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Process Mining Explained: Techniques, Applications, and Challenges

Altexsoft

Process mining is a set of techniques for the analysis of operational processes based on event logs extracted from company’s databases, information systems, or business management software such as enterprise resource planning (ERP), customer relationship management (CRM), electronic health records (EHR), etc. What is process mining?

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Length of Stay in Hospital: How to Predict the Duration of Inpatient Treatment

Altexsoft

Intel and Cloudera saved a hospital system millions of dollars. Healthcare facilities and insurance companies would give a lot to know the answer for each new admission. Today, we can employ AI technologies to predict the date of discharge. Why is the length of stay important? days in 1960 to just 5.4 days in 1960 to just 5.4 Here is a ?ouple

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Estimated Time of Arrival: How to Approach ETA Calculations in Logistics

Altexsoft

It’s amazing how some people are so bad at time management while being so good at making up reasons for chronic lateness. How often do you have to wait for a friend who’s running late? In business, time is money. Just to illustrate the scale, remember Suez Canal blocked by the Ever Given containership in March 2021? ETA vs ETDel.

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Supply Chain Control Tower: Enhancing Visibility and Resilience

Altexsoft

Leading executives focus on building resilient and intelligent supply chains that can withstand the turmoil due to data-based proactive decisions. “Control towers are the artificial intelligence (AI) of supply chain. Everyone wants to have it, but nobody quite knows how it works.” Christian Titze, vice president analyst at Gartner.

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How Retailers Use Artificial Intelligence to Innovate Customer Experience and Enhance Operations

Altexsoft

Forrester Consulting discovered that poor checkout experience and long lines are the third highest reason grocers would skip the line and shop in a different place. In-store cameras and sensors detect each product one takes from a shelf, and items are being added to a virtual cart while a customer proceeds.

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Dynamic Pricing Explained: Use in Revenue Management and Pricing Optimization

Altexsoft

How would you price tickets not only to cover expenses for each route but also to achieve a certain level of revenue to be able to grow and develop your business? For instance, an airline can secure itself from bad sales during a low-demand season or before an upcoming departure day by putting tickets on sale. Pricing automation.

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The Big Picture of Business- Professional Education Necessary for Company Success

Strategy Driven

Professional education is an important ingredient in corporate development. Employees and executives are rarely mentored on the people skills necessary to have a winning team. Team building must be part of the corporate Vision first, not as a series of exercises delegated to trainers. 7 Steps of Professional Development : 1.