BPM Analytics
Real-time process monitoring: Driving agility through BPM analytics
Organisations across the globe are increasingly leveraging advanced data analytics software and business analytics tools to streamline operations, enhance decision-making, and respond to market changes in real time. At the heart of this transformation is Business Process Management (BPM) analytics, which empowers businesses with the capability to monitor processes in real time and navigate today’s dynamic market with unmatched flexibility and insight.
This article explains the importance of real-time monitoring and how companies can stay competitive and drive innovation by leveraging the right business analytics solutions.
Why real-time process monitoring matters
The global advanced analytics market, valued at $49.81 billion in 2023, is projected to grow to $338.71 billion by 2033, with a compound annual growth rate (CAGR) of 21.13%. This growth is fuelled by the growing demand for data-driven decision-making, advancements in AI and ML technologies, and the widespread adoption of cloud computing.
North America accounted for the largest market share in 2024 due to its strong emphasis on digital transformation and advanced IT infrastructure. In Europe and APAC, sectors like manufacturing, e-commerce, and public services are increasingly adopting advanced analytics to optimise processes and improve customer engagement.
As digital transformation initiatives accelerate, the need for real-time analytics to stay competitive continues to fuel market growth.
Benefits of real-time process monitoring
Real-time process monitoring allows organisations to track, analyse, and optimise workflows as they unfold, enhancing agility and adaptability through immediate visibility and actionable insights into operations. Key benefits include:
- Comprehensive data connection and enhanced collaboration: BPM analytics integrates data from multiple processes for a unified view. Teams can work together more effectively by accessing shared process insights.
- Speed, scalability, and competitive edge: Scalable systems support growing data and users for continuous process optimisation. Immediate analysis helps businesses respond faster to process deviations or market changes.
- Multi-platform flexibility and improved decision-making: Real-time, accurate data accessible across platforms ensures precise monitoring. This accessibility boosts agility and responsiveness, enabling quick, data-driven decisions to optimise processes.
- Strategic targeting and analysis: This capability enables organisations to forecast and plan processes effectively, leading to improved efficiency and a stronger competitive position. It also tracks key process KPIs, ensuring alignment with overall business objectives.
- Profitability and cost savings: Real-time monitoring detects inefficiencies and reduces waste, leading to improved workflows, greater efficiency, and higher productivity. Optimised processes directly contribute to increased profit margins.
- Customer and employee satisfaction: Identifying and addressing process gaps enhances service delivery. Process improvements reduce repetitive tasks and streamline workflows, fostering greater satisfaction for both customers and employees.
The role of BPM analytics in agility
Agility is characterised by reduced time to market, accelerated innovation, and enhanced user experiences. With 73% of B2B and B2C customers valuing their experience as much as the products or services they purchase, delivering exceptional customer experiences is as crucial as agility itself.
This is where BPM analytics becomes essential. By consolidating data from organisational silos, it provides a holistic view of processes, bridging the gap between agility and customer-centricity. These insights empower organisations to uncover inefficiencies, anticipate disruptions, and implement strategic improvements to enhance operational performance and customer satisfaction. Key capabilities driving agility include:
- Process visualisation: Real-time dashboards offer intuitive visual representations of workflows to identify trends and anomalies.
- Predictive analytics: Machine learning algorithms forecast disruptions and suggest proactive adjustments.
- Integration with IoT and RPA: Seamless connectivity with IoT devices and RPA ensures efficient operations.
- Artificial intelligence: AI enables intelligent decision-making and process optimisation using real-time data.
- Digital twins: You can simulate workflows to predict outcomes and refine processes without disruptions with the digital twin technology.
- Hyperautomation: Hyperautomation is a combination of AI, RPA, and low-code platforms and is valuable for end-to-end process automation.
- Process mining: Process mining helps analyse event logs to identify inefficiencies and bottlenecks.
Real-world examples highlight the impact: One of the largest consumer goods companies developed over 50 apps on a cloud-based platform, deploying them four to five times faster and at 40% lower costs. Organisations emphasising customer experience see a 1.6x increase in customer lifetime value compared to others. By creating and capturing new value, businesses are demonstrating the transformative power of BPM analytics in driving agility and growth.
A comparison of business intelligence tools for BPM analytics
Organisations that seek standalone BI tools may opt for platforms like Power BI, Tableau, or Oracle Analytics Cloud. While major BI tools provide powerful platforms for data analysis and visualisation, a more holistic approach combines technology with domain expertise.
A more comprehensive, service-oriented approach includes strategic consulting and tailored data analytics solutions. This approach not only implements analytical tools but also provides customised solutions that align with specific business objectives. This integrated service model ensures that analytics are directly linked to improving business performance and profitability.
What can Infosys BPM analytics do for your business?
Whether it’s enhancing operational efficiency, improving customer experience, or driving innovation, the possibilities are vast for businesses that embrace the power of real-time BPM analytics. Infosys BPM analytics solutions unlock the full potential of your business processes.
From real-time process monitoring and predictive insights to seamless integration with cutting-edge technologies like IoT, AI, and RPA, our services are designed to drive agility, elevate customer experiences, and stay ahead in a dynamic market.
