The Research & Knowledge Benchmark: How Consultancies invest in Research & Knowledge
The Research & Knowledge Benchmark: How Consultancies invest in Research & Knowledge
It is evident that consulting companies are increasingly emphasizing research and knowledge teams to enhance their strategic capabilities. However, how firms choose to expand, organize and structure these teams varies significantly.
In the last 5 years, the R&K teams in most strategy consulting firms have grown in absolute numbers, with McKinsey and BCG having by far the largest R&K teams among the top tier consulting firms.
Defining the Roles: Research vs. Knowledge Teams in Consulting
R&K teams can be classified into 2 main functions, either Research or Knowledge. Researchers are dedicated to increasing the knowledge of an organization, by supporting consulting projects, proposals, and other initiatives with freshly gathered data and added-value insights generation. As for Knowledge teams, they are devoted to capitalizing on the knowledge already existing within an organization, by sharing it and making it available to the right person at the right time.
Defining the Roles: Research vs. Knowledge Teams in Consulting
When it comes to the type of profiles within these teams, R&K professionals are classified into analysts or librarians based on the experience or background of these professionals. We have primarily examined the education and years of experience in the current position as indicators of whether these profiles are librarians or analysts. Librarians typically hold degrees in library science, linguistics, or literature while analysts usually have a background in business or economics. In terms of years of experience in the current job, librarians tend to spend considerably more time at their positions than analysts. We have therefore classified professionals who have spent 5 or more years within their positions as librarians.
How Leading Consulting Firms Structure Their R&K Teams: A Comparative Analysis
Based on our study, we can conclude that business research professionals outnumber knowledge experts in most companies – with McKinsey having the highest number of research professionals among the companies benchmarked. Meanwhile, BCG exceptionally places a strong emphasis on knowledge which is less pronounced in other firms such as Roland Berger and Kearney.
In terms of profiles, McKinsey and BCG are increasingly extending the roles of R&K and relying on analysts for more value-added research while Bain, Oliver Wyman, and (to a lesser degree) Kearney have retained more traditional librarian profiles, primarily focused on gathering and organizing data and research.
Moreover, the study also dedicates a section for the analysis of the Big Four. This is because, despite being historically focused on the fields of accounting, tax, and legal, they are expanding more and more their presence in the strategy consulting area. Booz Allen Hamilton has been analyzed along with the Big four, as a large share of its activity is not strictly strategy consulting
Within the Big Four, EY and Deloitte have the largest R&K teams followed by PWC. KPMG and Booz Allen Hamilton have significantly smaller R&K teams. Also, EY and Deloitte have balanced teams of research and knowledge professionals, while PWC and KPMG make a significant investment in Research capabilities compared to Knowledge.
The Geographical Strategy of R&K Teams Across the Globe
Remarkably, there are more librarians in the big 4 than in strategy consultancies, potentially demonstrating a more traditional approach to research. The knowledge function has more librarian profiles than the research function. The Big Four also choose to locate their R&K teams similarly to strategy consulting, with the USA, India, and Western Europe being the most popular choices.
The Infomineo Research and Knowledge benchmark examines and compares how consulting firms are organizing their knowledge and research functions internally, and where they’ve chosen to locate them globally. The findings and the figures reported in this study are the results of the screening and the analysis performed on ~4,000 LinkedIn profiles.
Maximizing Business Insights: The Infomineo Approach to Research and Knowledge
Infomineo stands out in the realm of Consultancy Research and Knowledge Benchmarking, offering unparalleled expertise across a multitude of industries. Our unique approach, honed over 12 years, enables us to deliver superior insights and strategic analysis, ensuring our clients thrive in the ever-evolving business landscape. Here’s how we make a difference:
- Broad Industry Expertise: Our agnostic approach spans across vital sectors including financial services, healthcare, consumer goods, and automotive. We excel in both private and public sectors thanks to our versatile and comprehensive methodology.
- Innovative Business Research Methodology: Employing our proprietary Brainshoring technique, we tackle complex business challenges by integrating external analysis, enhancing every phase from data identification to creating impactful strategies. This ensures the delivery of actionable insights that integrate flawlessly with consultancy models.
- Seamless Integration with Client Processes: Our Brainshoring model guarantees a smooth collaboration, offering a dedicated team that becomes an extension of your operations. This model emphasizes communication, flexibility, and customization, directly contributing to your strategic decision-making.
- A Cut Above Traditional Outsourcing: Unlike standard business research outsourcing, Infomineo’s Brainshoring model emphasizes insights over deliverables and fosters stable, efficient collaboration through a retainer model. This approach ensures valuable contributions at every research stage and fosters a close, effective partnership with clients.
- ISO 27001 Certification: Our commitment to maintaining the highest standards of information security is affirmed by our ISO 27001 certification, safeguarding client data meticulously.
Infomineo’s unique methodology and industry-wide expertise position it as a leader in supporting consultancies to benchmark research and knowledge, driving success in today’s dynamic market.
