KPMG has formed a new investment vehicle called KPMG Capital aimed at accelerating innovation in data and analytics.
The idea is that new technologies and products will emerge that will in turn help clients of member firms unlock tangible data value from their own ‘big data’.
KPMG Ireland’s head of management consulting Paul Toner said today the Dublin firm is an active participant in KPMG Capital and he is confident that specific Irish-based projects will be invested in.
“The most successful businesses will be those not merely collecting data, but those that can distill data and translate it into insights,” said KPMG managing partner Shaun Murphy, who is a member of the board of KPMG Capital.
“This new international fund will give our clients access to leading-edge data analytics tools and solutions.”
Using data analytics for maximum effect
KPMG Capital will support technology partnerships, strategic alliances and the recruitment of top talent to create new data and analytics solutions.
Toner said the firm had been talking to major Irish businesses about how to use data and analytics around cost diagnostics and customer insights.
“We are focusing on identifying those areas where customers perceive value and those which can be targeted for cost reduction or automation while not impacting on perceived value,” Toner said.
Big data sign image via Shutterstock
Data and analytics will be the subject of Silicon Republic’s Irish Data Forum on 22 November. For more information and speaker updates, visit the Irish Data Forum website