BPM involves consolidation of data from various sources, querying, and analysis of the data, and putting the results into practice.
BPM enhances processes by creating better feedback loops. Continuous and real-time reviews help to identify and eliminate problems before they grow. BPM's forecasting abilities help the company take corrective action in time to meet earnings projections. Forecasting is characterized by a high degree of predictability which is put into good use to answer what-if scenarios. BPM is useful in risk analysis and predicting outcomes of merger and acquisition scenarios and coming up with a plan to overcome potential problems.
BPM provides key performance indicators (KPIs) that help companies monitor efficiency of projects and employees against operational targets.
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