Achieving impact from advanced analytics may start with data, but it must be matched with deep understanding of industry dynamics and functional best practices. Only then is it possible to answer the question: what are the biggest opportunities for my organization to use data to create value?
Identify opportunities
In every analytics engagement we work closely with our client to develop a comprehensive, situation-specific understanding of trends and opportunities. Our analytics experts work alongside experienced McKinsey consultants drawn from across our global firm. This combination of industry, functional and analytics expertise enables our teams to identify the biggest opportunities – and to anticipate and address potential barriers to impact.
Create assets and models
Our team of more than 200 analytics experts includes analysts, data scientists, and data architects, nearly all with advanced degrees in their fields. This experienced team has expertise across 19 core service areas ranging from marketing mix modeling to supply chain network optimization.
This analytics expertise—combined with rigorous problem solving and creative data sourcing—allows us to develop consistently high-performing models. Our Marketing Mix Models typically deliver 15% improvement in Marketing ROI. Our Credit Risk models frequently achieve GINI coefficients 50% higher than industry norms.
Adoption and change
Once models have been refined and tested, we work with clients to embed analytics into management and decision processes. We define and create metrics to track progress. If required, our data visualization specialists, application designers and engineers work in rapid development cycles to create custom dashboards and tools that encourage end-user adoption.
To help clients drive lasting systemic change, we work collaboratively across functions and business units, from top to bottom. Our teams combine credibility in the c-suite with proven ability to build front-line capabilities using adult learning and change management techniques.
As needed, we draw on expertise from our Organization Practice to redesign processes, train end users and build analytic capabilities across teams ranging in size from a handful of team members to hundreds of employees.
Areas of expertise
We conduct projects across all functional areas. For the majority of clients the highest-value opportunities are centered on three functions in particular:
- Marketing, where our analytics expertise includes marketing mix modeling, pricing, customer lifetime value modeling, and assortment optimization
- Risk management, including credit risk modeling, commodity and cash-flow modeling, and asset portfolio modeling
- Operations, such as supply chain network optimization, predictive maintenance analytics, and customer experience analytics
Extensive experience working across more than 20 industries allows us to deliver value to clients regardless of industry sector.
Flexible ways of working
We deliver advanced analytics services either as standalone projects or as part of larger strategic initiatives. Once data models have been developed, refined and proven, our analytics experts can provide periodic model review and refresh as required. Analytics professionals located in McKinsey Knowledge Centers in India and Costa Rica allow us greater flexibility to make sure our clients get exactly what they need. Data models can be hosted either on our clients’ systems or within our own secure environment.