What do "KPIs" represent in Process Mining?

In the context of Process Mining, "KPIs" stands for Key Performance Indicators. These are measurable values that demonstrate how effectively an organization is achieving its key business objectives. They are essential in providing insights into process performance and identifying areas for improvement.

KPIs allow organizations to track progress against specific targets and facilitate data-driven decision-making. For example, in a business process, KPIs can include metrics such as process cycle time, compliance rates, or defect rates, which help determine how well a process is functioning and whether it meets the desired performance standards.

By analyzing these indicators, organizations can pinpoint inefficiencies and enhance the performance of their processes, ultimately leading to better resource allocation and improved outcomes. In summary, KPIs play a vital role in assessing and guiding organizations by offering a clear view of performance against established objectives.