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The Transformative Power of AI in Business

Tom Spencer

These systems can suggest relevant products that customers are likely to enjoy. For example, businesses like Netflix, Youtube, Amazon, and Airbnb use AI-powered recommendation systems to suggest movies, videos, products, and rental properties based on a user’s browsing history, past purchases, and revealed preferences based on past behavior.

Data 147
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Asset Management – Industry Overview (Part 1 of 4)

Tom Spencer

Well, asset managers aim to understand client investment objectives and invest client funds in a variety of financial products and asset classes. The asset management industry is a steward of money provided by individuals and institutions, and manages this money in order to meet the unique return objectives of each client.

Industry 113
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Wealth Management 101: The Hidden World of Private Banking

Tom Spencer

The financial services industry comprises firms that operate across a range of sectors: Asset & Wealth Management, Banking & Capital Markets, and Insurance. In simple terms, asset management firms are the ‘manufacturers’ of investment products (e.g., clients can purchase iShares on the RBC Wealth platform).

Banking 78
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Overcoming Data Collection Challenges in Consulting

Tom Spencer

I was assigned to a typical strategy engagement – should client X selling product Y increase sales in market Z? Our hypothesis was that increased sales volume would be associated with increased profitability due to economies of scale. Most companies will have historical data pursuant to the recording protocols of their industry.

Data 78
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From Idea to Business: A Comprehensive Guide

Business Consulting Agency

Market Research : Conduct thorough market research to understand your industry, competitors, and target market. Finances : Secure startup funding through personal savings, loans, investors, or grants. Product or Service Development : Develop your product or service, keeping customer needs in mind.

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The Ups and Downs of a Career in Consulting

Tom Spencer

Without a doubt, a career in the management consulting industry comes with many short- and long-term benefits. This means that you’ll generally get to work with a new team, a new client, possibly in a new industry, on a new project type, every few months. You will be pushed to your limits and learn lots of new things every day.

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What is consulting?

Tom Spencer

Some people also call consulting a ‘talk-job’ – you go to the clients, you talk about what the ideal world scenario would be for a particular project, product or market, and your billable hours are sorted. Sales, Marketing, Production) and secondary functions (e.g. Finance, HR, Supply Chain, ICT, Legal).