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Process Intelligence (PI) is a discipline and a range of methodologies used to analyze process data and reveal hidden knowledge that can point the direction and highlight the opportunities for further process development and improvement: to increase a process productivity, performance, product or service quality, etc. Process intelligence is a smart approach which can appear highly advantageous to an organization as it helps its managers to use a process data for creating competitive advantages and raising the business profitability.
It makes use of certain mathematical and statistical methods, including:
- Identifying and measuring process KPIs (key performance indicators);
- Discovering tendencies and problems by analyzing a process’s historical data;
- Identifying and justifying allowable variance in process results;
- Business process modeling and optimization;
- Measuring employee, machinery and process efficiency (output-input ratio);
- Discovering and assessment of the process risks;
- Calculating profitability of a process;
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