What does KPI stand for in process analysis?

In process analysis, KPI stands for Key Performance Indicator. This term is crucial as KPIs are specific measurable values that help organizations assess their performance over time. They provide insights into the effectiveness and efficiency of processes, enabling businesses to make informed decisions based on data.

Key Performance Indicators are used across various industries to track progress toward strategic goals, evaluate the success of initiatives, and identify areas for improvement. By analyzing KPIs, organizations can pinpoint trends, recognize strengths and weaknesses, and align their processes with broader business objectives.

Understanding KPI is essential in process mining as these indicators are often derived from the data analyzed. They guide teams in focusing their efforts on what truly matters for performance enhancement and operational excellence.