The Boston Consulting Group (BCG) has expanded its BCG Gamma wing into Poland. The firm has ambitious goals for its data science consulting business, with a target to have between 30-40 people working in the practice by the end of next year.
Analysis of large data sets, big data, is today dubbed as the new oil. By leveraging insights from intelligent automation, organisations can unlock previously unrealised value and productivity. This can be either in the back office, including a more streamlined operations, more efficient compliance or a more effective strategic workforce planning, and in client facing functions, such as sales & marketing, who can ramp up commercials through better targeting and pricing strategies. Using techniques such as artificial intelligence or machine learning, companies can better predict customer behaviour and preferences, and support decision-making when planning new products or services.
The trend is lifting spending on data science to record heights. According to one estimate, by Gartner, the value of the data science services market has increased by 22% over the past year, with double digit growth earmarked for the years to come. Against this backdrop, global consulting firm The Boston Consulting Group established its own data science consultancy practice – BCG Gamma – to sit alongside its other practices for among others strategic advisory (BCG), innovation and venturing (BCG Digital Ventures), IT architecture and solutions (BCG Platinion) and design and digital marketing (MAYA, acquired in July 2017).
“Gains from data analytics can be substantial, easily representing 1% to 3% of company turnover,” said Sylvain Duranton, a Paris-based partner at BCG who leads BCG Gamma globally together with Los Angeles-based partner Shervin Khodabandeh. For one client, a telecommunications company, BCG Gamma helped the management team achieve more than $10 billion in savings through a redesigned strategy for its internet broadband build-out, while in another engagement, BCG’s data science consultants helped a retailer increase its profit improvement by 50% from footprint resizing using loyalty data.
BCG Gamma’s most mature practices are in the US in North America, and France, Germany, and the UK in Europe. Now, as the company further pushes for growth in the data science realm, the consultancy has established a practice in Warsaw. “We chose Warsaw mainly because of access to exceptional talents. Poland educates both fine mathematicians and computer engineering specialists, and BCG Gamma needs a combination of these competences,” said a recruiter at BCG in Eastern Europe.
Recruitment is well underway for BCG Gamma in Poland – the firm has set the target of ramping up the workforce to between 30-40 professionals at the end of 2019. The practice is seeking university students with advanced degrees in data science, and experienced professionals with advanced analytics backgrounds at leading corporations in industry or at analytics services firms.