INFOGRAPHIC
THE POTENTIAL FOR EXTERNAL COLLABORATION WITH SHARED PROCESS DATA EXCHANGES IS ON THE HORIZON FOR AMBITIOUS BUSINESSES THAT WANT TO SEEK ENTIRELY NEW SOURCES OF VALUE .
Infusing intelligence and predictability with digital process twins
Process intelligence has been a good starting point for diagnostics and addressing process problems or process debt . The study shows that process intelligence , implemented atop digital process twins , can deliver multifunctional data and insights . This will help business leaders predictively manage business uncertainties through digital command centres .
Digital process twins ( also known simply as Digital Twins ) enable multi-process and multifunction visibility , as well as blend multiple datasets , augmenting process intelligence , which was traditionally more focused on impact on individual business functions . Digital Twins enable scenario modelling and planning , as well as stresstesting and simulations – allowing for better future planning and addressing uncertainties .
And with the latest advent in process mining – specifically object-centric process mining ( OCPM ) – Digital Twins are made even more valuable .
Whereas traditional process mining allows you to analyse a single process ( like accounts payable ), the analysis becomes extremely powerful when it is capable of understanding and optimising interconnected processes . Object-centric process mining provides a 3D-view of how numerous processes work and interact ( think : procurement ’ s impact on production ) and thus enables optimisation across interconnected processes . If traditional process mining is an x-ray of a single process , then object-centric process mining is an MRI , providing a 3D-view of a company ’ s interconnected processes .
New horizons : External exchange
According to the study , the potential for external collaboration with shared process data exchanges is on the horizon for ambitious businesses that want to seek entirely new sources of value . An example of this might be a CPG company or a retailer exchanging inventory and payment data for mutual decision-making and action-taking benefits – in other words , looking for new sources of value through data exchanges . x www . intelligentcxo . com
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