Arecent McKinsey Global Survey that analyzed the imperatives for automation success found that “more companies are pursuing automation now than two years ago. Two-thirds of respondents say their organizations are at least piloting the automation of business processes in one or more business units or functions, compared with 57 percent who said so in the previous survey.”The Survey found that the most commonly deployed automation technologies are business process management (BPM) platforms and robotic process automation (RPA). “These are followed by image-recognition technologies…and automated process-mining, process discovery, and documentation tools.” The demand for process mining and process discovery tools has exploded in recent years given the proliferation of automation technologies.According to experts, the process mining software market is expected to exceed $10 billion by 2028.Process discovery and process mining technologies help provide organizations with invaluable insights on how business processes actually perform and identify opportunities for improvement. While these terms are often used interchangeably, there are some important differences between the two technologies.
What is Process Mining?
Process mining is a technique for discovering, monitoring, and improving business processes. Using software, process mining technology automatically monitors processes, extracts data from event logs, and provides stakeholders with fact-based insights to aid decision-making and optimization. This focus on a specific business process to improve performance is a key difference between.According to Gartner, “Process mining aims to discover, monitor, and improve real processes (i.e., not assumed processes) by extracting knowledge from event logs readily available in today’s information systems. Process mining includes (automated) process discovery…”. Thus, process discovery is a component of process mining.
