DeciBio Consulting
Rank: 13 Revenue Growth: 420%
DeciBio Consulting's mission is to provide the market intelligence and strategic insights that drive disruption and innovation in the research tools, clinical diagnostics, and health technology markets. "We appreciate the opportunities we have to work with some of the most innovative companies in the world and drive disruptive technologies to the market," says Mika Wang, Director of Operations and Special Projects. "Inspired by our clients' constant innovation, we remain committed to innovating our own consulting methods, products, and services to push the practice of consulting forward and to create increasing value for the industry." Wang sat down to discuss the firm's outstanding growth the last three years.
Consulting: What were the factors that contributed to your firm's growth?
Wang: Our growth is attributable to hiring exceptional and passionate people and empowering them through an entrepreneurial environment to develop novel content, products, and insights for our clients. As a boutique firm, we can focus on and quickly develop products in high-growth areas, such as liquid biopsies, digital health, or immuno-oncology. For example, in response to our clients' demand for increasingly data-driven insights, we have developed a unique hybrid consulting-analytics offering that combines traditional strategy consulting layered on top of off-the-shelf data analytics. The entrepreneurial nature of our firm allowed a small team (myself and Data Product Manager Pranay Madan) to rapidly optimize this unique, hybrid offering, which has contributed significantly to our growth.
Consulting: How is this year shaping up for your firm?
Wang: We expect above-market growth in our consulting services and triple-digit growth in our market intelligence business. In the latter business, we offer a variety of differentiated proprietary data products as well as custom analyses.
Consulting: What's your firm's outlook for 2018?
Wang: In 2018, we see opportunities to provide strategic consulting services to a broader base of clients in the research tools, clinical diagnostics, and health technology markets. We also see opportunities for new compelling data products, particularly in the areas of competitive intelligence, market analysis (size/growth), and tactical sales force targeting. Finally, we believe there are opportunities to work with the growing health technology sector here in Los Angeles.
Consulting: What's your firm's biggest challenges in 2018?
Wang: Our business is fueled by talented team members so our biggest challenges for 2018 are to attract, develop, and retain talented employees.
Consulting: What does being named one of Consulting's Fastest Growing Firms mean to your firm, your employees and your clients?
Wang: We feel honored to be recognized by Consulting Magazine as one of the Fastest Growing firms, as it is a testament to our culture, business model, and exceptional team. We are unique in that we are willing to deviate from tried-and-true formulas to develop innovative processes, products, and solutions for our clients. This often results in output that breaks the mold of what consulting or market research firms typically produce, which we find our clients appreciate.
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