#2: Five big numbers for 2017

This is the number of solutions McKinsey says it has developed, recognising the need for ‘new forms of expertise and insight’ and the fact that ‘the line between advisory and execution work has blurred’. We’ve also counted at least seven distinct sub-brands aimed at fostering cross-practice working and at promoting its new approach to the market.

But how much has the consulting paradigm actually changed? Most of the products being developed by consulting firms focus on improving decision-making, through better data and more sophisticated analysis, monitoring performance, and/or coaching people. They’re not designed to revolutionise the way consulting is done but to enhance it, to keep fee rates high rather than bring them down.

Behind this lies indecision, trying to work out whether the productisation of consulting should enhance the traditional consulting process or replace it. The first approach, using products to improve the way consultants gather data, for example, will be better for margins and morale. The second, selling products rather than just people, potentially opens up a much bigger, long-term market, but it also means that consultants will trade places with clients, taking over work the latter has traditionally done. It’ll be consulting, Jim, but not as we know it.