Market Analysis
published on Sep 09, 2024
Report Overview:
NelsonHall’s Process Understanding market analysis consists of 61 pages
Who is this Report for:
NelsonHall’s Process Understanding 2024 report is a comprehensive market assessment report designed for:
- Sourcing managers investigating sourcing developments within the process understanding platform market
- Vendor marketing, sales, and business managers developing strategies to target process reengineering opportunities
- Financial analysts and investors specializing in the digital transformation platform sector, including those analyzing task and process mining platforms.
Scope of this Report:
The report analyzes the market’s major process understanding platforms and addresses the following questions:
- What is the market size and projected growth for the process understanding platforms market by geography?
- What is the profile of activity in the process understanding platforms market by industry sector?
- What are the top drivers for adoption of process understanding platforms?
- What are the benefits currently achieved by users of process understanding platforms?
- What factors are inhibiting user adoption of process understanding platforms?
- What pricing mechanisms are typically used within process understanding platforms and how is this changing?
- Who are the leading process understanding platform vendors globally and by geography?
- What combination of capabilities are typically provided within process understanding platforms?
- What are the challenges and success factors within process understanding platforms?
Key Findings & Highlights:
NelsonHall’s market analysis of the process understanding market consists of 61 pages. The report focuses on process understanding platforms and builds on the earlier “Process Understanding Technology Evaluation” projects with an updated view of the current functionality and planned roadmaps of task, process, and communication mining platforms, including their capabilities in:
- ETL and desktop recording - to extract, transform, and load transactional data from IT systems for analysis and the collection of user actions from desktop work and parsing individual tasks from streams of recordings
- Inbuilt analyses - to interpret the data and present it to users through a series of dashboards
- Conformance checking and proactive intervention - to understand how work is performed against organizational policies and best practices and to leverage ML and heuristics to trigger automations (workflows and RPA bots) and real-time process guidance on desktops
- Root cause analysis - to find factors that are contributing to certain process behaviors and outcomes. Advance forms of root cause analysis aim to perform decision mining, to understand why humans performed a task
- What-if/simulation/forecasting - to simulate scenarios of process transformation and to understand potential impacts before making changes
- Enabling process reengineering and orchestration - to identify processes that would benefit from process improvement and deploying technologies such as automation, OCR, email templates, AI/ML, etc., and support the ongoing management of processes via orchestration using mined data
- GenAI assistants - to provide process analysis and to support users in interpreting process data.
The key drivers for organizations to use process understanding platforms are to improve the overall visibility and transparency of processes, improved identification of root causes, and the identification of KPI impacts of process variations.
