scholarly journals PROCESS-EVENT APPROACH FOR OPERATIONAL RISK ESTIMATION

2019 ◽  
Vol 2 ◽  
pp. 70
Author(s):  
Vasily Karasev ◽  
Ekaterina Karaseva
Keyword(s):  
Financial Risk ◽  
Business Processes ◽  
Process Mining ◽  
Quantitative Estimation ◽  
Risk Estimation ◽  
Main Idea ◽  
Operational Risk ◽  
Economic Capital ◽  
Advantages And Disadvantages ◽  
Process Event

Authors propose a new process-event approach for quantitative estimation of operational risk in a bank and calculation the amount of economic capital in dynamics. The proposed approach, according to the Basel II Capital Accord, belongs to the category of “advanced methods”. Operational risk is not financial risk and appeared in unfavorable events mainly. A number of business processes are performed in banking activity. Every business process contains a set of routines (operations), which can be interrupted by operational risk events with certain losses. The main idea of the approach is to describe processes as chains of casual events instead of a traditional graphic description as diagrams. Authors introduce new concepts: an elementary process event, a chain of process events, a time diagram of enterprise’s event flow, and build logical and probabilistic risk models. Methods and formulas for calculation the current and integrated operational risk in dynamics, the amount of economic capital, upper and lower limits of reservation, are given. The value of integrated operational risk can be used as a rating of the current reliability of the bank. The paper outlines the advantages and disadvantages of proposed process-event approach. Research results can be implemented as analytical tool in risk management technology, “process mining” technology and in bank intelligent management systems. 

scholarly journals Extraction of Missing Tendency Using Decision Tree Learning in Business Process Event Log

Data ◽  
2020 ◽  
Vol 5 (3) ◽  
pp. 82
Author(s):  
Hiroki Horita ◽  
Yuta Kurihashi ◽  
Nozomi Miyamori
Keyword(s):  
Decision Tree ◽  
Human Error ◽  
Missing Values ◽  
Business Processes ◽  
Process Mining ◽  
Incident Management ◽  
Decision Tree Learning ◽  
Event Log ◽  
Process Event ◽  
Using Data

In recent years, process mining has been attracting attention as an effective method for improving business operations by analyzing event logs that record what is done in business processes. The event log may contain missing data due to technical or human error, and if the data are missing, the analysis results will be inadequate. Traditional methods mainly use prediction completion when there are missing values, but accurate completion is not always possible. In this paper, we propose a method for understanding the tendency of missing values in the event log using decision tree learning without supplementing the missing values. We conducted experiments using data from the incident management system and confirmed the effectiveness of our method.

scholarly journals Comparing Concept Drift Detection with Process Mining Software

2020 ◽  
Vol 13 (4) ◽  
pp. 101-125
Author(s):  
Nicolas Jashchenko Omori ◽  
Gabriel Marques Tavares ◽  
Paolo Ceravolo ◽  
Sylvio Barbon Jr
Keyword(s):  
Business Processes ◽  
Process Mining ◽  
Concept Drift ◽  
Relevant Information ◽  
Process Control System ◽  
Process Data ◽  
Advantages And Disadvantages ◽  
Depth Analysis ◽  
Changes Over Time ◽  
Concept Drifts

Organisations have seen a rise in the volume of data corresponding to business processes being recorded. Handling process data is a meaningful way to extract relevant information from business processes with impact on the company's values. Nonetheless, business processes are subject to changes during their executions, adding complexity to their analysis. This paper aims at evaluating currently available process mining tools and software that handle concept drifts, i.e. changes over time of the statistical properties of the events occurring in a process. We provide an in-depth analysis of these tools, comparing their differences, advantages, and disadvantages by testing against a log taken from a Process Control System. Thus, by highlighting the trade-off between the software, the paper gives the stakeholders the best options regarding their case use.

The convergence of Internet of Things, Blockchain and Connected Vehicles: Conceptual Advantages and Disadvantages of a new Cooperative Intelligent Transportation System

2021 ◽  
Vol 03 (01) ◽  
pp. 33-41
Author(s):  
Vittorio Astarita ◽  
Vincenzo Pasquale Giofrè ◽  
Giuseppe Guido ◽  
Alessandro Vitale
Keyword(s):  
Internet Of Things ◽  
Intelligent Transportation Systems ◽  
Intelligent Transportation System ◽  
Main Idea ◽  
Intelligent Transportation ◽  
Transportation Systems ◽  
Connected Vehicles ◽  
City Management ◽  
Advantages And Disadvantages ◽  
Blockchain Technology

This paper intends to explore the convergence of some technological innovations that could lead to new cooperative Intelligent Transportation Systems (ITS). The technologies that might soon converge and lead to some new developments are: the Blockchain Technology (BT) concept, Internet of Things (IoT) and Connected and Automated Vehicles (CAV). Advantages and disadvantages of the new concepts founding a new ITS system are discussed in this conceptual paper. Blockchain technology has been recently introduced and many research ideas have been presented for application in the transportation sector. In this paper, we discuss a system that is based on a dedicated blockchain, able to involve both drivers and city administrations in the adoption of promising and innovative technologies that will create cooperation among connected vehicles. The proposed blockchain-based system can allow city administrators to reward drivers when they are willing to share travel data. The system manages in a special way the creation of rewards which are assigned to drivers and institutions participating actively in the system. Moreover, the system allows keeping a complete track of all transactions and interactions between drivers and city management on a completely open and shared platform. The main idea is to combine connected vehicles with BT to promote Cooperative ITS use, a better use of infrastructures and a more sustainable eco-system of cryptocurrencies. A short description of BT is introduced to evidence energy problems of sustainability in the implementation of Proof of Work (PoW) that is adopted by many blockchains.

scholarly journals Role of Stochastic Petri Net (SPN) in Process Discovery for Modelling and Analysis

2021 ◽  
Vol 2021 ◽  
pp. 1-7
Author(s):  
Shabnam Shahzadi ◽  
Xianwen Fang ◽  
David Anekeya Alilah
Keyword(s):  
Petri Net ◽  
Business Processes ◽  
Time Perspective ◽  
Process Mining ◽  
Vital Role ◽  
Process Discovery ◽  
Stochastic Petri Net ◽  
Event Log ◽  
The Stability ◽  
Generalized Stochastic Petri Net

For exploitation and extraction of an event’s data that has vital information which is related to the process from the event log, process mining is used. There are three main basic types of process mining as explained in relation to input and output. These are process discovery, conformance checking, and enhancement. Process discovery is one of the most challenging process mining activities based on the event log. Business processes or system performance plays a vital role in modelling, analysis, and prediction. Recently, a memoryless model such as exponential distribution of the stochastic Petri net SPN has gained much attention in research and industry. This paper uses time perspective for modelling and analysis and uses stochastic Petri net to check the performance, evolution, stability, and reliability of the model. To assess the effect of time delay in firing the transition, stochastic reward net SRN model is used. The model can also be used in checking the reliability of the model, whereas the generalized stochastic Petri net GSPN is used for evaluation and checking the performance of the model. SPN is used to analyze the probability of state transition and the stability from one state to another. However, in process mining, logs are used by linking log sequence with the state and, by this, modelling can be done, and its relation with stability of the model can be established.

scholarly journals Discovering Business Processes from Email Logs using fastText and Process Mining

2020 ◽  
Author(s):  
Yaghoub rashnavadi ◽  
Sina Behzadifard ◽  
Reza Farzadnia ◽  
sina zamani
Keyword(s):  
Machine Learning ◽  
Business Processes ◽  
Oil And Gas ◽  
Process Mining ◽  
The Body ◽  
Process Models ◽  
Supervised Machine Learning ◽  
Implicit Information ◽  
Oil And Gas Sector

<p>Communication has never been more accessible than today. With the help of Instant messengers and Email Services, millions of people can transfer information with ease, and this trend has affected organizations as well. There are billions of organizational emails sent or received daily, and their main goal is to facilitate the daily operation of organizations. Behind this vast corpus of human-generated content, there is much implicit information that can be mined and used to improve or optimize the organizations’ operations. Business processes are one of those implicit knowledge areas that can be discovered from Email logs of an Organization, as most of the communications are followed inside Emails. The purpose of this research is to propose an approach to discover the process models in the Email log. In this approach, we combine two tools, supervised machine learning and process mining. With the help of supervised machine learning, fastText classifier, we classify the body text of emails to the activity-related. Then the generated log will be mined with process mining techniques to find process models. We illustrate the approach with a case study company from the oil and gas sector.</p>

Design of Portal for Improvement Controlling Sales Channel

2014 ◽  
Vol 693 ◽  
pp. 445-450
Author(s):  
Matus Peci ◽  
Pavel Vazan ◽  
Vladimir Surka
Keyword(s):  
Performance Indicators ◽  
Web Application ◽  
Business Processes ◽  
Initial Conditions ◽  
Content Management ◽  
Appropriate Technology ◽  
Content Management System ◽  
Sales Channel ◽  
Advantages And Disadvantages ◽  
Financial Costs

This paper presents design of portal that improves controlling of sales channel at initial conditions. The customer needed to display key performance indicators on the portal and thus significantly improve the efficiency of business processes after the deployment of Microsoft Dynamics CRM 2011. The aim of this paper is to choose appropriate technology to create a portal and design possible architecture of solution. Microsoft Dynamics CRM 2011 with Web Application Microsoft SharePoint platform provide a solution for process control of business processes in company that is primarily offered like as the best solution. On the other hand, we found the possibility of open source content management system DotNetNuke, which meets customer's requirements and therefore, there is a possibility to reduce financial costs when selecting this system. Finally, we evaluated considered technologies, prepared more price variations of architecture and compared advantages and disadvantages of these variations.

Modelling blockchain-based business processes: a comparative analysis of BPMN vs CMMN

2021 ◽  
Vol 27 (2) ◽  
pp. 638-657
Author(s):  
Fredrik Milani ◽  
Luciano Garcia-Banuelos ◽  
Svitlana Filipova ◽  
Mariia Markovska
Keyword(s):  
Design Methodology ◽  
Business Processes ◽  
Process Analysis ◽  
Process Models ◽  
Disruptive Technology ◽  
Content Type ◽  
Advantages And Disadvantages ◽  
Blockchain Technology ◽  
Block Chain ◽  
Insight Into

PurposeBlockchain technology is increasingly positioned as a promising and disruptive technology. Such a promise has attracted companies to explore how blockchain technology can be used to gain significant benefits. Process models play a cardinal role when seeking to improve business processes as they are the foundation of process analysis and redesign. This paper examines how blockchain-oriented processes can be conceptually modelled with activity- (BPMN) and artifact-centric (CMMN) modelling paradigms.Design/methodology/approachThis paper discusses how commonly occurring patterns, specific to block-chain-based applications, can be modelled with BPMN and CMMN. Furthermore, the advantages and disadvantages of both notations for accurately representing blockchain-specific patterns are discussed.FindingsThe main finding of this paper is that neither BPMN nor CMMN can adequately and accurately represent certain patterns specific for blockchain-oriented processes. BPMN, while supporting most of the patterns, does not provide sufficient support to represent tokenization. CMMN, on the other hand, does not provide support to distinguish between activities executed and data stored on-chain versus off-chain.Originality/valueThe paper provides insight into the strengths and weaknesses of BPMN and CMMN for modelling processes to be supported by blockchain. This will serve to aid analysts to produce better process models for communication purposes and, thereby, facilitate development of blockchain-based solutions.

scholarly journals CONDA-PM—A Systematic Review and Framework for Concept Drift Analysis in Process Mining

Algorithms ◽  
2020 ◽  
Vol 13 (7) ◽  
pp. 161
Author(s):  
Ghada Elkhawaga ◽  
Mervat Abuelkheir ◽  
Sherif I. Barakat ◽  
Alaa M. Riad ◽  
Manfred Reichert
Keyword(s):  
Systematic Review ◽  
Business Process ◽  
Continuous Monitoring ◽  
Business Processes ◽  
Process Mining ◽  
Concept Drift ◽  
Business Environments ◽  
Drift Analysis ◽  
Comprehensive Framework ◽  
Over Time

Business processes evolve over time to adapt to changing business environments. This requires continuous monitoring of business processes to gain insights into whether they conform to the intended design or deviate from it. The situation when a business process changes while being analysed is denoted as Concept Drift. Its analysis is concerned with studying how a business process changes, in terms of detecting and localising changes and studying the effects of the latter. Concept drift analysis is crucial to enable early detection and management of changes, that is, whether to promote a change to become part of an improved process, or to reject the change and make decisions to mitigate its effects. Despite its importance, there exists no comprehensive framework for analysing concept drift types, affected process perspectives, and granularity levels of a business process. This article proposes the CONcept Drift Analysis in Process Mining (CONDA-PM) framework describing phases and requirements of a concept drift analysis approach. CONDA-PM was derived from a Systematic Literature Review (SLR) of current approaches analysing concept drift. We apply the CONDA-PM framework on current approaches to concept drift analysis and evaluate their maturity. Applying CONDA-PM framework highlights areas where research is needed to complement existing efforts.

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