The challenge
Our world is changing at breakneck speed. Technical progress and its effects are hardly tangible for people and companies. Too much news becomes relevant to us in a short time in many areas. Despite news tickers, automatic status reports and constant glances at our smartphones, we often do not have the feeling that we are aware of everything that is relevant.
The challenge is to identify topics in the data generated daily, to assess them according to relevance and to make them useful for one's own company. In order to recognise risks at an early stage and to be able to seize opportunities of technological developments, data-driven decision support is needed. Only in this way can relevant trends, technologies and use cases for the development of concrete action plans and roadmaps be recognised at an early stage from the large amount of potentially interesting data.
The solution
With the services of ResearchCloud 2.0, we make it possible to analyse information from publicly accessible online sources. Machine learning techniques are used to identify themes, detect weak signals and condense them into trends. Relevant data sources are identified and potentially relevant data points are integrated into a data model. Natural Language Processing (NLP) methods are then used to automatically identify themes and trends in the data.
Andreas Fachinger
Partner, Consulting, Lighthouse Germany – Center of Excellence for Data & Analytics
KPMG AG Wirtschaftsprüfungsgesellschaft
Based on the question and the client's perspective, relevant search fields are defined in a keyword corpus. Based on this corpus, pre-trained neural networks assess the relevance of the identified topics and trends for the respective question. By analysing the tonality, it is also possible to automatically calculate whether the respective topics are positively or negatively charged. The results are then curated by technical experts and visualised, for example, as a trend dashboard or management presentation. Based on this, opportunities and risks can be evaluated for the development of growth and risk strategies, developed into relevant use cases taking into account global market dynamics and thus made usable for our clients.
KPMG ResearchCloud 2.0 represents a solution ecosystem. In the area of use case identification, concrete questions are used to identify growth potentials of topics and trends in relevant areas and to define suitable use cases. In the area of trend scouting and trend monitoring, the relationships between the identified topics and trends can be calculated and curated. The area of Trend Forecasting deals with determining trend developments with the help of time series models along various KPIs such as patent publications. In the area of Threat Identification, risks can be analysed that arise, for example, due to changes in regulations or the appearance of new competitors. The Competitor Analysis area deals with the influence of relevant competitors within the industry and, through targeted benchmarking, defines strategic action initiatives that will help to remain competitive in the future.
KPMG ResearchCloud 2.0 supports clients in identifying opportunities and risks at an early stage through the interplay of big data analytics and expert knowledge, maintaining an overview of market dynamics and creating value from insights.