Latest news with #McKinsey&Company
Yahoo
4 days ago
- Business
- Yahoo
Consumers see star and numeral ratings in very different ways
This story was originally published on CX Dive. To receive daily news and insights, subscribe to our free daily CX Dive newsletter. Dive Brief: When it comes to product ratings, consumers consistently overestimate stars and underestimate Arabic numerals, according to research published in the Journal of Marketing Research from earlier this year. Researchers found that consumers usually round up when they see an incomplete star attributed, overestimating the star rating. Conversely, consumers tend to focus on the first digit when they see ratings expressed as Arabic numerals, resulting in lower perceived ratings. 'These findings demonstrate that prevalent rating formats are misleading, highlighting the need for new industry standards,' the researchers said. Dive Insight: Many online retailers use stars or numerals to display product ratings, while others use a combination of both. Ratings and reviews can have a heavy influence on purchase decisions. Small product rating increases — as little as 0.2 stars — can boost sales anywhere from 30%-200%, McKinsey & Company research from 2021 found. However, there are no universal industry standards for displaying online product reviews. Still, the U.S. Federal Trade Commission has the power to regulate business conduct under Section 5 of the FTC Act, which prohibits "unfair methods of competition" and "unfair or deceptive acts or practices." The agency has guidelines businesses can follow to avoid running afoul of the law. For the most recent study, researchers conducted 12 experiments to determine whether consumers accurately interpreted product ratings displayed as fractional star ratings (i.e., partially filled-in stars) or numerals (i.e., 3.5) and found neither method was effective. Researchers, however, did find that numerals may be more familiar and easier for consumers to interpret. 'Using star ratings instead of Arabic numeral ratings may boost consumer perceptions of product quality, potentially leading to higher sales conversion rates, decreased cart abandonment, and increased product expectations,' the study said. That said, when organizations display stars and numerals, consumers primarily focus on the numbers. Based on the study's results, the researchers recommend that e-commerce retailers and platforms use visually complete stars rather than partially filled-in stars to display product ratings because they are less likely to be misinterpreted by consumers.
Channel Post MEA
4 days ago
- Business
- Channel Post MEA
NETSCOUT Adaptive Threat Analytics Enhances Incident Response
NETSCOUT SYSTEMS has announced Adaptive Threat Analytics, a new enhancement to its Omnis Cyber Intelligence Network Detection and Response (NDR) solution, designed to improve incident response and reduce risk. Adaptive Threat Analytics enables security teams to investigate, hunt, and respond to cyber threats more rapidly. Cybersecurity professionals face a challenge in the race against time to detect and respond appropriately to cyber threats before it is too late. Alert fatigue, increasing alert volume, fragmented visibility from siloed tools, and cunning AI-enabled adversaries create a compelling need for a faster and more effective response plan. McKinsey & Company noted last year that despite a decline in response time to cyber-related risks in recent years, organizations still take an average of 73 days to contain an incident. In the threat detection and incident response process, comprehensive north-south and east-west network visibility plays a critical role in all phases, but none more so than the 'Analyze' phase between 'Detection' and 'Response.' Adaptive Threat Analytics utilizes continuous network packet capture and local storage of metadata and packets independent of detections, built-in packet decodes, and a flexible ad hoc querying language, enabling more rapid threat investigation and proactive hunting. This provides SOC analysts with the specific knowledge needed to determine and execute the proper response more efficiently. 'Network environments continue to become more disparate and complex. Bad actors exploit this broadened attack surface, making it difficult for security teams to respond quickly and accurately,' said John Grady, principal analyst, cybersecurity, at Enterprise Strategy Group. Due to this, continuous, unified, packet-based visibility into north-south and east-west traffic has become essential for effective and efficient threat detection and incident response.' Omnis Cyber Intelligence's AI-driven correlation stitches disparate events into cohesive, high-fidelity incidents, providing a holistic, actionable view of the entire attack chain. It delivers superior scalability and cost-effective NDR capabilities across complex IT environments and easily integrates into your cybersecurity ecosystems, such as your SIEM, SOAR, or XDR. 'Security teams often lack the specific knowledge to understand exactly what happened to be able to choose the best response,' stated Jerry Mancini, senior director, Office of the CTO, NETSCOUT. 'Omnis Cyber Intelligence with Adaptive Threat Analytics provides 'big picture' data before, during, and after an event that helps teams and organizations move from triage uncertainty and tuning to specific knowledge essential for reducing the mean time to resolution.'
Time of India
6 days ago
- Automotive
- Time of India
Beyond Vision: Why Radar is the Gamechanger for Autonomous Driving in India
The article is authored by Hitesh Garg, VP and India MD, NXP Semiconductors. India is at a crucial point in its journey toward autonomous mobility with a vision of obtaining full autonomy, which is still on the horizon, but the groundwork is being laid with ADAS becoming more prevalent in mid-range and premium vehicles. A recent report by McKinsey & Company estimates that by 2030, up to 20–30% of new cars sold in India could come with at least Level 2 autonomy , including features like adaptive cruise control and lane-keeping assistance. The government's push through policies like the PLI scheme for automotive and auto components is further creating a fertile ground for this transformation. As the sector evolves, vision-based systems, while powerful face critical limitations in real-world conditions. Enter radar: a technology that is proving indispensable in ensuring safety, precision, and reliability, especially in India's complicated driving environments. Radar in the Real World: Where Vision Falls Short by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like American Investor Warren Buffett Recommends: 5 Books For Turning Your Life Around Blinkist: Warren Buffett's Reading List Undo Unlike cameras and LiDAR, which rely heavily on visual data, radar operates on the principle of electromagnetic wave reflection. This allows it to "see" through dense fog, heavy rainfall, pitch darkness, and even dust, scenarios that are all too common across India's varied geographies. Since India's traffic isn't just chaotic; it's also unpredictable, the traditional vision systems can get overwhelmed by the diversity of movement patterns and low-contrast situations. Therefore, Radar systems, with their capability to detect objects up to several hundred meters away, and their resilience in low-visibility conditions, become important allies in enhancing road safety. The Technology Within: Making Radar Affordable and Scalable Further to this development, a new generation of radar microcontrollers are designed specifically for ADAS applications. One such chip is the S32R47, a 32-bit radar processor built on 16 nm FinFET (Fin Field-Effect Transistors) technology. It integrates high-performance signal processing capabilities with multi-core compute, enabling denser point cloud output and enhanced algorithms that enable next-generation driving automation systems from Level 2+ up to Level 4. What sets this chip apart is its ability to deliver imaging radar performance at scale, , alongside improved system cost and power efficiency. The cost efficiency makes it possible to accelerate the roll-out of 4D imaging Radar across all regionsThe S32R47 supports 4D imaging radar, enabling vehicles to accurately detect, classify and track objects, whether they are small or large, still or moving, that are relevant for the vehicle to make driving decisions, It also creates a detailed, real-time map of the vehicle's surroundings. For standard front and corner radar applications, NXP was first to introduce a radar one-chip SoC (System-on-Chip) built on 28nm RFCMOS technology, the SAF85xx, enabling implementation of NCAP (New Car Assessment Programme) features, including automated emergency braking and blind-spot detection. It is comprised of a highly integrated RF front-end and a multi-core radar processor. By combining standard or imaging radar with vision systems, manufacturers can create sensor fusion architectures that are scalable, cost-effective and reliable. This makes autonomy more accessible, for both mass-market vehicles and high-end models. Challenges and the Road Ahead Implementing radar-based systems comes with its own set of hurdles. One major challenge is spectrum allocation, as automotive radar operates in the 76–81 GHz band and requires interference-free frequency access to function optimally. Policy-level clarity and dedicated spectrum for automotive radar will be critical to ensure consistent performance in urban and highway scenarios. Another barrier is the lack of indigenous manufacturing for key radar components such as antennas, RF front ends, and MMICs. To overcome this, India needs a focused push toward localizing component production through technology transfers, public-private partnerships, and startup incubators focused on automotive semiconductors. Software also presents a complex challenge. Radar systems must be trained on Indian traffic patterns and road behavior, which can differ significantly from global datasets. Tackling this requires creating large-scale, localized radar datasets and simulation environments to fine-tune performance under diverse Indian driving conditions—from congested city roads to high-speed expressways. Encouragingly, progress is already underway. Global OEMs are investing in India-based R&D hubs, local suppliers are ramping up radar module production, and the use of advanced simulation and testing platforms is accelerating product readiness for Indian conditions. Conclusion The road to autonomous driving in India will not be paved with just vision, it will require the invisible clarity that radar provides. As we move toward a future where safety, accessibility, and scalability are paramount, radar technology emerges not just as a complementary component but as a foundational pillar of that vision. To unlock the full potential of autonomy in India, we must go beyond vision, and radar is showing us the way. Discover everything about the automotive world at Times of India .
Time of India
15-07-2025
- Business
- Time of India
AI one of the biggest opportunities ahead
Academy Empower your mind, elevate your skills AI Geopolitics and artificial intelligence are the two biggest themes among clients of consulting firms , according to Asutosh Padhi , global leader of firm strategy at McKinsey & Company But despite the hype around AI, what remains to be seen in early adopters is tangible on-ground impact, which 'is still a work in progress', Padhi told ET in an exclusive interview. 'With AI, companies are still in the very early stages of adoption. Maybe 10% of companies are starting to show signs of AI impacting the P&L. I've heard CEOs say, 'We see AI everywhere—except in the bottom line'. That sums up where most businesses are today,' he consultant said one of the CEOs he spoke with recently told him about the real impact of AI: 'Analysis will become easier, but strategy will become harder'.Currently, there's a race among consulting firms to embed AI across their workflows and make it an integral part of service delivery. McKinsey & Company has weathered many waves of change in its century-long journey, but none as disruptive or thrilling as artificial intelligence.'We see AI as one of the biggest opportunities ahead for McKinsey,' said Padhi, who is also a member of McKinsey's Shareholders a time when companies are racing to implement AI across their operations, consulting firms like McKinsey have been among the earliest and most aggressive adopters, rivalling even tech said the firm is focused on getting the right mix of AI capabilities and human judgment to create real-world impact.'Today at McKinsey, we have around 11,000 AI agents working alongside our 40,000 people. These tools are shortening learning curves, making knowledge more accessible, and speeding up certain types of analysis,' he said. 'But it's a bit like a plane taxiing on a runway. The AI can help you gather momentum, get moving. But to lift off and actually reach your destination, you still need pilots. You still need human judgment, creativity, and leadership.'On the client side too, it's clear that AI tops the boardroom believes companies must be clear on their business objectives—what Padhi calls a 'value creation thesis'—to be AI-ready. 'A CEO should ask: 'Where are we headed over the next five years?' Then, determine how AI can accelerate that journey. This could involve AI-powered product development, customer acquisition, cross-selling, or pricing optimisation,' he said.'But true readiness isn't about scattered experimentation. It's about choosing one high-impact, business-critical problem and solving it end-to-end with AI. That's where meaningful learning, momentum, and scale happen.'Talking about how consulting will evolve over the next decade, Padhi said the industry will undergo three major shifts: deeper tech integration across all functions, a shakeout where only firms with truly differentiated strengths survive, and a rise in strategic partnerships between consulting and tech players to deliver deep impact that no single firm can achieve itself is sharpening its AI edge, said Padhi.'First, we've built our own AI platform called Lilli, trained on McKinsey knowledge, which now sees over 95% usage. Whether it's prepping for a C-suite conversation, ramping up on an industry, or exploring a new function, Lilli helps people do it faster and better. Second, AI is baked into training from day one, regardless of role—even senior partners go through capability-building. Third, we've identified about 25 global 'client lighthouses' where our best people use accelerators—repeatable software assets—to deliver more impact, faster,' he said.
Business Insider
14-07-2025
- Business
- Business Insider
Meet the leaders of MBB, the consulting giants advising the world's most powerful CEOs
You might not know their names, but they likely have the ear of many powerful CEOs. They're the leaders of what are widely considered the most prestigious strategy consulting firms: McKinsey & Company, Bain & Company, and Boston Consulting Group, which are collectively referred to as the Big 3, or MBB. MBB firms are often tough places to land a job, and their consultants are some of the most sought-after in the industry. They're the people tech giants like Microsoft, Amazon, and Apple — as well as government agencies — turn to for advice on things like mergers and acquisitions, business strategy, and AI adoption. MBB consultants have also gone on to lead some of the world's biggest companies. So, who's leading the nearly hundred thousand employees across these influential firms? Here's a look at the leaders at McKinsey, Bain, and BCG. McKinsey — Bob Sternfels Bob Sternfels is the global managing partner and chair of the board of directors at McKinsey, which is headquartered in New York City and has offices around the world. The firm employs about 40,000 people. Senior partners first elected Sternfels in 2021 and re-elected him to a second three-year term in 2024. Sternfels grew up in California's Central Valley and has worked at McKinsey since 1994, when he joined the San Francisco office. Prior to becoming global managing partner, he led McKinsey's client capabilities around the world. Before that, he ran the operations practice for the Americas and the private equity and principal investors practice globally. He studied economics and history at Stanford University, where he also played Division I varsity water polo. Sternfels has said on several occasions that his sports background has influenced his leadership style. He got his master's in politics, philosophy, and economics at the University of Oxford, where he was a Rhodes Scholar. Sternfels recently told Business Insider that humor and vulnerability are some of his key leadership tools. He also said he likes to take small groups on walks when visiting McKinsey offices because it can help folks open up. "A little levity — a joke at your own expense, a lighthearted moment — can go a long way toward building trust, breaking down barriers, and democratizing the team room," he said. When he was elected global managing partner, the firm said Sternfels was often described as organized, proactive, and a systems thinker. Under his leadership, McKinsey has navigated the AI revolution, launching QuantumBlack, the firm's AI consulting arm. During his tenure, McKinsey has also faced scrutiny for earlier advising Purdue Pharma on how to boost sales of OxyContin. Sternfels testified before Congress in 2022, and the firm has paid about $1.6 billion in recent years to settle legal claims. McKinsey has also recently reduced its staff by 10%, BI reported in May. The firm said at the time that the reorganization was in part due to AI driving new levels of efficiency and that it planned to hire thousands of new consultants in 2025. Bain & Company — Christophe De Vusser Christophe De Vusser is the worldwide managing partner, CEO, and chairman of Bain & Company, which is based in Boston and has about 19,000 employees globally. The company was founded in 1973. Before taking on the role in July 2024 and moving to New York, De Vusser was a partner based in Brussels, where he led Bain's private equity practice for Europe, the Middle East, and Africa. De Vusser is the first European to hold the role of worldwide managing partner and CEO, the company said in a 2024 press release. De Vusser, who first joined Bain in 2000, began his career at the consumer products giant Procter & Gamble, maker of Tide detergent and Crest toothpaste. De Vusser has master's degrees in civil engineering and multilingual business communication from the University of Ghent, according to Bain. De Vusser's rise to the top role comes as the firm's business is evolving because of tech advances. In December, Bain said tech and "AI-enabled revenue" accounted for 30% of the company's business in 2024. Bain expects that revenue to climb to 50% in the coming years. In a Bain podcast, De Vusser said the firm's clients are grappling with massive amounts of change, including around artificial intelligence. It's a technology, he said, that's still in its early days. "It will continue to mature at immense speeds, we believe, in the coming decades," he said on the podcast. De Vusser has also written about AI. In a recent LinkedIn post, he pointed to Bain research that found fewer than 20% of companies had "meaningfully scaled" generative AI. The reason, he said, is that many organizations tend to view AI "primarily as a technology initiative rather than using it as a catalyst to fundamentally reimagine their business." For organizations to get it right, De Vusser wrote, they need to simplify key processes, use technology so that it fits with strategic goals, and enable workers to use AI. Boston Consulting Group — Christoph Schweizer BCG CEO Christoph Schweizer described his leadership style in a video produced by the company: "Values-led, empathetic, transparent, curious," he says. The firm elected Schweizer for a second term this year. BCG says its reelection process is "unique." All 1,500 managing directors and partners have an equal vote when choosing a CEO. Schweizer, who first became CEO in 2021, joined BCG in 1997, according to his biography on the firm's website. He holds an MBA from the University of Texas at Austin's McCombs School of Business and a Bachelor's degree from the WHU Otto Beisheim School of Management in Germany. During his tenure, BCG has grown in several areas, including the firm's investments in AI — which accounted for bout 20% of the firm's total revenue in 2024 and are expected to grow this year, according to a press release from BCG. Schweizer has also navigated some controversies during his tenure, including two recent projects related to the Gaza conflict. BCG backed out of a multimillion-dollar American-Israeli project to deliver aid in Gaza that was marked by violence. And two senior BCG leaders were demoted for their role in another project that modeled the potential cost of relocating Palestinians from the territory. One of the firm's biggest challenges moving forward, Schweizer says in the company interview, will be helping clients embed AI. "To seize the opportunity, our clients need to fundamentally redefine operating models, value chains, decision-making, and end-to-end processes, while protecting themselves from associated risks, such as info security," he said. Another major focus for BCG is sustainability, he said. "Companies and governments will have to get serious about decarbonization extremely fast: setting the right targets, reduction mechanisms, metrics, and enforcement," Schweizer said.
