the following problems when they first attempt process mining:
- Massive amounts of process data ready for mining, but no accessible way to begin.
- Intense efforts to generate process maps from logs without filtering capabilities, creating unintelligible results.
- Point solutions for process mining can be expensive, complex, and difficult to extend.
Aware of these widely shared obstacles, Dataiku proposes a new approach to process mining with a dedicated solution. This plug-and-play toolkit turns your digital process logs into actionable insights to quickly discover and achieve better processes.
How Can Dataiku's Business Solutions Help You Reach Full Potential?
Business Solutions are Dataiku add-ons accelerating the way to achieve advanced or foundational industry-specific use cases within your organization. They are an operational shortcut to achieve real-world business value. Taking advantage of Dataiku’s core features, they are built to be fully customizable and entirely editable.
They come with:
- A user-friendly interface that enables fine tuning to match specific business requirements
- Ready-to-use dashboards that can be customized
- Documentation and training materials
Dataiku industry specialists develop solutions for every vertical, among which:
- Retail & CPG: Distribution spatial footprint, market basket analysis, RFM-enhanced customer lifetime value, product recommendation
- Financial services and insurance: Interactive document intelligence for ESG, modern insurance pricing, AML alerts triage
- Health and pharmaceuticals: Omnichannel marketing, accelerating drug repurposing
- Manufacturing and energy: Predictive maintenance, outliers detection
As a result, business professionals experience a boost in AI productivity and can rationalize their resources.
How Does It Work in Practice?
The Process Mining solution provides a plug and play project to quickly deep dive into specific processes, analyze outliers, and apply powerful statistical techniques to enable remediation and optimization efforts.
Learn more about Dataiku's Process Mining solution in the video above.
With this solution, roles focused on the optimization of processes from any industry, like COOs, operations leads, business analyst, or financial analysts are able to:
- Immediately gain insights into processes without specialized training, software, or investment.
- Allow subject matter experts, operators, and management to collaborate directly.
- Easily export and share aggregate and case-level results outside the platform.
- Quickly set up automated checks to evaluate if operational improvements are achieved or maintained.
From a user perspective, the solution is made of the following easy-to-use components. Users can:
1. Receive Instant Setup via Dataiku Application:
Easily connect to relevant data sources and process relevant columns without writing code or performing any manual modification.
2. Quickly Identify Standard & Anomalous Processes and Root-Cause Issues:
Simple and powerful filters, powered by advanced analytics, allow rapid isolation of different workflows and their components.
3. Track Process Efficiency at Any Scale, From Massive Datasets...
Use powerful conformance checking logic over time series for past and future data.
4. ...to Individual Cases:
Explain important insights or anomalies easily to management and operators by extracting specific illustrative cases.
5. Leverage Powerful & Intuitive Visual Analysis:
Use Dataiku’s visual Process Miner to understand your processes, identify anomalies, and track conformance over time.
Start to untap the potential of your process logs with Process Mining right now, with these simple requirements:
- Process data: Case ID, Activity ID/Name, Timestamp
- Dataiku version: 9.0 or later