METHOD AND SYSTEM FOR ESTIMATION AND ANALYSIS OF OPERATIONAL PARAMETERS IN WORKFLOW PROCESSES

A system and method for estimation and analysis of operational parameters in workflow processes in order to establish effect of parameters on one or more critical parameters is provided. The method includes creating a Bayesian network including one or more operational nodes representing one or more operational parameters and one or more critical nodes representing one or more critical parameters. The method further includes generating an evidence set based on market events and deducing inferences based on the generated evidence set and Bayesian engine. Inferences are deduced by determining possible discrete states of operational parameters associated with one or more target nodes and their probability distribution values. Deduced inferences are then validated to confirm strength of probability distribution values. Forecasting for a selected operational parameter is performed by obtaining probability distribution of independent parameters and then performing forecasting for the selected parameter using Bayesian locally weighted regression model.