Quadrant Knowledge Solutions’ SPARK Matrix provides competitive analysis and ranking of the leading Process Mining vendors.
iGrafx, with its comprehensive technology for process mining, has received strong ratings across the parameters of technology excellence and customer impact.
Quadrant Knowledge Solutions announced that it has named iGrafx as a 2022 technology leader in the SPARK Matrix: Process Mining, 2022.
The Quadrant Knowledge Solutions’ SPARK Matrix™ includes a detailed analysis of the global market dynamics, major trends, vendor landscape, and competitive positioning. The study also provides a competitive analysis and ranking of the leading Process Mining providers in the form of the SPARK Matrix™. The study also provides strategic information for users to evaluate different vendor capabilities, competitive differentiation, and market positions.
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According to Pranjal Singh, Analyst, Quadrant Knowledge Solutions, “iGrafx offers Process360 Live process mining solution that provides real-time process optimization by combining real-time operational intelligence with process design, simulation, predictive analytics, and AI-based automation. Advanced AI/ML-powered predictive analytics of Process360 Live enables organizations to predict all activities, including the associated costs and duration, in one step regardless of whether the activities occur linearly or concurrently.” Pranjal adds, “iGrafx has created an AI/ML-based prediction engine that enables higher levels of forecast accuracy for delivering faster and accurate results to make real-time digital twins a practical reality. The company has received strong ratings across the parameters of technology excellence and customer impact and has been positioned amongst the leaders in SPARK Matrix: Process Mining, 2022.”
“The Quadrant team’s comprehensive assessment and report validates our breadth, uniqueness and leadership in the Process Mining Market,” said Alexandre Wentzo, Chief Strategy Officer at iGrafx. “Our acquisition and integration of the Logprickr process mining functionality into the Process360 Live platform transforms our offering and support for Process Models and Analysis, Journey Models and Analysis, and Process Mining. This true 360-degree view of process and journeys ensures business changes can be managed and coordinated based on the most accurate holistic view possible delivering maximum value to businesses.”
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Process mining helps organizations analyze, identify, automate, and monitor event logs and real-time system data to improve end-to-end operational business processes. Process mining comprises a dynamic set of tools that collect data from an organization’s IT systems and various data sources. This collected data helps organizations identify business gaps and resolve issues that may impact the performance of business processes.
Organizations are automating their business processes to drive digital transformation, and processes play a critical role in the effective implementation of these digital business initiatives. Process mining is a critical solution that uncovers existing processes in an organization and provides solutions to subject matter experts for modeling, documenting, and collaborating to re-engineer an organization’s operational processes. Process mining is also helping organizations to go beyond the traditional use cases of process discovery and is helping map the process mining solutions with customer journey mapping to further enhance the customer experience. Organizations are also leveraging artificial intelligence (AI), machine learning (ML), and robotic process automation (RPA) to automatically discover and optimize critical business processes.