Boston Consulting Group (BCG) is a management consulting firm founded in 1963. The firm’s prestige among the Big Three is accompanied by the revenue stats making it the second largest consulting firm in the world. On a basic level, BCG charges client fees in exchange for their expert advice. Many firms do offer implementation services that go beyond the advice stage.
Overall, the BCG strategy around data and analytics attempts to streamline the strategy and implementation process for their client firms . BCG uses expertise to help foster client success in building and scaling their internal capabilities. To do this, they have created specialized groups of talent that can be integrated with the more traditional consultants per client needs. The key groups include: GAMMA, Platinion, Digital Ventures, and Omnia
BCG GAMMA is likely the most robust specialty group offered by the firm. It covers a wide variety of analytic applications such as machine learning, optimization, simulation, natural language processing, and image analytics . Their services help clients build the awareness of their competitive advantages and disadvantages. A case can be made for most companies finding usefulness in this service as the data driven world creeps into all markets. This is especially so in case work that hinges on implementation.
BCG Digital Ventures is more out of the box in terms of traditional consulting services. Founded in 2014, this business unit is an early-stage platform that “partners with companies to quickly invent, launch, scale, and invest in revolutionary businesses” . With a diverse and cross-functional team, they propose to offer deep-tech tools that are essential to business-building.
Competition is a key challenge for BCG as they are not the only firm to build out vigorous data analytics teams. The first layer of competition comes from the long-term competitors such as Bain and McKinsey. However, the competition in the data space will exceed the traditional consulting realm.
A real threat could be evolutionary software that simplifies the big data world for those who are inexperienced. This type of application or software could come from firms like Google, Amazon, or even a private firm we have yet to hear of. Staying ahead of the advancements in this space will be critical to BCG’s ability to continue offering a needed specialty service.