PwC Hungary acquires data mining company

After years of working together, PwC Hungary has acquired Data Solutions Kft. The services provided by this Hungarian-based company, which has been in operation for 10 years, have focused mainly on predictive analyses, data mining, and on creating and analysing data repositories and data markets. Through this acquisition, the Hungarian office of one of the biggest financial advisory firms in the world has added nearly 15 experts to its staff. 

“In the past few years our clients have put a great number of IT systems in place and we have assisted in selecting and implementing them. They support their usual business processes with workflow engines, resulting in an incredible amount of data. The question is what will happen to such data, how we can assist our clients in using their data so they can provide even higher quality customer care, for example. We wanted to become able to extract and process the data created before deriving business-relevant results, thus facilitating decision-making at enterprises”, said Antal Kerekes, Partner at PwC Hungary in charge of Technology Advisory, on the background to the acquisition. 

The two companies have been working together as strategic partners on joint projects since 2016. In these projects the technology advisors at PwC Hungary elaborated the digital strategy, and Data Solutions staff supported the processes in the areas of customer segmentation, digital affinity and assessing the market potential of the new digital services. Following the acquisition, the data mining team will continue their work as an integral part of PwC Hungary.   

“First we focused on the business acquisition perspectives and implemented projects together, making use of each other’s complementary skills; later on we started to talk about a closer cooperation. The acquisition is a great opportunity to capitalise on our knowledge in new business areas reaching out to a wider range of customers. Our services are designed to make the most out of corporate data assets, and one of our key goals is for these services to become known in industries other than telecommunications and finance, such as in the energy sector and public administration”, said Gábor Oltyán, former managing director of Data Solutions Kft., talking about the acquisition. 

PwC Hungary will be focusing even more on developing data-based products after the acquisition. 

“We have helped our clients with innovative services, software development and robotisation in the past. By offering in-house data analysis competences, we can contribute even more efficiently to the growth of businesses, to simplifying decision-making, and we can help our clients strengthen their own market positions. Data analysis knowledge is also useful for a number of our basic services, such as auditing, business valuations, VAT risk assessments of suppliers or reviewing a purchasing procedure”, added Tamás Lőcsei, CEO of PwC Hungary appointed on 1 July. 

Notes: 

1. Please visit our website for more information on our technology services and innovative business solutions: Technology Consulting

2. Our experts explored the data trading business opportunities in the study What is data worth? - In pursuit of new services and revenue opportunities