Average Value

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.

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This documentation is part of the mindzie Studio process mining platform.