The recently released Gartner “Market Guide for Process Mining” is another proof for the importance of process mining as a strategy in digital business development. However, beyond just the list of process mining vendors, the study offers several relevant insights into the market and predictions about future trends in process analytics. These not only form a roadmap for business customers, but outline risks and opportunities for developers of process mining solutions as well.
In this article, we highlight 4 crucial key learnings about the trends and challenges of process mining as a driver for digital transformation.
April 2018 saw the release of the “Market Guide for Process Mining”, published by the international business research company Gartner. The guide serves as an introduction to process mining as a new solution to the current challenges of digitization. Author Marc Kerremans touches on process mining as an emerging market and as a new addition to the toolbox of businesses preparing for the digital transformation. He also lists active process mining vendors and their respective products.
The “Market Guide for Process Mining” can be used as a catalogue for businesses to look up and compare process mining vendors. However, it also holds importance for developers of process mining solutions as well. With its analysis of market trends and potentials, both process analysts and vendors should pay close attention to the predictions found within the document.
Here are 4 key learnings from the “Market Guide for Process Mining” that go beyond a comparison of vendors.
1.) Feature Focus – It’s not just about process discovery anymore
Internationally recognized process mining expert Prof. Wil van der Aalst as well as Gartner’s own market survey highlight a specific trend in the adoption of different process mining types: Process discovery has become a baseline functionality. While it is still an important part of the analysis, the focus in user behavior shifts beyond the simple discovery and visualization of processes towards more in-depth optimization measures such as conformance checking and process enhancement.
Learning: Companies specializing in the development of process mining solutions have to be able to go beyond process discovery and offer additional insights for their users. Requirements and expectations are ever-evolving. A modern process mining software has to be able to adapt to those shifts and make the customers’ needs their main priority.
See how LANA Process Mining specializes in conformance and enhancement to offer their users additional value beyond process discovery.
2.) Finding Your Niche – The right solution for the individual customer
The Market Guide predicts the process mining market to at least triple in size over the next two years. This development has another highly significant implication. Every new business client presents their own individual issues and challenges that a process mining tool needs to overcome. Very soon, it will not be enough to have a one-fits-all solution, as customer needs will become highly specific and need to be met with precise and specialized solutions.
Learning: For potential customers, finding the product that focusses on your individual needs and challenges will be a priority. With more vendors joining the process mining community, specializing on certain areas of expertise will become the main factor of contradistinction between providers. Process mining developers need to identify and utilize their respective competencies to increase customer satisfaction.
3.) Technical Versatility – Working within new digital frameworks
While both the application of process mining products as well as the scope of its market are rapidly evolving, internal IT systems are adapting to conform to these new contexts. Those systems, in addition to deeper ventures into IoT and customer services, present new opportunities for effective process mining. Even though the analysis and optimization of business processes will remain a priority for the foreseeable future, adoption of process mining techniques in IT, service and administrative processes is bound to see an increase. This becomes a challenge for process mining vendors who are not prepared for cross-system integration.
Learning: New technical frameworks for the application of process mining necessitate highly adaptable process mining services that are easy to integrate into complex or unconventional IT environments. The software needs to be versatile in its technical specifications to minimize the amount of manual integration.
Versatile integration and an open API are hallmarks of LANA’s design philosophy. Find out if LANA Process Mining is the right fit for your company by booking a product demo.
4.) Innovation Breeds Excellence – Keeping an eye on passionate start-ups
Lastly, we come full-circle by taking another look at the list of process mining vendors included in the Gartner “Market Guide for Process Mining”. While the largest competitors distinguish themselves by the breadth of products and services provided, it is the smaller companies and start-ups that impress with innovative solutions, pushing the envelope of what process mining has to offer. With the growing importance of specialized features and technical adaptability, many cutting-edge developments in process mining technology originate in small, highly-skilled teams. In this context, Gartner describes Lana Labs as an “innovative new entrant in this market”.
Learning: Businesses looking into smart process mining solutions will find that smaller providers offer a strong focus on innovative features. Oftentimes, this is supported by further research activity into new approaches to specific process mining challenges. The Market Guide provides a good overview over the strengths and special fields of expertise for most process mining vendors to help customers make an informed decision.
Learn about Lana Labs’ focus on innovation and research by getting in touch with us directly.