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In the New York office, the industries McKinsey caters to are financial services, health care services, advanced electronics, aerospace and defense, and TMT (technology, media and telecommunications). A few dozen consultants working in technology for the financial service industry are based at the Broadway office.
One solution is to become the authoritative source for a particular kind of information. Some firms have managed it, in healthcare and in other arenas — think of QuintilesIMS as a source of pharmaceutical sales data, Nielsen as the authority on TV viewer habits, and the U.S. Census for information about U.S. demographics.
That’s the research firm IDC’s estimate of the size of the big data market, worldwide, in 2016. trillion , IBM’s estimate of the yearly cost of poor quality data, in the US alone, in 2016. This figure should surprise no one with an interest in big data. But here’s another number: $3.1
According to a 2016 report from the UNEP-hosted International Resource Panel , water demand will outstrip supply by 40% by 2030. For example, sales is the focus of potentially big improvements via new tools that can provide better lead generation, forecasting, and targeting. And demand is increasing.
Point-of-sale (POS) intrusions : Attacks that capture payment data from POS systems. Learn more about the Verizon 2016 Data Breach Investigations Report, and access an executive summary here. Crimeware : Software that can damage or disable computers, including apps that secretly harvest credentials.
.” For example, productivity has grown dramatically in the retail sector since 1990; inflation-adjusted sales per employee have grown by roughly 50%. Economic analysis finds that most of this productivity growth is accounted for by a few companies such as Walmart who used informationtechnology to become much more productive.
Some extremely successful companies have made great use of recommendation engines to boost sales or improve customer satisfaction. Forbes estimates that in 2015 the company brought in $250 million in revenue, and it predicts a 50% increase in 2016. As a machine learning–native company, Stitch Fix bears watching.
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