Analyzing large data sets--so-called big data--will become a key basis of competition, underpinning new waves of productivity growth, innovation, and consumer surplus as long as the right policies and enablers are in place. Research by the McKinsey Global Institute and McKinsey's Business Technology Office examines the state of digital data and documents the significant value that can potentially be unlocked. Big data will help to create new growth opportunities and entirely new categories of companies. Many of these will be companies that sit in the middle of large information flows where data about products and services, buyers and suppliers, consumer preferences and intent can be captured and analyzed.

Big data: The next frontier for innovation, competition, and productivity

Business & Money

Manyika, James

Global Institute, McKinsey

Chui, Michael

Management & Leadership

McKinsey Global Institute

Latin America is the most urbanized region in the developing world. The region’s 198 large cities (with 200,000 or more inhabitants) together contribute over 60 percent of GDP today; the ten largest cities alone generate half of that output. This new research, conducted by the McKinsey Global Institute, finds that cities will be critical to the region’s economic performance, but Latin America has already reaped the easy gains from urbanization. Many of the largest cities are grappling with traffic gridlock, housing shortages, and pollution, all symptoms of diseconomies of scale. Action to reform and develop not only these cities but rapidly growing medium-sized cities is urgent if Latin America is to create the more productive jobs in the formal economy to meet the aspirations of today’s young workforce. The region has only a narrow window of demographic opportunity—by the second half of this century, the region will see dependency ratios rising. The region could grow old before it becomes rich.

Building globally competitive cities: The key to Latin American growth

Dobbs, Richard

Cadena, Andres

Remes, Jaana

Roxburgh, Charles

Elstrodt, Heinz-Peter

Chaia, Alberto

Restrepo, Alejandra

Human Resources

The McKinsey Global Institute identities 12 rapidly advancing technology areas that have potential for economic disruption between now and 2025.

Disruptive technologies: Advances that will transform life, business, and the global economy

Buguin, Jacques

Bisson, Peter

Marrs, Alex

Education & Reference

Our intuition on how the world works could well be wrong. We are surprised when new competitors burst on the scene, or businesses protected by large and deep moats find their defenses easily breached, or vast new markets are conjured from nothing. Trend lines resemble saw-tooth mountain ridges. The world not only feels different. The data tell us it is different. Based on years of research by the directors of the McKinsey Global Institute, No Ordinary Disruption: The Four Forces Breaking all the Trends is a timely and important analysis of how we need to reset our intuition as a result of four forces colliding and transforming the global economy: the rise of emerging markets, the accelerating impact of technology on the natural forces of market competition, an aging world population, and accelerating flows of trade, capital and people. Our intuitions formed during a uniquely benign period for the world economy—often termed the Great Moderation. Asset prices were rising, cost of capital was falling, labour and resources were abundant, and generation after generation was growing up more prosperous than their parents. But the Great Moderation has gone. The cost of capital may rise. The price of everything from grain to steel may become more volatile. The world's labor force could shrink. Individuals, particularly those with low job skills, are at risk of growing up poorer than their parents. What sets No Ordinary Disruption apart is depth of analysis combined with lively writing informed by surprising, memorable insights that enable us to quickly grasp the disruptive forces at work. For evidence of the shift to emerging markets, consider the startling fact that, by 2025, a single regional city in China—Tianjin—will have a GDP equal to that of the Sweden, of that, in the decades ahead, half of the world's economic growth will come from 440 cities including Kumasi in Ghana or Santa Carina in Brazil that most executives today would be hard-pressed to locate on a map. What we are now seeing is no ordinary disruption but the new facts of business life— facts that require executives and leaders at all levels to reset their operating assumptions and management intuition.

No Ordinary Disruption: The Four Global Forces Breaking All the Trends

Woetzel, Jonathan

Economics

PublicAffairs

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Books by Manyika, James