E-Business
Critical Factors to Fuel the Data-Driven Enterprise
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.
E-Business
Microsoft to Boost AI Growth with $80Bn Investment
Microsoft has announced plans to invest $80 billion in the 2025 fiscal year to expand its data centre infrastructure.
The investment will focus on supporting the training of artificial intelligence (AI) models and the deployment of AI and cloud-based applications.
The company disclosed this initiative in a blog post on Friday, emphasising its commitment to advancing AI and cloud technology.
Since OpenAI launched ChatGPT in 2022, investment in AI has surged as businesses across sectors strive to integrate artificial intelligence into their products and services.
AI requires enormous computing power, pushing demand for specialised data centres that enable tech companies to link thousands of chips together in clusters.
Before now, Microsoft has invested billions of dollars to enhance its AI infrastructure, broadening its data centre network.
Analysts project Microsoft’s fiscal 2025 capital expenditure, including capital leases, to reach $84.24 billion, according to Visible Alpha.
The company’s capital expenditure in the first quarter of the fiscal year rose by 5.3% to $20 billion.
As the primary backer of OpenAI, the tech giant is considered a leading player among Big Tech companies in the AI race, owing to its exclusive partnership with the AI chatbot developer.
More than half of Microsoft’s $80 billion investment will be allocated to the United States, Brad Smith, vice chair and president noted in the blog post.
“Today, the United States leads the global AI race due to the investment of private capital and innovations by American companies of all sizes, from dynamic start-ups to well-established enterprises,” Smith remarked.
E-Business
NDPC to Impose Heavy Fines on Defaulting Data Processors, Controllers this Year
Nigeria Data Protection Commission (NDPC) has announced plans to significantly ramp up enforcement and impose substantial fines on data controllers and processors that violate the Nigeria Data Protection Act (NDPA) of 2023.
This was disclosed by Dr Vincent Olatunji, national commissioner/CEO of the Commission, in a video message outlining the Commission’s 2025 agenda, shared on the agency’s social media platforms.
A statement issued by the Communications Division of the Commission on Friday quoted Dr Olatunji as saying that, “For data controllers and processors, there is going to be massive enforcement. We have never really issued any fine, but going forward, you’ll hear us giving heavy penalties.”
He assured Nigerians that their data rights, as guaranteed by the NDPA, will be fully protected, and defaulting data controllers and processors will face strict consequences.
The Commissioner highlighted the NDPC’s extensive engagements with stakeholders across public and private sectors to promote awareness and compliance with the Commission’s mandate.
The efforts, he said, have resulted in the signing of Memorandums of Understanding (MOUs) with key organisations, including the National Insurance Commission (NAICOM), National Lottery Regulatory Commission (NLRC), the Data Privacy Office of Canada, and the Dubai International Financial Centre Authority (DIFC), among others.
Dr Olatunji also shared that the NDPC will advance to the second phase of its Strategic Roadmap and Action Plan (NDP-SRAP 2023-2027) in 2025.
This phase is expected to create job opportunities within Nigeria’s data protection and privacy ecosystem, particularly for young people.
The Commission has been actively training Nigerians in data protection and privacy, creating a pool of globally competitive experts within the data protection sector in 2025.
“There are a lot of data controllers and processors that are looking for people to work with them. Now those that we have trained in 2024, those we have certified, we are going to do more this year to actually launch them to the job market where they can really work with data controllers and processors,” he said.
Additionally, the NDPC will continue nationwide efforts to promote data protection awareness.
The Commission aims to educate citizens about their rights and the importance of data privacy while reminding data controllers and processors of their obligations under the NDP Act.
Dr Olatunji emphasised that these initiatives are part of the broader goal to embed a culture of data protection and privacy in Nigeria.
As part of its international engagement efforts, Nigeria will host the “Network of African Data Protection Authorities Conference” in May 2025, with over 40 nations with existing data protection laws expected to attend.
According to Dr Olatunji, this global event will position Nigeria as a leader in the data protection ecosystem, and bring significant economic benefits to the country.
The NDPC reiterated its commitment to ensuring data protection and privacy become integral to Nigeria’s digital landscape, building trust and fostering economic growth, the statement added.
E-Business
NIPOST Reports 275 Percent Revenue Growth in 2024
Nigeria Postal Service (NIPOST), achieved a 275 percent increase in revenue for the year 2024, according to Tola Odeyemi, postmaster general.
At the beginning of the year, NIPOST set an ambitious target of generating N10 billion in revenue.
Although specific figures for the end of the year were not disclosed, the reported increase suggests a significant recovery for the postal service, which had previously faced consistent decline.
Odeyemi, who made the disclosure while listing NIPOST’s achievements for the year recently, attributed the growth to a series of reforms aimed at enhancing service quality and eliminating revenue leakages
The NIPOST boss detailed the steps taken to boost revenue, noting the implementation of Point of Sale (PoS) terminals in high-transaction areas, which has streamlined payment processes and improved customer experience.
She said, “One of the major achievements for us in 2024 has been a 275% increase in revenue from 2023. We achieved this by plugging a lot of the revenue leakages that we have by deploying PoS terminals for payment in our high transaction areas, as well as ensuring that our quality of service goes up.”
Looking ahead, Odeyemi outlined NIPOST’s plans to sustain this growth trajectory.
She said the organisation has embarked on renovations and upgrades of key locations in Abuja, Lagos, and Kaduna, alongside enhancements to the Postal Institute, which is central to the agency’s change management initiatives.
Furthermore, she stated that NIPOST is gearing up for several major developments in 2025, including the rollout of a national addressing system and digital postcode services, specialised logistics for agriculture and healthcare, and a relaunch of its financial services.
“There will be infrastructure upgrades, which will take place across the Federation and there will be an increase in access to government services through your local NIPOST location,” she said.
- E-Business3 days ago
A beginner’s guide to Temu: Your ultimate shopping companion
- E-Financial3 days ago
CBN did not Force 1000 Workers to Resign- Cardoso
- E-Financial3 days ago
Bankit MFB Unveils Web Banking Platform
- Telecom3 days ago
Navigating the Path to Sustainable Telecom Services for Subscribers
- E-Financial3 days ago
World Bank Okays $1.5Bn Loan to Nigeria in Support of Tax Bills
- Telecom3 days ago
Data breaches: Commission warns banks, hospitals, others against infractions
- E-Business3 days ago
NIPOST Reports 275 Percent Revenue Growth in 2024
- E-Business3 days ago
Firm Unveils Drop App to Revolutionize E-hailing in Nigeria