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Critical Factors to Fuel the Data-Driven Enterprise

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Successful digital businesses depend on data to provide the insights necessary to deliver new innovations, products, and services.

 

But those insights are only as good as the underlying data. As the number of business decision-makers who depend on real-time data increases, the issue of data governance grows increasingly important.

 

Data governance is the overall management of the availability, usability, integrity and security of all data used in an enterprise. A good data governance plan will include the existence of a governing body, a defined set of procedures and a plan to execute these procedures.

 

This is according to Anton Jacobsz, managing director at Networks Unlimited Africa, in a comment on an article written by John Walton from Information Management. The article notes that, “The term ‘data rich, information poor’ refers to organisations that have not established the critical components needed to transform their data into actionable insights.… To become data-driven, organisations must provide decision-makers with timely access to clean, consistent, reliable and actionable information, while avoiding the myriad challenges that lie in the way.”

Commenting on the article, Jacobsz clarified, “In 2011, Sir Tim Berners-Lee, who is generally regarded as being the inventor of the World Wide Web, commented that data was the ‘new raw material of the 21st century’, likening it to the significance, in the past, of raw commodities such as iron, aluminium and petroleum products, which are all used to produce various processed manufactured goods.

 

“This interesting comment from Sir Berners-Lee sums up the true importance of data in today’s world, in which we value data for its ability to present insights that in turn help to guide business decision-makers. The right data at the right time can present critical deciding factors that can leap-frog a business ahead of its rivals. However, as we know, the quality of our output begins with the quality of our input. This is where data governance comes into its own: it is key to delivering consistent and reliable information.”

 

The author sets out eight critical elements that underpin a successful, long-term information management strategy, as follows:

 

Governance

Any enterprise information management initiative must blend strong C-Suite sponsorship with representatives from all areas of the business to create a blended team of clinical, IT, and business stakeholders.

 

Data governance

In order to make accurate business decisions, it’s essential that leadership has access to clean, consistent, and reliable information.

 

Master data management (MDM)

MDM is closely intertwined with data governance, and is a set of tools and associated methodologies that foster the integration and maintenance of master data. Data stewards must be able to easily maintain the master data domains for which they are responsible.

 

Metadata management

Metadata management helps companies develop a more holistic understanding of their data by providing easy access to data definitions, formulas, and other essential details. These solutions also facilitate data lineage, which provides a visual depiction of the data’s origin and any changes that occurred prior to it appearing on an executive dashboard or report, which works to create a high degree of data transparency.

 

Business intelligence (BI)

BI tools enable users to drill down into subsets of information, conduct ad hoc queries, run predictive modelling, and a variety of other functionalities essential to becoming truly data-driven. A key challenge hindering more widespread BI adoption is that many organisations have a poor information management platform, also known as data architecture.

 

Data architecture

The journey from raw data into actionable analytics is a complicated process. To be successful, companies should adopt a three-tiered data architecture approach in which each layer is designed and modelled to meet specific objectives, namely a “landing area”, a “conformance layer” and finally an “analytic layer,” in which data is transformed into a usable format for BI initiatives.

 

Data acquisition

In order to populate the data architecture, companies need access to data acquisition tools, also known as Extraction/Transformation/Load, or ETL, tools. Additionally, it is necessary to develop a comprehensive strategy to detect changes in the source system data.

 

Technical architecture

In order to meet the demand for high performance and reliability, a robust technical architecture composed of dedicated, properly configured servers is required.

 

As stated in the article, attempts by business owners to become data-driven are often handicapped by ambiguity surrounding the project. Another factor that hampers the move to a data-driven enterprise is a lack of awareness and understanding of the people, processes and technology considerations that are required to make these initiatives successful.

 

“A data governance strategy makes sure that data is handled in a proper and compliant manner across the business, and is the foundation of effective data management. Data management sets out to ensure that an organisation has different types of data stored in the right place, and that it is being used for the correct reasons. Data management oversees the discarding of unnecessary data, and that data flows through the business cos-effectively and efficiently. In South Africa, the looming implementation of the Protection of Personal Information Act (POPIA) reminds us of the importance of data governance,” concluded Jacobsz.

 


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E-Business

Paga Hits N14tri Transactions Value in 15 Years

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Paga, a payments and financial services provider for Africa has processed transactions value to the tune of N14trillion in the last 15 years of its existence.

Tayo Oviosu, chief executive officer, Pagatech, said at a media interaction to mark the company’s 15 anniversary that 80 percent of the amount was done in the last five years.

“When we celebrated 10 years of our business that was five years ago, we have grown our transactions values by 7 times, across the three business arms of our operation which includes; consumer payments, platform as-a-services and super App for retailers.

“This has translated into job creation as we have created over 1,000 direct jobs in Ethiopia and in Nigeria and indirect jobs through our agent network to about 100,000 jobs, this is economic empowerment of Nigerians.

“Our desire is giving people financial freedom and making life possible for them and impacting on our community. We are really proud of our economic achievements and we are making sure that our customers get the best experience.

“We are super excited about what the future holds for our business. Our vision is a world where cash does not exist anymore. We ensure that our customers’ money is safe by complying with the highest global security standards.

“Our focus is on helping both consumers and sellers pay, get paid, and access financial services. We do this directly; and through our Platform-as-a-Service, which enables other third parties to leverage the deep infrastructure we have built for endless possibilities.

Oviosu, further explained the three business lines Paga has transformed into from a mobile money operator from inception to a financial services provider includes; Consumer payment: where anyone can open a Paga account from any type of phone, by download Paga App from Apple or android store or dial *242# from any type of phone device.

“With Paga app, you can fund the account, make payments and also have a physical Visa card or a virtual Visa card on the account. This gives you significant convenience over other bank accounts we have in the market today.

You can send money into that account from any bank account or walk into any bank branch to fund the account. You can as well go to any agent and fund or make transactions from the account,” he said.

He added that when he started the business 15 years ago, there was no infrastructure, “we had to build the required infrastructure to support the business. Two years ago, we opened our infrastructure to allow other technology companies to use it for their own business. We called this Platform as a Service. With Platform as a service we are serving 150 businesses who are using our infrastructure to execute their own businesses.

“The third arm of our business is what we called Doroki this a different brand which is super App for retail business. If you are a supermarket you use it to manage your inventory among others. This is the youngest arm of our business” he noted.


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FG to Fnalise National Intellectual Property Policy  Soon– NCC Boss

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Dr John Asein, director-general, Nigerian Copyright Commission (NCC), has said that the federal government is taking steps to finalise its National Intellectual Property (IP) Policy and Strategy for the country.

FG to Fnalise National Intellectual Property Policy  Soon– NCC Boss

Asein disclosed this on Friday while commemorating the 2024 World Intellectual Property Day with the theme “IP and the SDGs: Building Our Common Future with Innovation and Creativity’’ in Abuja.

The that the Day is observed every April 26 to celebrate the importance of intellectual property (IP) rights to encourage innovation and creativity.

The director-general was represented by  Mr Emeka Ogbonna, director of Legal.

NCC boss said the policy would serve as a blueprint for a more efficient modern and responsive legal and administrative framework for the country to leverage on its creative and innovative potential.

He said that the day underscored the power of innovation and creativity in achieving the Sustainable Development Goals (SDGs) and shaping a sustainable and inclusive future for humanity.

According to him, the SDGs represent a universal call to action to end poverty, protect the planet, and ensure prosperity for all by the year 2030.

“IP rights play a pivotal role in fostering innovation, creativity, and technological advancements. They provide the framework that encourages men and women to develop new solutions that address global challenges.

“It is the lynchpin for incentivising the use of creative and innovative ideas to solve many of the challenges that confront humanity.

“This year’s World IP Day reminds us that intellectual property can be a powerful tool for social, economic, and environmental development.

“It encourages individuals, businesses, and governments to leverage IP rights to drive innovation, create jobs, and build resilient communities.

“By aligning our intellectual property policies and strategies with the objectives of the SDGs, we can accelerate their achievement,’’ NCC boss said.

He said in the spirit of the “Renewed Hope Agenda’’ of the present administration, government had also shown appreciable commitment to the creative industry as a major sector of the economy.

“As one of the agencies responsible for the wholesome development of the creative sector, the Nigerian Copyright Commission will continue to provide the needed institutional, legal and administrative support for the protection, promotion, regulation and enforcement of copyright.

“The commission will pay particular attention to using the copyright system to advance Goal 1 (No poverty); Goal 4 (Quality education); Goal 5 (Gender equality).

“And Goal 8 (Decent and economic growth); Goal 9 (Industry, innovation and infrastructure) and Goal 17 (Partnerships to achieve the goals).

“We are aware that the goals would have to be adapted to fit the peculiar needs of intellectual property which is an intangible asset.’ ’he added.

The director-general, who said that the commission focused on the 17 SDGs to address emerging challenges, called on authors, innovators, users, IP experts and other stakeholders to reflect on the vulnerability of the nation’s fragile knowledge and creative ecosystem.


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NITDA, ICF Train 100 Schoolgirls in ICT Skills

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The National Information Technology Development Agency (NITDA) and Illmi Children’s Fund (ICF) have trained 100 schoolgirls in digital and Information and Communication Technology skills training.

Mrs. Maryam Augie-Abdulmumin, ICF Executive Director, confirmed this in a statement on Thursday in Lagos.

The graduation followed the training of the schoolgirls in ICF and NITDA’s DIGITGALS 2.0 programme, a collaborative initiative aimed to equip adolescent girls in Abuja with critical digital and ICT skills.

Augie-Abdukmumin said the DIGITGALS 2.0 centred around essential digital literacy, programming fundamentals, digital marketing and communication skills, and cybersecurity awareness.

She added that the girls were equipped with the confidence to compete and excel in a globalised digital economy. The graduation was in commemoration of the 2024 International Girls in ICT Day celebration on April 25.

DIGITGALS 2.0 is in its second phase and empowered 100 senior secondary school girls selected from five government schools in the Federal Capital Territory.

The girls aged between 15 and 18 years were equipped with the knowledge and tools needed to thrive in the digital world and address the growing demand for ICT skills in the 21st century.

Augie-Abdulmumin reiterated the importance of bridging the digital gap in the country starting with the girl-child.

“This graduation ceremony on International Day of Girls in ICT is a powerful symbol of our commitment to closing the digital gender gap.

This programme made possible through our partnership with NITDA, and signifies a crucial step towards bridging the digital gender gap.

It also fostering a future where women are active leaders in the tech industry. This is also an opportunity for these girls to take charge of their own future,”.

Mr Kashifu  Abdullahi, the Director-General of NITDA, commended the collaborative efforts of ICF in making the DIGITGALS 2.0 a reality.

According to him, building a diverse and inclusive digital workforce is critical for Nigeria’s success.

“We are proud to collaborate with ICF on DIGITGALS 2.0 to empower these young women to become active participants in the tech industry. This programme showcases the importance of collaborative efforts in bridging the digital gender gap.

These girls have been equipped with essential digital skills, and ICF and NITDA are confident they will become active contributors to Nigeria’s thriving tech landscape,”.

ICF is a non-profit organisation dedicated to improving the lives of children, from underprivileged backgrounds, through education, healthcare, technology and entrepreneurship initiatives.

NITDA is a public service institution established in 2007. It functions as the ICT policy implementing arm of Nigeria’s Federal Ministry of Communication and Digital Economy.


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