Robotic process automation (RPA) is the use of computer software ‘robots’ to handle repetitive, rule-based digital tasks. RPA bots work directly from an application’s user interface, mimicking human actions, including logging in and out, copying and pasting data, opening emails and attachments and filling out forms.
As companies look to dramatically increase efficiency in the wake of the COVID-19 pandemic, the market for RPA solutions is experiencing explosive growth. In fact, the global RPA software revenue is projected to reach $1.89 billion in 2021, an increase of 19.5% from 2020, according to the latest forecast from Gartner, Inc.
On the other hand, while RPA is considered a tool or a solution, process mining is more of a technique the goal of which is to turn event data into insights and actions. By applying specialized algorithms to event log data to identify trends, patterns and details of how a process unfolds, process mining enables companies to automate and streamline operations. The insights garnered from mining processes can then be used to reduce waste, allocate physical and human resources more efficiently, and enable faster responses to internal and environmental changes.