Everybody is talking about analytics and the ability to use information to better predict or anticipate outcomes of key business decisions. Fortune 500 corporations rely on analytics to make some of their most important decisions regarding people, from how they compensate, reward, and retain top employees; better manage the people aspect of mergers and acquisitions, or plan for major organizational and technological changes.
Today, these same tools are available to organizations of almost any size planning almost any important action or investment whose success or outcome is based on how people respond or engage. The cost of our services is often a small percentage of the investment and an even smaller price to pay in terms of reducing risk and increasing the chances of success.
BCG uses formal statistical and analytical tools and processes that help organizations map what today is increasingly known as the Behavioral DNA of their organizations and those individuals that can affect almost any key initiative. Behavioral DNA refers to the behaviors, attitudes, motivations, etc. that can affect retention, recruitment, mergers and acquisitions, innovation, adoption of technology, the impact of reorganizations, or other actions. The traditional word for an overall organization’s behavioral DNA is culture; the flip side of culture is the behavioral DNA of each individual, team, or department, and how well all of these align.
New analytics tools enable organizations to map the Behavioral DNA of their audiences (employees, distribution partners, customers, etc.) and the organization to forecast how certain people will respond, behave, or act in specific situations with a reasonable degree of confidence. Think of it as a way to scientifically map the current complexion of your organization’s culture and to use that information to better predict how it will respond to any form of change.
Until recently, only large corporations could utilize these tools. Today, new platforms and technologies make these predictive analytical tools available to a far broader range of organizations.
At BCG, we start by listening: What are the objectives you seek to accomplish? What are your pain points? What investment and/or return on investment is anticipated? What data or other information already exists?
From this process, we identify precisely the correct set of tools to provide the analytics that will help you make the right decisions. Unlike other consulting firms, BCG does not sell any pre-packaged analytical tools but draws upon its academic experience to find just the right tool for your situation.
For those companies that seek both analytics and implementation, BCG utilizes a four-step process to help precisely identify what your organization is trying to achieve and what obstacles or opportunities exist that will need to be addressed to ensure success. This process is described in greater detail under Our Approach.
The result is a formal plan that maps out the entire people, process, technology, policy, timeline and return on investment. Organizations can choose to implement the recommendations themselves; use the business plan as the basis for a Request for Proposal; or outsource general management or project management of any or all aspects of the plan.