IBM Blueworks Live is a cloud-based business process modeling tool that allows users to collaboratively document, analyze, and improve business processes through a central repository. It uses the BPMN 2.0 standard and provides an easy-to-use interface for line of business users to engage in process discovery and improvement without formal training. Over 75,000 users from top companies in various industries like banking, insurance, and retail are using IBM Blueworks Live to increase efficiency and identify areas for process enhancement.