Overview
The Average Value calculator computes the mean value of a selected numerical attribute across all cases or events in your process. This calculator provides a single aggregate statistic that summarizes the central tendency of your data.
Common Uses
- Calculate average payment timeliness across invoices
- Determine average invoice amounts
- Find average order values
- Measure average processing times
- Add average value metrics to dashboards
Settings
Attribute Name: Select the numerical attribute for which you want to calculate the average value. This can be any case or event attribute containing numeric data.
Examples
Example 1: Average Payment Timeliness
Scenario: You want to know the average payment timeliness across all invoices to understand whether payments are typically early or late.
Settings:
- Attribute Name: PaymentTimeliness
Output:
The output shows a single value, such as "-16 days", indicating that on average, payments are made 16 days early (negative values indicate early payment).
Insights: This helps you understand payment behavior patterns and identify if early payment discounts are being utilized effectively.
Example 2: Average Total Invoice Value
Scenario: You want to calculate the average invoice value to understand typical transaction sizes.
Settings:
- Attribute Name: Total Invoice Value
Output:
The calculator displays the mean invoice amount across all cases, helping you understand your typical transaction size.
Insights: This metric is useful for financial forecasting, identifying outlier transactions, and setting payment approval thresholds.
Output
The calculator displays a single numerical value representing the arithmetic mean of the selected attribute across all applicable cases or events.
This documentation is part of the mindzie Studio process mining platform.