Big Data important growth indicator to McKinsey Asia
McKinsey & Company has laid out an ambitious growth plan in Asia. One of the key drivers to realize this growth lies in services in the area of 'Big Data'. This is what Philippe Mauchard, global head of the 'Solutions' practice of the strategy advisory firm, said in the Asian newspaper The Business Times.
In Singapore McKinsey & Company is busy helping the government gain insights from the deluge of data to serve customers and citizens better. Yet the high demand for 'Big Data' not only stems from the public sector. He points out that McKinsey has been approached by "many large companies in the region" to support them with solving the challenge of mining information from the wealth of data that's available to them. "There is also an important emerging group of mid-tier companies in South-east Asia, especially Singapore, that increasingly need to leverage sophisticated data and analytics based solutions in order to sustain their growth" says Mauchard.
As an example he mentions the telecommunication sector: "Consider, for instance, the fact that Asia is already the leading region for the generation of personal location data simply because so many mobile phones are in use in the region. China alone has more mobile phones in use than in any other country in the world".
McKinsey is helping such customers with "finding the crucial 5 per cent of data which is commercially valuable" says. Next to the use of strategic analyses also deep analytics and IT skills are used.
About Philippe Mauchard
Philippe Mauchard joined McKinsey in 1995 from Mercer Management Consulting. He currently is a partner at the Brussels office and heads McKinsey Solutions, a unit of ~100 dedicated people that leads the firm’s services on the cutting edge between business intelligence and advanced IT technologies.
