Technology and advanced analytics are key to achieving sustainable, profitable growth, but few organizations are able to harness this power. A quarter of companies don’t grow at all, and just one in eight achieve 10 percent growth annually, while only one in 10 have held steady in the S&P 500 with above GDP growth for more than 30 years.
To reverse this trend, a key move leaders need to make is to better tech-enable their organization. This means acquiring and developing the right technology, the right capabilities, and the right talent: those who bring the kind of analytical depth and foresight necessary to turn data into actionable insights.
McKinsey Sciences for Growth helps organizations do just that, bringing together the best tech-enabled capabilities, including more than 1,000 leading global practitioners and an ability to stitch together a comprehensive technology stack to generate impact across strategy, AI-powered insights, and more. Through its distinctive approach and world-class IP, McKinsey Sciences for Growth helps the boldest leaders accelerate their growth ambitions.
“Growth is always a priority, but it remains challenging to achieve,” says McKinsey senior partner Greg Kelly, who leads our Growth, Marketing & Sales Practice. “Developing stronger functional growth capabilities is essential to re-energizing organic growth. The growth leaders that consistently outperform today have tech-enablement at the heart of their functional capabilities.”
“We’re delighted to join forces to bring McKinsey Sciences for Growth to life,” says senior partner Alex Singla, global co-Leader of QuantumBlack, AI by McKinsey. “This enables our clients to unlock the power of AI by drawing on the deep expertise that lies within QuantumBlack, with the deep domain expertise from our Growth, Marketing & Sales colleagues. We can realize unimagined opportunities when we bring together the best technical skills and industry knowledge with AI and machine learning capabilities.”
Already, McKinsey Sciences for Growth has enabled impact for clients across industries by working in areas such as personalization, sales growth, revenue growth management, digital commerce, and predictive analytics.
“The future of growth requires a true at-scale ability to get down to the most granular levels of your business, whether that’s at a customer level, a store level, or a product level,” says McKinsey partner Maura Goldrick. “That’s why it’s so critical to harness analytical horsepower and distinctive intelligence to decision making throughout the entire journey.”
For example, a consumer electronics manufacturer deployed CustomerOne to revamp primary customer interfaces, including creating a real-time customized website experience. The move helped increase total revenue generated through their direct-to-consumer channel from five to 20 percent within 15 months.
“Our experience from helping hundreds of clients drive large, at-scale growth transformations tells us that when you combine strategy, data, technology, and human-led insights, organizations can achieve superior performance and outsized growth,” says senior partner Stephan Zimmermann, a global co-leader of McKinsey Sciences for Growth. “In partnership with McKinsey Digital, we bring the best of our capability-building power from across the firm, including the best and the brightest in AI, digital, operations, and technology.”
In another instance, the team worked with major a healthcare system provider seeking to become more customer-centric to stand up agile teams across digital marketing, journey design, and advanced analytics to develop the necessary capabilities and capture value. By implementing Experience DNA for always-on insights and improving end-to-end consumer journeys, the client was able to achieve a 10 to 15 percent lift in scaled run-rate revenue over the course of the first six months of the transformation.
Developing stronger functional growth capabilities is essential to re-energizing organic growth. The growth leaders that consistently outperform today have tech-enablement at the heart of their functional capabilities.
In addition to fully implementing these offerings and strategies, McKinsey Sciences for Growth empowers organizations to drive sustained growth on their own. The team is investing heavily in its most important asset—talent.
“Our mission is to help our clients thrive in this fast-changing world by bringing the best capabilities together to accelerate holistic impact,” says senior partner Tobias Wachinger, a global co-leader of McKinsey Sciences for Growth. “The heart of what we do is all in service of our clients and their unique needs. We focus on infusing AI-powered insights, predictive analytics, fit-for-growth technology, and a sustainable operating model to take our clients through the entire transformation journey.”