“Consulting Guesstimate - Estimate the number of orders delivered by Zomato per hour.”Such questions are always nerve-wracking in Consulting interviews, even if you are the most composed and qualified candidate. We can say that is what interviewers are aiming for. These types of questions are intended to evaluate both your professionalism and poise. The way you react to them can tell a lot about your professionalism while handling difficult business challenges. Guesstimates have become an all-time favorite for Consulting interviewers. In the first round of interviews, guesstimates are often used to prepare candidates for more extensive cases later on. Consulting firms use guesstimates and market sizing questions to assess candidates' logical thinking, problem-solving & quantitative ability.Let’s dive into the framework of solving Consulting Guesstimate cases.
Clarify: This helps you be on the same page as the interviewer. Ask questions that can give you the necessary information to prevent later disagreements & show them your ideal, organized approach to a problem.
Breakdown & Map: Always break down the problem into small pieces & map out the numbers/calculations to each piece of information.
Calculate: Now is the time to crunch some numbers either by your own assumptions or with the help of the data given by the interviewers.
Consolidate & Validate: Consolidate all the pieces into one answer by using calculations & try to validate your answer with confidence.
Now you know how to go about a guesstimate case, it’s time for you to get hands-on on the problem. Prove yourself that you are capable of getting into the Consulting world.📢What’s More? Earn rewards of up to INR 1500!
Click on the above link & mention your approach & assumptions for each guesstimate on the form. Keep in mind that when it comes to Consulting Guesstimates, the interviewer is looking for your approach & mental ability. So, make sure to write the approach clearly for our evaluation.