The drive for the evolution of process analytics stemmed from the need for getting end-to-end visibility into complex business processes spanning multiple heterogeneous systems, and in real time. These processes can be within or outside an organization and the systems are mostly disparate. Various mining types encompassed by process analytics include process discovery, process conformance, and process enhancement. Business process analytics imparts visibility to organizations so that they can substantially improve throughput of their processes and work on optimizing these business process.
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The rising realization of redundancy of business process management (BPM) software to achieve the targeted results is propelling a growing number of organizations to adopt process analytics. Some of the key applications that will witness development in the coming years are IT process and customer interaction. Over the past few years, digitized business processes have picked up rapid pace and companies and business leaders are seen increasingly focusing on process analytics to drive digital transformation.
The report offers in-depth insights into the key growth drivers and trends shaping the contours of the global process analytics market. The study presents evidence-based assessments and evaluations of the prevailing paradigms and show stakeholders way forward in identifying lucrative avenues.
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Organizations from across diverse industry are pivoting their efforts in accelerating digital business transformations to gain traction among their consumers and also to catalyze their growth. This is a key factor driving the demand for process analytics. In addition, there is growing adoption of algorithmic business in businesses processes. The growth of the process analytics market will gain considerable strength from the constant drive for innovations in products and services. Furthermore, collaborations between process analytics providers and ERP vendors, which is boosting the process analytics market.