Consulting + Case Interview + Market Sizing Overview
Consulting involves providing expert advice and solutions to individuals, businesses, or organizations to help them improve performance, solve problems, or achieve specific objectives. Consultants typically possess specialized knowledge, skills, and experience in various fields, offering valuable insights, analysis, and recommendations to their clients.
A case interview is where candidates are presented with a business problem or scenario and are asked to analyze it, develop recommendations, and present their findings to the interviewer. These interviews assess a candidate's problem-solving skills, analytical abilities, and communication skills.
Market sizing is a technique often employed in case interviews where candidates are asked to estimate the size of a particular market or segment. This involves breaking down the market into its relevant components, making assumptions, and using logical reasoning to arrive at a reasonable estimate. Market sizing helps candidates demonstrate their quantitative skills and ability to think critically about business opportunities.
Approaching a Case Interview
Making sure that you approach the case in a structured way and that your interviewer can understand each step of your thought process is very important. This is how we would suggest structuring and going about a case.
Understand the Case: Carefully listen and comprehend the case prompt, making note of important details, objectives, and any provided data.
Clarify the Objective: If anything is unclear, ask clarifying questions to ensure you fully understand the problem you're solving.
Structure Your Approach: Outline a structured framework for analyzing the problem. This could involve breaking down the problem into its key components and identifying potential solutions.
Analyze Methodically: Apply your framework to analyze the case, using both qualitative and quantitative methods as appropriate. Make logical assumptions and use data (if provided) to support your analysis.
Think Creatively: Don't hesitate to think outside the box and consider alternative perspectives or solutions.
Communicate Clearly: Articulate your thought process clearly and concisely to the interviewer, explaining your rationale behind each step of your analysis.
Be Flexible: Be prepared to adapt your approach based on any new information provided or insights gained during the interview.
Practice, Practice, Practice: Practice case interviews regularly to improve your problem-solving skills, time management, and ability to communicate effectively under pressure.