Quadrant Knowledge Solutions announced today that it has named Minit as a 2021 technology leader in the SPARK Matrix analysis of the global process mining market.
The Quadrant Knowledge Solutions SPARK Matrix™ includes a detailed analysis of global market dynamics, major trends, vendor landscape, and competitive positioning. The study provides competitive analysis and ranking of the leading process mining vendors in the form of its SPARK Matrix, providing strategic information for users to evaluate different vendor capabilities, competitive differentiation, and market position.
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Process mining helps organizations in analyzing, identifying, automating, and monitoring event logs and real-time system data in order to improve end-to-end operational business processes. Process mining comprises a dynamic set of tools that collects data from an organization’s IT systems and various data sources. This collected data helps organizations in identifying business gaps and resolving issues that may have an impact on the performance of business processes.
Organizations are automating their business processes in order 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 traditional use cases of process discovery and is helping map the process mining solutions with customer journey mapping to further enhance customer experience. Organizations are also leveraging artificial intelligence (AI), machine learning (ML), and robotic process automation (RPA) that allow them to automatically discover and optimize critical business processes.
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“Minit, with its comprehensive technology for process mining, has received strong ratings across the parameters of technology excellence and customer impact and has been positioned amongst the technology leaders in the 2021 SPARK Matrix of the process mining market”, states Pranjal Singh, Analyst at Quadrant Knowledge Solutions. “Minit’s AI-based root cause analysis helps organizations to automatically evaluate possible bottlenecks. Furthermore, it uses ML algorithms for detailed metrics and statistics and advanced dashboards that combine interconnected visualization from both, process mining and business intelligence. With its robust technology platform, comprehensive functional capabilities, and compelling product strategy and roadmap, Minit is well-positioned to expand its market share in the global process mining market.”
Rasto Hlavac, Chief Strategy Officer at Minit, commented: “We are beyond excited to be named a leader for the fourth time in a row by independent analysts. We appreciate that Quadrant Knowledge Solutions recognized Minit as Technology Leader in its SPARK Matrix: Process Mining 2021, proving that our efforts and investments both in our technology and our customers are paying off.”
