KPMG International has announced the formation of KPMG Capital, an investment fund created to accelerate innovation in data and analytics (D&A) that will help clients of member firms unlock tangible value of their big data.
KPMG Capital will support technology partnerships, strategic alliances and the recruitment of top talent to create new D&A solutions. With these capabilities, KPMG member firms will help clients solve critical business challenges in such areas as new revenue streams, risk management and cost optimisation.
The use of D&A has become a critical business priority as companies try to derive value from the vast amounts of data now available to them. A KPMG survey of business leaders found that while 69 per cent see D&A as strategically important to their current growth plans, 96 per cent believe their company is not currently using D&A effectively.
Investment will be made in a number of critical business areas, including enhancing business flexibility; finance; regulation and compliance; improving workforce productivity; and customer and revenue growth. KPMG Capital will work to develop solutions that will focus on growth sectors such as healthcare, financial services, energy and telecommunications.