Path-based modelling of business processes. (8th February 2021)

• Record Type: Journal Article
• Authors: Nüßer, Wilhelm
• Is Part Of: International journal of simulation and process modelling. Volume 16:Number 1(2021)
• Page Start: 14
• Page End: 25
• Publication Date: 2021-02-08
• Subjects: stochastic processes -- business processes modelling -- simulation -- entropy -- path probabilities -- fluctuations; Management -- Computer simulation -- Periodicals; Mathematical models -- Periodicals; Operations research -- Periodicals; Simulation methods -- Periodicals; 003.05
• Languages: English
• ISSNs: 1740-2123

Abstract

Modelling business processes as stochastic processes has a long tradition. Most models focus on the dynamics of the complete state of the process. In this article we propose a new approach which concentrates on the stochastic paths of measurable quantities like key performance indicators. Using this concept a strong analogy to current results in statistical physics is exposed which leads to a general expression for the entropy of a business process as well as results quantifying the performance loss in processes due to fluctuations. Finally, path probabilities and averages of key performance indicators of a process are given in terms of business constraints expressed as variational principles.