Business intelligence is how companies intend to ride the wave of technology into the future. RISE with SAP offers a unique take on the age-old question of integrating business intelligence to form an intelligent enterprise. Business Process Intelligence (BPI) For BPI to be successful, it needs to leverage the three pillars of transformation – people, process, and technology. Analytics links these three pillars together. But what role does analytics play in the BPI component of RISE with SAP?
Understanding the Role of Business Process Intelligence
At its heart, BPI offers best-in-class process management, process efficiency, and intelligence capabilities. No enterprise intelligence system is complete without these elements. The foundations that BPI develops can then be used to support and enhance the business’s digital transformation. BPI has several sub-components, all aligned to the overall goal of process intelligence. Analytics is an essential factor in each of these sub-components.
Analyze and Monitor
RISE with SAP offers a centralized hub to manage all of the analysis and monitoring functions known as “home base.” Monitoring and analyzing KPIs is essential in determining where shortfalls exist and where the business can benefit from improvement. The home base serves as a “control tower” for business process management and intelligence.
Simulate, Design and Improve Through Iteration
Diagnostic and prescriptive analytics are core elements of these sub-components. The business can ask questions about what would happen if certain things were changed by running process scenarios. Instead of committing processes in that direction, BPI allows for simulation and investigation of results to determine whether it’s a viable direction to go. Diagnostic analytics have been using machine learning algorithms to improve their results through iterative testing.
Model and Manage
While previous success is no guarantee of future performance, modeling can prove to offer some critical insights. Predictive analytics algorithms can look at earlier data about processes and determine the viability of those processes in future applications. The analytics that modeling and management use may be derived from the Simulate, Design, and Improvement sub-component previously mentioned. These systems are not siloed but work alongside each other to produce their results. Sometimes, they use the results of another part of the system as inputs for their own area.
Benchmarking processes gives businesses a chance to explore their process efficiency. Analytics can offer insight into what should improve, but only if it can be measured can any real change be noticed. By introducing benchmarking into its BPI, businesses find a way to quantify their improvement. In a digital transformation strategy, this benchmarking provides valuable information about the level of improvement over time. Efficiencies can be measured and accounted for, then improved through iterative processes.
Digital Transformation And Analytics
RISE with SAP offers businesses a one-stop-shop for digital transformation tools. Analytics is just one of the core concepts that help business transformation achieve its goals. The data generated through these components and sub-components is what will determine if the business’s processes will improve or not. Analytics is a cornerstone of good business process intelligence. By leveraging new technology, a company can anticipate changes and implement them to speed up digital transformation.