KPMG has launched KPMG Insights Labs, a virtual R&D centre that will serve as a global innovation hub with the aim of incubating and developing data-driven business solutions for KPMG member firms’ clients.
The creation of KPMG Insights Labs is the latest step KPMG has taken in recent months to expand its portfolio of data and analytics (D&A) solutions and services, with new innovative solutions to help member firms’ clients unlock the value of their data.
As the global R&D resource for D&A solutions, which all of KPMG’s member firms worldwide can access, the Insights Labs will undertake R&D for the assets acquired by KPMG Capital as well as for existing KPMG intellectual property.
The Insights Lab, with hub locations in the UK, the US and India, will provide an environment where new D&A applications can be developed, ‘proof of concept’ designs demonstrated and verified and ideas incubated.
Critical areas for enhancing data-driven decision making — and those that will be the first to go through KPMG’s Insights Labs R&D process — will initially include new applications for customer analytics, competitive positioning, regulatory compliance and predictive modelling for clients in financial services, telecommunications, healthcare and life sciences and retail.
The KPMG Insights Labs are modelled on prototype lab environments in which KPMG firms’ professionals work with clients to test data-driven applications and derive the essential insights needed to address a complex business issue.