KPMG sets up new Data & Analytics Insights Lab in Bengaluru

KPMG International has announced the launch of KPMG Insights Lab, a virtual R&D center that will serve as a global innovation hub with the aim to incubate and develop data-driven business solutions for KPMG member firms’ clients.

The creation of KPMG Insights Labs is the latest step which 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.

In November 2013, KPMG International announced the launch of KPMG Capital – a fund created to accelerate innovation in D&A services and solutions.

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, 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.

“KPMG Insight Labs have been created to accelerate the pace of innovation in a secure and controlled environment, helping clients arrive at greater insights more quickly. The new lab in Bengaluru recognizes the capabilities of our Indian data scientists and will act as a ground to build solutions for the Indian and global markets. Indian clients are getting more sophisticated about the use of data and analytics and KPMG lab in Bengaluru will help our clients to experience first and the ‘art of the possible’ and the ‘art of the probable’ in leveraging their data for faster, more insightful decisions,” added Amit Khanna, Data & Analytics lead for KPMG in India.

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.