We had explained RPA extensively in layman’s terms and outlined its benefits. One of the frequently cited benefits is improved analytics and big data analytics has been a priority for executives for the past decade. So how does RPA benefit analytics?
Explore how RPA contributes to analytics
We should consider the analytics funnel above to see where RPA can contribute. Bots have essentially 2 critical functions from a data standpoint:
- Create meta data: As they complete tasks, they record their progress and the issues they face for diagnostic purposes. This data can be used for both the client or the RPA provider to identify RPA bugs and improve bot performance.
- Enable access to data in legacy systems: Since they overtake tasks that require interfacing with legacy systems, they make previously difficult to access data accessible. This can transform data collection capabilities of enterprises, especially those that depend on legacy systems.
As you can see, bots do not essentially improve analytics capabilities but aid in data collection. Even RPA vendors agree with this
, underlining that core benefit of RPA is in data federation: the capability to collect data from many different sources and aggregate it in an easy-to-analyze format.
Explore how data federation can contribute to your company’s performance
Firstly, data federation should not be a major concern for an SME or startup. However for large companies, it is a major concern as legacy systems historically held large companies back in terms of easy access to data. Now with access to granular data about processes, large companies can reap 2 important benefits:
Process optimization thanks to process mining
Granular data about processes can help identify bottlenecks and inefficiencies, enabling corporations to increase both speed and efficiency of the process. Furthermore, it makes dissemination of best practices easier. Since process flows can easily be visualized with the help of data, process flows in different regions can be compared to find the best processes for the whole company.