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Meet the New Advertising Agency: Consulting Firms - WSJ
By Lara O’Reilly
June 18, 2018

Competition in the advertising industry used to mean little more than Madison Avenue agencies vying with each other for business.

Now an agency’s competitors include Silicon Valley giants such as Alphabet Inc.’s Google and Facebook Inc., who are cutting out the middleman and working directly with advertisers. Meanwhile, a growing number of ad-agency clients are building in-house advertising capabilities. And consulting firms including Accenture , ACN -0.25% Deloitte and PricewaterhouseCoopers have been bolstering the services they offer clients by buying up ad agencies and design firms that craft things like apps, websites, events and even products.

Accenture Interactive has the largest marketing-services business among consulting firms. Its revenue increased 35% last year to $6.5 billion, and it has been ranked as the leading digital advertising network world-wide by Ad Age three years in a row.
Accenture  advertising_agencies  advertising  CMOs  management_consulting  marketing 
june 2018 by jerryking
Technology has upended the world’s advertising giants - Mad men adrift
March 31st, 2018 | The Economist |

The world’s advertising giants are struggling to adapt to a landscape suddenly dominated by the duopoly of Google and Facebook. Some of their biggest clients, such as Procter & Gamble (P&G) and Unilever, are also being disrupted, in their case by smaller online brands and by Amazon. They are cutting spending on advertising services, and also building more capabilities in-house. Consultancies with digital expertise such as Deloitte and Accenture are competing with agencies, arguing that they know how to connect with consumers better, and more cheaply, using data, machine learning and app design.......This month Marc Pritchard, chief brand officer of P&G, criticised their (i.e. the ad giants) model as a “Mad Men” operation that is “archaic” and overly complex in an era when campaigns and ads need to be designed and refined quickly across lots of platforms.

Technological forces are buffeting this model.

(1) The first big challenge is disintermediation. Despite the growing backlash against the tech giants, Google and Facebook make it easy for firms big and small to advertise on their platforms and across the internet via their powerful ad networks.
(2) The second headache is the rise of ad-free content for consumers, especially on Netflix, and the corresponding disruption of ad-supported television, which has declining viewership globally.
(3) Third, Amazon’s e-commerce might, and the growing clout of internet-era direct-to-consumer upstarts, have weakened the distribution muscle and pricing power of the advertising giants’ biggest clients.....cost discipline among clients is driven partly by the influence of thrifty private-equity investors like 3G, the Brazilian owner of AB InBev, the world’s largest brewer......Sir Martin argues that the budgetary pressures that have forced his clients to cut back on advertising are a cyclical problem, not like the structural challenges posed by technological disruption.

In private, however, a senior executive at a rival ad-holding firm rejects much of this optimism. Technological disruption and disintermediation, he says, will only deepen. The efficiency of targeted digital ads means companies can spend less for the same outcome in branding. ....The advertising firms are responding by hiring away talent, acquiring businesses (in 2015 Publicis bought Sapient, a digital consultancy, for $3.7bn) and gradually changing how they make money. Their plans mostly boil down to two things: investing in digital services and consolidating their collections of businesses so that they can provide a range of services to one client more cheaply under one account.
advertising  economics  marketing  advertising_agencies  Martin_Sorrell  digital_strategies  WPP  Google  Facebook  Amazon  competitive_landscape  P&G  Unilever  disruption  Deloitte  Accenture  Publicis  Omnicom  via:sparkey  ad-tech  programmatic  direct-to-consumer 
april 2018 by jerryking
Explosion in data ushers in new high-tech era.pdf
December 5, 2016 | Financial Times | Ian Whylie.

However, one of the consequences of the introduction of AI into consulting will be greater clarification of consulting methodologies, predicts Harvey Lewis, Deloitte's UK artificial intelligence lead in technology consulting. There will be repeatable, common approaches that are supported by machines, and then a class of essentially human approaches for dealing with more varied, wide-ranging and uncertain problems........However, AI could also have a significant impact on the way strategy consultants do their job.

“Consulting firms have a lot of intellectual property locked up inside their consultants’ heads, which, if codified and converted into algorithms, can be used by computers instead,” he says. “This will allow computers to work on the repeatable consulting tasks by following prescribed methodologies, while the human consultants are freed to work on those projects where inputs, outputs and outcomes are more uncertain or which require greater creativity, subjectivity, social interaction and perceptiveness or human judgment.”

Clients want us to arrive, ready to load in their data, and provide insights on the first day of the project
Paul Daugherty. If consulting can be codified then the cost of performing certain types of consulting work is likely to fall, says Mr Lewis. This means that consulting can be offered to more organisations, such as start-ups, small and medium enterprises and charities that might not previously have been able to afford consulting services.

“The days of old-style consulting, where the work was centred around a bunch of people mulling over a PowerPoint presentation and analysis for the client, are either dead or dying fast,” says Mr Daugherty. “Increasingly, strategy consulting is moving to fast-paced database analysis, supported by machine learning. Clients will want us to arrive, ready to load in their data, understand the situation and particular dynamics of their business and provide insights on the first day of the project.”
Accenture  artificial_intelligence  automation  data  fast-paced  insights  machine_learning  management_consulting  PowerPoint  situational_awareness  virtual_agents 
april 2017 by jerryking
How to Avoid the Innovation Death Spiral | Innovation Management
By: Wouter Koetzier

Consider this all too familiar scenario: Company X’s new products developed and launched with great expectations, yield disappointing results. Yet, these products continue to languish in the market, draining management attention, advertising budgets, manufacturing capacity, warehouse space and back office systems. Wouter Koetzier explores how to avoid the innovation death spiral....
Incremental innovations play a role in defending a company’s baseline against competition, rather than offering customers superior benefits or creating additional demand for its products.
Platform innovations drive some market growth (often due to premium pricing rather than expanded volume), but their main function is to increase the innovator’s market share by giving customers a reason to switch from a competitor’s brand.
Breakthrough innovations create a new market that the innovator can dominate for some time by delivering new benefits to customers. Contrary to conventional wisdom, breakthrough innovations typically aren’t based upon major technological inventions; rather, they often harness existing technology in novel ways, such as Apple’s iPad.......A recent Accenture analysis of 10 large players in the global foods industry over a three-year period demonstrates the strategic costs of failure to innovate successfully. Notably, the study found little correlation between R&D spending and revenue growth. For instance, a company launching more products than their competitors actually saw less organic revenue growth. That’s because the company made only incremental innovations, while its competitors launched a balanced portfolio of incremental, platform and breakthrough innovations that were perceived by the market as adding value.
attrition_rates  innovation  howto  life_cycle  portfolios  Accenture  breakthroughs  platforms  LBMA  Mondelez  product_development  new_products  product_launches  kill_rates  incrementalism  R&D  taxonomy  disappointment  downward_spirals  baselines  marginal_improvements  correlations  moonshots 
march 2016 by jerryking
Start-Ups Are Mining Hyperlocal Information for Global Insights - NYTimes.com
November 10, 2013 | WSJ | By QUENTIN HARDY

By analyzing the photos of prices and the placement of everyday items like piles of tomatoes and bottles of shampoo and matching that to other data, Premise is building a real-time inflation index to sell to companies and Wall Street traders, who are hungry for insightful data.... Collecting data from all sorts of odd places and analyzing it much faster than was possible even a couple of years ago has become one of the hottest areas of the technology industry. The idea is simple: With all that processing power and a little creativity, researchers should be able to find novel patterns and relationships among different kinds of information.

For the last few years, insiders have been calling this sort of analysis Big Data. Now Big Data is evolving, becoming more “hyper” and including all sorts of sources. Start-ups like Premise and ClearStory Data, as well as larger companies like General Electric, are getting into the act....General Electric, for example, which has over 200 sensors in a single jet engine, has worked with Accenture to build a business analyzing aircraft performance the moment the jet lands. G.E. also has software that looks at data collected from 100 places on a turbine every second, and combines it with power demand, weather forecasts and labor costs to plot maintenance schedules.
start_ups  data  data_driven  data_mining  data_scientists  inflation  indices  massive_data_sets  hyperlocal  Premise  Accenture  GE  ClearStory  real-time  insights  Quentin_Hardy  pattern_recognition  photography  sensors  maintenance  industrial_Internet  small_data 
november 2013 by jerryking
Corner Office - William D. Green of Accenture Values 3 Rules for Success
November 21, 2009 |NYTimes.com| This interview with William D.
Green, chairman and C.E.O. of Accenture, was conducted and condensed by
Adam Bryant. There are three things that matter. The 1st is competence
— just being good at what you do, whatever it is, and focusing on the
job you have, not on the job you think you want to have. The 2nd one is
confidence. People want to know what you think. So you have to have
enough desirable self-confidence to articulate a point of view. The 3rd
thing is caring. Nothing today is about one individual. This is all
about the team, and in the end, this is about giving a damn about your
customers, your company, the people around you, and recognizing that the
people around you are the ones who make you look good.
CEOs  rules_of_the_game  Accenture  self-confidence  competence  ksfs  independent_viewpoints  serving_others 
november 2009 by jerryking

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