By Rob Starr, Big4.com Content Manager
Stevens Institute of Technology, a premier private research university and Accenture have begun a research and education collaboration to focus on analytics for the financial services industry. John DelSanto, senior managing director for Accenture’s Financial Services group in North America, took some time recently to fill us in on the innovative sourcing strategies needed to bridge the gap between supply and demand.
What’s the history of the relationship between Stevens Institute of Technology and Accenture?
Accenture has long held the Stevens Institute of Technology in high regard as an educational and research institution and we often interact with many of their alumni among our New York-based financial services clients. We are delighted to have the opportunity to collaborate
with the School of Systems and Enterprises on this project.
What kind of work are they collaborating on?
Our collaboration agreement with Stevens extends across four areas: workshops, applied analytics research, analytics delivery and education.
We have developed a unique model that matches our clients’ financial services analytics and big data challenges with Stevens’ professors and Accenture specialists who are experts in this space. We host clients on campus for analytics and big data workshops and then initiate research projects, which are typically 12 months in length. Through this process, we hope to develop new innovations and unlock value by applying academic thinking from other industries to financial services issues, often in ways that have never been done before.
Our analytics delivery center is planned for 2015 and will include an analytics innovation hub that provides the talent, infrastructure and management to help clients accelerate their analytics journey. Our clients will work with Accenture teams and Stevens’ Ph.D students, interns and faculty on incubation, proof of concepts and early stage delivery projects.
In addition, the education component – which will launch in January – will teach the most important and in demand skills required from financial services analytics professionals, as informed by our clients.
What need will it serve?
One of the main big-data challenges organizations are facing globally is the lack of talent to implement and run big data and analytics on an ongoing basis. For the financial services industry, the demand for professionals with credentials in financial services analytics is strong, and it is growing at a rapid pace. Our curriculum was developed to combine the latest academic thinking with industry-proven experience to address evolving analytics needs in the financial services industry, including aspects of financial big data and data visualization.
What part will each partner have?
Accenture and Stevens are collaborating on all aspects of the alliance and include participation from both Stevens and Accenture. The Financial Services Analytics graduate certificate program will be delivered by Stevens’ professors and will feature guest lectures and industry input from Accenture specialists.
What are the bigger takeaways from this announcement?
Accenture and Stevens are creating educational offerings which will bring tailored, applied and much needed analytics skills to the financial services industry.
What are the future plans?
We will continue to work with our financial services clients to understand their needs from both an educational and research perspective and ensure that we can address their needs through collaboration.