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Process Analytics

Process analytics is a subfield of business intelligence that focuses on processes (BI). It makes use of the same data as most other forms of analytics, but it sees it as traces of business operations. It entails analyzing and improving future process performance using process-related data. Process analytics uses real-time data to assist businesses to evaluate their present processes to see if they are giving the best outcomes possible.

What it does- Process analytics may be used to discover opportunities for improvement in almost any sector. Process analytics includes the following features:

• Descriptive analytics collects historical data to help businesses understand past patterns and trends and how they affect present performance.
• Predictive analytics looks at historical performance trends and insights in order to forecast future results. Enterprises may utilize predictive analytics insights to make data-driven decisions to enhance future operations.
• Prescriptive analytics extends predictive analytics by providing data-driven suggestions for the next activities that firms may take to improve future performance.
  

Process analytics is a diverse and effective tool that may help capital-intensive companies make better business decisions. Organizations may enhance processes to provide durable and high-performing results by incorporating data-backed insights into business plans.