Exploring the Success Factors for a Launch of an Algorithmic Consulting Platform

Even the rather traditional consulting industry is not spared from digitization. Digital platforms are known to foster convergence and generativity. For the consulting industry, digital platforms offer the potential to win new customer groups who have not previously purchased consulting services before. If digital platforms for the mediation of consulting services are established by incumbent consulting companies, the new platform-based business models for the consulting market will appear. Since network effects fuel platforms, the launch phase of a platform is a serious challenge. In this paper, we examine the launch of a digital platform for the algorithmic consulting (AC) approach, due to its promising market potential. In order to research the adaptability of digital platforms for AC consulting, we perform a qualitative study of electronic documents on the actions of three successful crowdsourcing platforms. The preliminary results comprise 14 success factors for the platform launch that will be validated in a follow-up practical application. The open nature of platform design in the areas of customer access, cooperation with other platforms, interfaces, and communication appeared to be particularly important for a successful platform launch. All identified success factors can be applied to AC services and the consulting market in the future.