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3 METHODOLOGY
As businesses develop and grow, the management of
quality and performance becomes crucial. To achieve
success in businesses and enterprises, the considera-
tion of factors that affect business has great impor-
tance in Business Process Management (BMP). That
can be analyzed through dashboards, reports (Par-
menter, 2015) supporting decision-makers in identi-
fying opportunities for re-engineering the desired pro-
cess and improvements. There are many processes
involved in BPM to understand and measure the busi-
ness indicators. In our proposed methodology for
simplification and generalization, we comprise the
whole BPM into three important parts (i.e., manage-
ment, methodological approach, and technology). As
concluded from the literature, there is a lot of research
available for BPM to calculate the Key Performance
Indicators (KPIs) in qualitative, quantitative, and se-
mantic ways. But, proposal lack the ability to iden-
tify KPIs serialization based on priority in a semantic
way. KPIs pertaining to a business process can be in-
terrelated to each other, either directly or indirectly.
For example, the sell price is directly related to the
product cost. Consequently, this research aims to find
the best sequence of KPIs evaluation based on seman-
tic relations. The methodology has been graphically
viewed in Figure 1.
3.1 Business Process Management
(BPM)
Businesses are managed by high-level staff (man-
agers) for the smooth flow of services and success.
However, business process management involves sev-
eral important steps and resources such as the cre-
ation, implementation, monitoring, and analysis of
operational business processes, including people, or-
ganizations, software, documents, and other sources
of information (Park et al., 2012). To simplify BPM in
a generalized way, the BMP is summarized into three
categories: management, methodological approach,
and technology.
Management: A company’s management team
often defines processes, categorizes metrics, monitors
performance and goals, and works to improve pro-
cesses in order to meet market demands and provide
valuable goods and services. Hereafter, the manage-
ment team has extensive involvement in the conclu-
sion of indicators.
Methodological Approaches (for BMP): Busi-
ness process improvement is a continuous cycle that
is a part of the BPM methodology. Using phases,
actions, and procedures, aids businesses in improv-
ing their business operations. For example dynamic
BPM, agile BMP, and social BMP. To design, select,
monitor, and alter the business indicator depend on
which methodological approach is adopted for busi-
ness.
Technology (used for BMP): BPM technology
is mostly software systems that can trace and record
business processes to enhance analytics and business
communication. This technology helps automate ac-
tivities and track business projects and performance.
In order to improve performance, quality, and effi-
ciency, BPM technology essentially aids businesses
in having a clear grasp of numerous processes within
the organization. It helps in identifying the important
business indicators.
3.2 Indicators (for Business)
To successfully evaluate a business for its perfor-
mance, it is necessary to consider, analyze, and man-
age the factors/indicators that affect the quality, effi-
ciency, and growth of the business. There are numer-
ous indicators for BPM to be considered. Most of the
indicators are generic and can be selected by any busi-
ness accordingly, while others are specific and vary
from business to business. Specific indicators are de-
signed and selected by each business as per their re-
quirements. In this study, indicators are divided into
categories such as short-term indicators, long-term,
quantitative, qualitative indicators see Table 2.
This research paper considers the generic indica-
tors that are most common in every business activ-
ity to streamline the research model in a general per-
spective for the generalization and extraction of KPIs.
In contrast, specifically selected KPIs for a business
could not be suitable for others’ consideration. The
next step, the generalization of KPIs, is discussed in
detail.
3.3 Key Performance Indicators (KPIs)
A KPI is a quantifiable statistic that shows how well
a business is accomplishing its important business
goals. To extract the generalized form of KPIs, which
are able to be considered by all types of businesses,
the generalized and refined indicators are selected by
BPM. In order to select the most generalized KPIs,
we selected the common business indicator categories
that are included in almost every BPM. The common
categories include long-term, quantitative, dependent,
independent, cost, time, productivity, quality, high-
level, and low-level indicators. Whereas short-term,
qualitative, external, and internal indicators are spe-
cific to the business type, short-term indicators are
Semantic Representation of Key Performance Indicators Categories for Prioritization
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