McLaren F1’s predictive analytics coming to market with KPMG
Formula 1 group McLaren’s in-house predictive analytics will be available for use by other industries as part of an alliance with KPMG.
The group announced the partnership with KPMG just days before the final race of the 2014 F1 season.
The 10-year alliance with the international audit, tax and advisory firm will extend their software and knowledge of split-second decision making to other industries to improve auditing and advisory services for KPMG’s clients.
McLaren F1 founded its own analytics company, McLaren Applied Technologies (MAT), in 2004 to improve car maintenance and speed on the track.
Its services have already been employed by several large manufacturing and oil and gas companies including GlaxoSmithKline, who optimised the production of several of its household brands like Sensodyne toothpaste using McLaren’s resources.
“McLaren has honed sophisticated predictive analytics and technologies that can be applied to many business issues,” said Simon Collins, UK chairman, KPMG. “We believe this specialist knowledge has the power to radically transform audit, improving quality and providing greater insight to management teams, audit committees and investors.
“The same is true of our advisory services, where we believe applying McLaren’s predictive analytics and know-how to, for example, a complex international supply chain, could help our clients make a step change in the service they provide to their customers.“
McLaren’s chairman, Ron Dennis said the partnership would “take our expertise into a whole new market and to continue the rapid growth of McLaren Applied Technologies.”
The F1 team also works with software vendor SAP. It uses SAP Hana and SAP cloud and database software which will be used by all of its growing portfolio.
Margi Murphy, IDG News Service