{"id":25450,"date":"2017-11-15T20:00:18","date_gmt":"2017-11-16T01:00:18","guid":{"rendered":"https:\/\/digital.hbs.edu\/platform-rctom\/submission\/do-you-mind-if-i-take-notes-mckinsey-turns-an-eye-to-digital\/"},"modified":"2017-11-15T20:00:18","modified_gmt":"2017-11-16T01:00:18","slug":"do-you-mind-if-i-take-notes-mckinsey-turns-an-eye-to-digital","status":"publish","type":"hck-submission","link":"https:\/\/d3.harvard.edu\/platform-rctom\/submission\/do-you-mind-if-i-take-notes-mckinsey-turns-an-eye-to-digital\/","title":{"rendered":"Do You Mind If I Take Notes? \u2014 McKinsey Turns an Eye to Digital"},"content":{"rendered":"

\u201cOur mission is to help our clients make distinctive, lasting, and substantial improvements in their performance\u2026<\/em>[<\/a>1]<\/a>\u201d \u00a0 <\/em><\/p>\n

If we assess McKinsey & Company\u2019s mission through a modern lens, it becomes clear that to help business leaders achieve sustainable competitive advantage, data and analytics must drive advisory. The influx of data-driven needs across industries (Figure 1[2]<\/a>) comes with tremendous implications to the traditional consulting model[3]<\/a>:<\/p>\n

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  1. Rapid feedback cycles \u2013 consistent engagement with clients<\/li>\n
  2. Modularized products and services \u2013 a greater need for specialization<\/li>\n
  3. Enter the CTO\/CDO\/CMO \u2013 conversations with a wider client base<\/li>\n
  4. An implementation orientation \u2013 recommendations alone become insufficient value drivers<\/li>\n
  5. Bespoke solutions with a focus on individual consumers<\/li>\n
  6. Data structure and analytics platforms as key competitive levers<\/li>\n<\/ol>\n

    \"\"<\/a><\/p>\n

    The longstanding clients of McKinsey \u2013 Fortune 500 C-Suites \u2013 are feeling the pressure. 71% call themselves \u201ctech companies\u201d. Within technology, they are most interested in mobile computing, cloud computing, and AI\/machine learning, all of which require advanced data analytics capabilities. 73% cite the rapid pace of technological change as their \u201cgreatest fear\u201d[4]<\/a>. Figure 2[5]<\/a> underscores this trend, illustrating global digital consulting spend of $5B in 2016.<\/p>\n

    \u00a0\"\"<\/a><\/strong><\/p>\n

    A Traditional Supply Chain<\/strong><\/p>\n

    The consulting supply chain (Figure 3) is like many others: materials (talent) are sourced from suppliers (leading universities, prestigious firms), a product is developed (bright, resourceful problem-solvers) and delivered to the customer (strategic solutions). In this context, several areas of McKinsey\u2019s supply chain are vulnerable to digital disruption[6]<\/a>:<\/p>\n