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Combining ML and Process Mining for Optimal Business Ops | Part I

By in Process Management, Process Mining

The pace of change in today’s enterprise ecosystem is unfathomable. Technology is at the centre of this change, and it has mandated that organizations shift to a mindset of continuous improvement to keep up with the rest of the market. Process Mining offers organizations the insights needed to visualize the flow of information and the different applications that it taps into along the way. This can help enterprises uncover opportunities to optimize and reduce risk. Leveraging machine learning to augment process mining will considerably shorten up the discovery process leading to a faster time to value. Many companies believe that they know their processes inside and out. Still, patterns may be formed from data hidden below the surface, which can help them focus on the most impactful automation to deliver a strong return on investment. Once intuitive ML is in place, process mining can measure return on investment, monitor processes, and predict future outcomes allowing companies to take a proactive, process-focused approach to transformation. This is the goal of Lana Labs, a specialist in AI-supported analysis of business and production processes. “Our goal is to make companies smarter, more efficient and faster through automated process analysis, which we achieve through our proprietary process mining software LANA, whose complex machine learning algorithm is unique on the market,” states Dan Wucherpfennig, CEO and Managing Director of Lana Labs.

 

In the world of business and production process analysis, no amount of data is ever enough. Here,  highly complex processes involving many systems need to be connected to get the whole event streams. Furthermore, in complex process scenarios, customers spend up to 70 per cent of their time mining a project with data preparation, data gathering, etc., using only 30 per cent of the process projects’ time to analyze and make decisions. This translates to 70 per cent of the time spent on prep work, leaving only 30 per cent for useful work. Many enterprises also struggle with the resources required to start process planning, feed resources, or develop their own for a project. Lana Labs is specialized in processes that flip the data to insights ratio, helping different systems connect and get the full scope view of all the events. Lana Labs enables this using LANA Connect , a key feature of their platform, which helps minimize the resources required. By creating connections between the source data and correlating all the data together in a single events stream, the platform unburdens the resource requirements for businesses. The solution lowers the entry barrier for companies to start with process mining with the unprecedented low amount of resources they would have to invest in.

You want to learn more about process analysis with LANA Process Mining or discuss your specific use case? Book your individual tool demo with one of our experts today!