Data science consulting industry is speculated as the next fastest growing industry and companies – large and small – are rushing to grab a piece of the pie. Here are the major categories of players within the industry.
The Management Consulting firms
Management consulting firms like Mckinsey and Boston Consulting Group are aggressively investing in their in-house data labs to build data science capabilities to support their in-house research as well as to provide data science consulting services to their clients.
The Technology Consulting firms
Major technology consulting firms like Accenture and IBM are investing heavily to build data science expertise within their firms. They are mostly leveraging their existing large pool of data architects, data analytics consultants and business intelligence consultants by cross training them on the emerging technologies of data engineering and data science.
Infosys, a leading technology consulting firm announced the merger of their analytics and business intelligence practice in 2015 to form ‘data and analytics’ practice, simply to promote cross training of technologies across these competencies. This trend is followed by several other technology consulting companies.
The Enterprise Software companies
Enterprise software companies like Microsoft, SAP, IBM, Oracle and Teradata are building cutting edge products to help their clients build strong data competencies. These products accelerate the process of building data analytics, data visualizations and data engineering capabilities.
The enterprise software companies typically partner with technology consulting companies to provide a joint proposition for their clients to build their data science competencies.
The Data Science Startups
Despite of several large players within the industry, there is a place for many data science consulting startups who have come up with their own differentiated offering through a product or a platform. These companies have a focus to solve a specific problem within a specific industry, that makes them compelling for clients.