The Business Process Management industry today is undergoing a fundamental shift and the credit goes to improving data analytics for managing ‘big data’. Using real-time data analytics is one of the emerging trends in BPM and this optimizes the performance of businesses. However, the real significance of data analytics in BPM is a better business outcome.
BPM is driven wholly by data and the current scenario poses more questions than answers when it comes to conversion of “big data”. The beginning and end of ‘big data’ analysis seems more as a mystery. The two areas that deserve expounding are the purpose of using ‘big data’ and making it roll out to people in need.
What is “big data” all about?
BPM is committed to helping companies move from silos, and the same is true with ‘big data’. The process is all about breaking complex data to enable companies have a resolute view of the information. The conversion of complex data to a comprehensible form is something which connects big data, BPM and cloud and all these processes aim at transforming businesses.
Companies are now considering BPM as a primary option in this data-driven age and are using a “first data” approach. Businesses pull out data from every possible source and try to bring it together in myriad ways. Some of the suggested methods to integrate data are Data Integration, Master Data Management, Business Activity Monitoring and Analytics, which is used to drive business decisions.
Making ‘Big Data’ Actionable
Getting ‘big data’ into action is not anything easy and is a real challenge. Matt-Davies, the senior director of product marketing, Cordys is of the view that examining the information that helps make a decision is just a first step, but that is where most companies stop. Making a data actionable is the key to set business process on fire.
One of the examples of such processes includes intensifying the viewed data and passing it on to a different team to interrogate using data management. This certainly gives a “data first” touch to BPM.
BPM is in action in a data-driven space and some of them include:
- Operations Intelligence
- Reinsurance Counterparty Management
- Remote Service Platform
Analysts collect data from all possible sources such as social media sites, mobile applications, web forums, cloud services and more to make strategic decisions. BPM automates all these processes; gathering and integration of data, thereby eliminating any mundane processes that limit the avenues of decision making. When there are bottom-up, top-down, middle-out and rules-driven BPM, data-driven BPM should not be far behind.