Attribute to: Professor Marlon Dumas, Co-Founder and Chief Product Officer, Apromore
Process mining:
Process mining is a powerful analytical method that helps organisations understand their business processes in detail. By discovering end-to-end process flows from event logs generated by IT systems, process mining enables organizations to see how their processes actually operate, as opposed to how they are supposed to operate. This data-driven approach to process analysis enables business teams to better identify bottlenecks, inefficiencies, sources of defects, and improvement opportunities, including which processes or activities may benefit most from automation or standardisation.
The transparency provided by process mining enables companies to refine their processes. This helps to optimise team workflows, increase productivity, provide better resource allocation, and generate significant cost savings for the business. With real-time data, companies can continuously monitor processes, ensuring they remain optimised and aligned with strategic goals.
Digital twins:
A digital twin is a virtual replica of a physical asset, system, or process, which allows businesses to simulate, analyse, and optimise their operations in a risk-free environment. By creating digital twins, companies can test different scenarios, predict outcomes, and make informed decisions without disrupting operations.
This solution can be valuable in banking environments as it allows new protocols to be trialed in a closed environment before being publicly rolled out. This makes it a good option for helping organisations to trial solutions for new regulations, helping to keep them on the right side of compliance. Digital twins enable predictive maintenance, reducing unplanned downtime and extending the lifespan of assets. Moreover, they facilitate better design, planning, and operational efficiency by providing a comprehensive view of how various components interact within a system.
No-code solutions:
No-code platforms empower teams to develop applications and automate processes without extensive coding knowledge. No-code solutions accelerate the development cycle, reduce reliance on IT departments, and allow businesses to respond quickly to market changes.This democratisation of technology enables non-technical employees to create solutions tailored to specific business needs, fostering innovation and agility.
This flexibility is crucial in a dynamic business environment where agility and speed determine success. Additionally, no-code platforms offer businesses the power to explore their data, validate their hypothesis and make quicker decisions, something which is vital for solving potential issues. For example, a no-code approach to process mining delivers powerful results, allowing businesses to gain insights, access data and test changes without needing large technical support teams or specialised data scientists. This shift means that organisations can create faster, more efficient business processes, enhancing their agility and flexibility in the digital transformation journey.
A digital future:
Adopting digital technologies like process mining, digital twins, and no-code solutions is not just a trend, but a necessity for businesses seeking to optimise their operations. These technologies offer tangible benefits, from enhanced efficiency and reduced costs to improved decision-making and agility. By embracing these innovations, businesses can position themselves for long-term success in an increasingly digital world.
Marlon Dumas, Apromore Chief Product Officer, Co-Founder, and Professor at University of Tartu
Marlon is a professor of Information Systems at the University of Tartu. For the past two decades, he’s conducted research and delivered business process management and process mining consultancy. He has executed R&D projects funded by the European Research Council, the Australian Research Council, the US Army Research Lab, and multinational companies including SAP, Microsoft, and Swedbank. His research has led to 200+ scientific publications, 10 US and EU patents, and a textbook used in 250+ universities.