Process Analytics is any methodology that is utilized to specifically collect, research, and compile essential information to provide the process decision-makers with insight about the efficiency and effectiveness of processes. Since all successful organizations are always seeking to improve the way business is done, process analysis is an approach helping their managers to objectively measure and improve the performance of their business activities. Regular use of process analytics is a part of process controlling as it can point at certain level of inefficiency and provide necessary background for process decision-makers to whether apply adjustment or not to react.
Business process analytics are derived for the following purposes:
- To understand and evaluate historical performance of a process;
- To understand what is currently happening with a process;
- To zoom into problems of certain process areas or elements;
- To identify and investigate specific cases of underperformance;
- To model future performance and issues of a process;
- To develop recommendations for preventing process fails;