As businesses increasingly try to make sense of the mountain of big data available to them, business school graduates skilled in the art of analytics are hot in demand.
From insurance to banking to retail, data analytics is helping to usher in a digital revolution and drive revenues as tools scan millions of pieces of information and pin down practical lessons for companies.
Deloitte Digital, a fast-growing arm of the professional services group, is a darling of this analytics age. Paul Thompson, a partner at the firm, is a big advocate of using data to build up a business.
He believes Deloitte Digital can thrive on analytics as a separate arm of the leading consulting firm. Deloitte has been hiring aggressively for its new digital-driven advisory wing that is based in Clerkenwell, London. The separate operation has a culture akin to a start-up in Shoreditch, London’s tech hotspot.
Paul says the company has been looking into digital opportunities in more traditional sales channels – the next generation of customer service.
But, like a growing number of large listed groups that are trying to innovate, the other skill that has become important to Deloitte Digital is analytics.
“One of the characteristics of digital becoming more mature in organizations is that the customer journey needs to be contextually sensitive,” he says. “It needs to be delivering marketing messages that make sense to the consumer – and that’s driven by analytics.”
It is a skill that successful consultants must master by developing their data capabilities, but which business schools have only just begun to value.
The past two years have seen most top-flight schools indicate a change of attitude and many are ramping up analytics offerings, from Hyderabad to Paris.