Path-based modelling of business processes Online publication date: Wed, 17-Feb-2021
by Wilhelm Nüßer
International Journal of Simulation and Process Modelling (IJSPM), Vol. 16, No. 1, 2021
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.
Online publication date: Wed, 17-Feb-2021
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