1 Utrecht University, Utrecht, The Netherlands
2 Ulsan National Institute of Science and Technology, Ulsan, Republic of Korea
To highlight the need for more nuanced performance metrics in outcome-based predictive process monitoring, we introduce a classification of business scenarios along two dimensions: the frequency of and the risk associated with the decisions taken using a predictive monitoring model.
- Frequency of significant performance drop
Given the sequence of performance values
- Volatility of performance
Given the sequence of the standard deviations
- Magnitude of performance drop
The magnitude of performance drop is the difference between a drop point
- Recovery rate
The recovery rate of a significant drop
The average recovery rate (