SPARK Matrix™: Process Mining, Q4 2024

Process mining helps organizations to analyze, identify, automate, and monitor event logs and real-time systems data to enhance end-to-end operational business processes, where it includes a dynamic set of tools to capture data across an organization's IT systems and varied data sources. This helps organizations to identify gaps in business processes and solve issues that could impact the performance of these business processes. The collected data is then transformed into event logs to provide dynamic visualization of the organization’s “as is” business processes. The process mining software automatically uses these event logs to create a detailed process graph with fact-based insights about the business processes. These insights enable organizations to perform process audits, discover process deviations, identify root causes, optimize operations, and monitor the results against various KPIs. Process mining also identifies issues that need to be improved, thereby enabling organizations to continuously optimize and improve processes.

QKS Group’s Process Mining market research includes a detailed analysis of the global market, including emerging technology and market trends, and future market outlook. This research provides strategic information for technology vendors to better understand the existing market and support their growth strategies and for users to evaluate different vendors’ capabilities, competitive differentiation, and market position.

The research includes detailed competition analysis and vendor evaluation with the proprietary SPARK Matrix analysis. SPARK Matrix includes ranking and positioning of the leading Process Mining vendors, including ABBYY, Appian, Apromore, ARIS, Celonis, Decisions, Futuroot, IBM, iGrafx, inverbis analytics, Microsoft, mindzie, mpmX, Pegasystems, process.science, ProcessMaker, QAD, QPR Software, SAP Signavio, StereoLOGIC, UiPath, and UpFlux.

According to Pranjal Singh, Principal Industry Analyst at Quadrant Knowledge Solutions, "Process mining is a transformational tool that redefines how organizations perceive and refine their operations. By systematically capturing and analyzing data across diverse IT systems, process mining provides an unprecedented level of transparency and insight into 'as is' business processes. This not only highlights inefficiencies and deviations but also empowers businesses to proactively manage and optimize their operations. The integration of AI and ML further extends these capabilities, enabling predictive and prescriptive insights that can significantly elevate operational efficiency and compliance.”

Table of Contents

Executive Overview

Market Definition and Overview

• Market Definition
• Market Overview
• Key Process Mining Capabilities

Competition Landscape and Analysis 

• Key Competitive Differentiators

SPARK Matrix™: Process Mining, Q4 2024

Vendor Profile

Research Methodologies

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