Lately, a trend towards real-time, process-centric Business Intelligence & Analytics on the operational level has emerged. Although there are various systems such as BAM, BPI or CEP that claim to deliver visibility for operational processes, the underlying capabilities remain vague. To close this research gap we present a conceptualization and operationalization for process visibility capabilities. We use the results of a literature analysis and expert interviews for the conceptualization of the respective capabilities. The operationalization is based on existing literature and refined in two academic feedback sessions as well as one card sorting procedure with experts from practice. Our results contribute to a better understanding which capabilities create process visibility and provide a basis for future research.