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DOCUMENT DESCRIPTION
Insights are arguably the most important component of a management consulting project. Insights answer the critical question from clients--"so what?" An insight offers a new perspective on an existing issue, situation, or problem.
This presentation defines and teaches how to recognize an insight. It explains how insights are different from assertions, hypotheses, data, analysis, and findings. It also covers approaches to developing insights, as well as potential pitfalls.
There is a group training exercise included at the end.
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Management Consulting Training
Moving from Data to Insights
Form
Hypotheses
Gather Data Analyse Data Find Insights
Develop
Conclusions and
Make
Recommendations
Define the
Issues
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Contents
Insight Generation Overview
Insight Generation Approach
Group Training Exercise
− Briefing & Data
− Model Response
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Insights answer the critical question from clients—“so what?”
Presentation Overview
Insights are arguably the most important component of a management
consulting project. Insights answer the critical question from clients—“so
what?” An insight offers a new perspective on an existing issue, situation, or
problem.
This presentation defines and teaches how to recognize an insight. It explains
how insights are different from assertions, hypotheses, data, analysis, and
findings. It also covers approaches to developing insights, as well as potential
pitfalls.
There is a group training exercise included at the end.
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Insights and recommendations are a result of a structured analysis
process
Management Consulting Problem Solving Process
Form
Hypotheses
Gather Data Analyse Data Find Insights
Develop
Conclusions and
Make
Recommendations
Define the
Issues
So what?—aha,
new thought
What the client
should do
What are the
questions
keeping the
client awake at
night?
Factual
information
gathered to prove
or disprove
hypotheses
Analyse what the
data tells us
Statements that
provide
direction and
structure for the
analysis
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Insights occur when you aggregate findings to achieve a new perspective
Insight Definition
AN INSIGHT IS...
A new perspective on an existing issue, situation or problem:
– Enhances understanding
– Identifies an opportunity
– Indicates a solution
A synthesis and aggregation of results and information from
different sources
The real point where we begin to add value
AN INSIGHT IS NOT...
A re-statement of data, analysis or findings
A hypothesis-driven assertion that has not been proven by
data and analysis
A last thought in your document
An insight is something that makes
you, your client or your manager go
“Aha”
“Aha”
An insight is something that makes you, your client or your manager go “Aha.”
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Insights are clearly different from data and findings
Data vs. Findings vs. Insights
One insight may lead to a further series of “whys” and “so whats” that requires you to
link all data.
DATA
• Market size was $5bn in
1996, $10bn in 1998,
$12bn in 2000
• Player revenue trends
• Product by product
revenue
FINDINGS
• Market growth has
begun to slow
• Market share trends for
each player:
− x has lost share year
on year
• Margins are higher for x
than y as cost has
increased steadily, while
price remains constant
INSIGHTS
• Substitution of new
products is
cannibalizing new
revenue
• Players will not be
competitive unless they
can compete in certain
product segments
Analysis
Why?
So what?
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Contents
Insight Generation Overview
Insight Generation Approach
Group Training Exercise
− Briefing & Data
− Model Response
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Insights typically come from asking “why?” when presented with a finding
Analysis to Insight Process
Analysis Insights
Why?
“Aha”
• Market trends
• Competitive positioning
• Customer perceptions
• Relative cost performance
• Internal capabilities
• Historic trends
• Industry “forces”
• Market discontinuities
• etc.
• Why are they better/worse?
• Why is that
declining/increasing/not
changing?
• Why did they do that?
• Why didn’t this happen?
• Why are these two things
different?
• Why look at it this way?
• Why isn’t this important?
• Why…
• New perspective
• Important result
• Increased understanding
• Better focus
• Key issue
• “Killer finding”
• “Aha”
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Insights do not emerge magically, but through rigorous analysis, combined
with experience
How do I Become Good at Finding Insights?
If you are missing one of these elements, borrow it!
Cognitive Skills Organizational Understanding
Analytical Rigor Situation Experience
• Separating data, assumptions and analysis
to highlight critical issues
• Maintaining a critical focus on inputs and
outputs
• Appreciating industry drivers and
competitive dynamics
• Recognizing similarities and differences
between industries and markets
• Bringing disparate elements together to
“see” a new, creative perspective
• Keeping an open, clear mind to recognize
what is new
• Distilling results down to the critical issues
• Developing a deep knowledge of business
fundamentals
• Recognizing the links and interactions
between components of the client’s value
chain
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We can distinguish three approaches to finding insights
Insight Development Approaches
• Analysis results
• Analysis “Findings”
• Proved or disproved
hypotheses
• Options
Analytic Decision Support Tools
• Well defined, structured, often
data driven approaches
• Insights of a precise nature and
scope produced “automatically”
Team Brainstorming Sessions
• Structured information sharing
and synthesis sessions
• Insights produced through
information sharing and
discussion
Client Workshops
• Structured events facilitated
(strongly) by consultants
• Insights come from results +
client knowledge and experience
1
2
3
• Structured frameworks:
− Comparison models,
matrices, etc.
• Statistical comparison model,
factor analysis, cluster
analysis, etc.
• Strategy team meetings
• Project off-sites
• Informal sessions
• Board/Steering Committee
meetings with analysis results
(with 5–8 clients)
• “Visioning” workshops (with
10–30 clients)
INPUTS APPROACHES EXAMPLES
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“Insights” are the pivotal point of a management consulting project
Data & Analysis vs. Insights & Recommendations
DataData AnalysisAnalysis InsightsInsights RecommendationsRecommendations
“What’s going on” “What to do about it”
• Updates of Purpose, Approach, Findings,
Issues, Next Steps
• Working documents to update the
engagement team and clients
• Logical documents showing conclusions,
how they were reached and
recommendations
• Emphasis on clarity and reasoning (possibly
using an established framework)
PRESENTATION FORMAT
CLIENT INTERACTION
CRITICAL SUCCESS FACTORS
• Sharing information
• Develop mutual understanding
• Building trust in the relationship
• Building buy-in to conclusions
• Persuading client to accept
recommendations
• Hypothesis driven analysis
• Analytical rigor and extensive research
• Precision accuracy in results
• Clear, logical reasoning
• Distillation down to the critical issues
• Synthesis of disparate results/insights
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Follow these rules of thumb when generating insights
Dos and Don’ts of Insight Generation
DOs
• Argue the other side.
• Find 2nd and 3rd answers and evaluate all.
• Structure in space to think:
− Incubation period is critical.
• Think about frameworks up front and at every
point along the way:
− Grouping, Comparison Parameters,
Matrices.
• Set-up formal points to generate insights with
experts and the team:
− Don’t underestimate the value of a third
party.
• Separate insight production and evaluation.
• At the end of each and every data section
answer:
− Top three findings.
− So What and Why for each.
DONTs
• Jumping to a perceived insight based on one
“expert’s” statement or one or two facts.
• Taking an assertion or a hypothesis as a
given and not testing it:
− It will end up as a false insight - which really
is not an insight at all.
• Believing a finding is an insight:
− You need to keep on asking “Why” or “So
What” until you have pushed the finding as
far as possible.
• Not leaving enough time to move to insights
and recommendations.
• Not leveraging a “team” to build insights.
• Believing you won’t add any new ideas.
• Being defensive in brainstorming sessions.
• Being able to understand ‘what’s new’
• Striving too much for perfectionism
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Contents
Insight Generation Overview
Insight Generation Approach
Group Training Exercise
− Briefing & Data
− Model Response
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Briefing
Look at the data given on the following slides
Try to work out what the headlines and kickers for the panels would be
Be as insightful as you can!
Timing:
– Intro 5 mins
– Exercise 30 mins
– Present Back and Review what actually happened 15 mins
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Planning the
Move
Moving In Daily Life Repatriation
Services Provided to Expats by HR Departments
General information
Survival kit
Housing and relocation
Language training
Family training in host
country culture
Government paperwork,
visa, work permits
Language courses
Introduction to expats
Temporary housing
Transportation
Mentor system
Payment of expenses in
host country
Information on new position
Comparing news
while gone
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Germany
4
35,000
13
26,000
10
23,000
73
15,000
Percentage of companies Number of Expatriates
0-20 expats per
company
21-50 expats per
company
51-100 expats per
company
101+ expats per
company
Switzerland
FranceUK
99,000100%
13
70,000
16
30,000
20
35,000
51
7,000
Percentage of companies Number of Expatriates
0-20 expats per
company
21-50 expats per
company
51-100 expats per
company
101+ expats per
company
142,000100%
11
85,00019
60,000
22
45,000
48
21,000
Percentage of companies Number of Expatriates
0-20 expats per
company
21-50 expats per
company
51-100 expats per
company
101+ expats per
company
8
51,000
16
41,000
15
33,000
61
9,000
Percentage of companies Number of Expatriates
0-20 expats per
company
21-50 expats per
company
51-100 expats per
company
101+ expats per
company
201,000100%
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UK Switzerland
EU
Australasia,
Canada,
S.Africa
Africa/ME
Americas,
Asia
Source: Labour Force Survey, Office for National Statistics, UK; Schweizer Bundesamt für Statistik
EU
Australasia,
Canada,
S.Africa
Africa/ME
Americas,
Asia
Rest of
Europe
Rest of
Europe
US and France
are the largest
countries
Germany and
France are the
largest
countries
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Source: Georgia Tech WWW User Survey 1998; International Assignment Survey 1999, Cendant; ERC Centre for International Assignment Management;
Gemini research; Forester Research.
a. In thousand US dollars.
b. Of all Europeans.
Comparison Profiles
DIMENSIONS
EXPATRIATE PROFILE (ALL
EXPATRIATES)
PROFILE OF ONLINE USERS
(EUROPE)
Gender
Female
Male
Female
Male
Family Status
Single
Married
Age/Position
Senior
Management
Others
Internet Usage ~80% 19%b
High
Income
Earners
Family
Middle
Management
Single
Married
> 31y
31–40y
Family
>40
<50
50–100
>100
Incomea
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a. Both interviews and desk research.
BBRS: Bradford & Bingley
Relocation Services
MFI: Morton Fraser
International
CRC: Culture and
Relocation Coaching
SI: Swan International
KD: Karen Deane
Relocation
CR: Corporate Relocations
C: Citibank
Companies not
yet interviewed
KPMG
AA
E&Y
PWC
DLT
Cendant
BBRS
MFI
RSB
KDCRC
CR
Local
tax firms
Local
solicitors
SI
Large Corporations
Employees
Medium Sized Companies &
Employees
Small Size Companies,
Employees and Individuals
C
Single Service
Offer
Full Service Offer
77 relocation
companies in
London and
South East
alone
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Contents
Insight Generation Overview
Insight Generation Approach
Group Training Exercise
− Briefing & Data
− Model Response
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HR departments provide substantial support to employees going to work
abroad
Planning the
Move
Moving In Daily Life Repatriation
Services Provided to Expats by HR Departments
General information
Survival kit
Housing and relocation
Language training
Family training in host
country culture
Government paperwork,
visa, work permits
Language courses
Introduction to expats
Temporary housing
Transportation
Mentor system
Payment of expenses in
host country
Information on new position
Comparing news
while gone
However, this support appears to stop early in the expatriation lifecycle.
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In each of the four largest markets, a few large corporations account for a
large percentage of expatriates
Germany
4
35,000
13
26,000
10
23,000
73
15,000
Percentage of companies Number of Expatriates
0-20 expats per
company
21-50 expats per
company
51-100 expats per
company
101+ expats per
company
Switzerland
FranceUK
99,000100%
13
70,000
16
30,000
20
35,000
51
7,000
Percentage of companies Number of Expatriates
0-20 expats per
company
21-50 expats per
company
51-100 expats per
company
101+ expats per
company
142,000100%
11
85,00019
60,000
22
45,000
48
21,000
Percentage of companies Number of Expatriates
0-20 expats per
company
21-50 expats per
company
51-100 expats per
company
101+ expats per
company
8
51,000
16
41,000
15
33,000
61
9,000
Percentage of companies Number of Expatriates
0-20 expats per
company
21-50 expats per
company
51-100 expats per
company
101+ expats per
company
201,000100%
134,000100%
Could this be ExpatOnline’s target market?
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Most expats are EU citizens in the UK and in Switzerland
UK Switzerland
EU
Australasia,
Canada,
S.Africa
Africa/ME
Americas,
Asia
Source: Labour Force Survey, Office for National Statistics, UK; Schweizer Bundesamt für Statistik
EU
Australasia,
Canada,
S.Africa
Africa/ME
Americas,
Asia
Rest of
Europe
Rest of
Europe
US and France
are the largest
countries
Germany and
France are the
largest
countries
This is very good news if we start to consider our marketing spend!
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The demographic profile of expatriates is similar to that of online users in
Europe
Source: Georgia Tech WWW User Survey 1998; International Assignment Survey 1999, Cendant; ERC Centre for International Assignment Management;
Gemini research; Forester Research.
a. In thousand US dollars.
b. Of all Europeans.
Comparison Profiles
DIMENSIONS
EXPATRIATE PROFILE (ALL
EXPATRIATES)
PROFILE OF ONLINE USERS
(EUROPE)
Gender
Female
Male
Female
Male
Family Status
Single
Married
Age/Position
Senior
Management
Others
Internet Usage ~80% 19%b
High
Income
Earners
Family
Middle
Management
Single
Married
> 31y
31–40y
Family
>40
<50
50–100
>100
Incomea
The expatriate market is likely to react favorably to an online proposition.
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The single service markets and the full service market for large
corporations are crowded
a. Both interviews and desk research.
BBRS: Bradford & Bingley
Relocation Services
MFI: Morton Fraser
International
CRC: Culture and
Relocation Coaching
SI: Swan International
KD: Karen Deane
Relocation
CR: Corporate Relocations
C: Citibank
Companies not
yet interviewed
KPMG
AA
E&Y
PWC
DLT
Cendant
BBRS
MFI
RSB
KDCRC
CR
Local
tax firms
Local
solicitors
SI
Large Corporations
Employees
Medium Sized Companies &
Employees
Small Size Companies,
Employees and Individuals
C
Single Service Offer Full Service Offer
77 relocation
companies in
London and
South East
alone
There seems to be space in providing a full offer to medium-sized companies through to
individuals.
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27. 1
Flevy (www.flevy.com) is the marketplace
for premium documents. These
documents can range from Business
Frameworks to Financial Models to
PowerPoint Templates.
Flevy was founded under the principle that
companies waste a lot of time and money
recreating the same foundational business
documents. Our vision is for Flevy to
become a comprehensive knowledge base
of business documents. All organizations,
from startups to large enterprises, can use
Flevy— whether it's to jumpstart projects, to
find reference or comparison materials, or
just to learn.
Contact Us
Please contact us with any questions you may have
about our company.
• General Inquiries
support@flevy.com
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press@flevy.com
• Billing
billing@flevy.com