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E-Business

M2M, Big Data to Overcome Challenges in the Retail Sector

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High competition within the retail sector compels market participants to seek ways to sustain a well-organised, well-connected supply chain and develop production plans in tune with the customer’s desires.

Implementation of machine-to-machine (M2M) technologies and data analytics would be a solution to overcome these challenges.

M2M can facilitate communication between supply chain actors and promote easier management of inventory. This technology can also provide a complete shopping experience for the customer and develop innovative methods of communicating with clients.

According to Frost & Sullivan’s ICT research, the retail sector spent EUR59.0 billion on ICT products and services across Europe in 2012. By 2017, ICT spend is forecast to increase to EUR75.0 billion at a compound average growth rate (CAGR) of 5.0 percent (2012-2017). At this CAGR, the retail sector is expected to enjoy the second highest growth rate of all vertical markets in Europe, just behind the wholesale and distribution sector.

“Technological advancement in any industry helps to streamline operations. Implementation of M2M technologies, on wireless or wired networks, specifically, promotes remote management of workloads thereby reducing time spent on regular operational work,” said Frost & Sullivan Research Analyst, ICT, Shuba Ramkumar.

“Furthermore, M2M connectivity allows data collection on various parameters which can be analysed to provide better insight into the market, and in particular customer behaviour.”

In the retail sector there is a constant need to ensure operational efficiency that can help retailers to stay ahead of the competition.

Moreover, this sector is heavily dependent on a well-managed and coordinated production and distribution channels.

Being a customer facing industry, it is also important to build and maintain customer interest. All these challenges can be addressed by M2M technologies.

“One of the biggest areas for growth in M2M for retail is the associated use of data analytics to understand shopping habits of customers,” added Shuba Ramkumar. “Consumer data analytics may be done using data sets from different sources, to help retailers either increase sales or optimise operating expenses.”

Retailers stand to benefit from collaboration with service providers such as Mobile Network Operators (MNOs) who possess raw data about subscribers using their network services. Although very useful, the use of big data always raises a number of questions about privacy and security. However, the biggest obstacle, preventing the integration of data sets is the lack of common standards in data formats.

MNOs have several features that make them relevant service providers in the retail space. Their technical strength in providing connectivity, ownership of vast reservoirs of customer data via communications networks, experience with personalised marketing and advertising make them strong contenders to be IT vendors for smart shops in the future.

“The retail industry currently uses M2M connectivity in several vital areas to overcome operational challenges such as inventory management, in-store management and remote monitoring of mobile stores. With advancements in technology, development of common standards and cost reductions, retail shops will grow from using M2M connectivity for basic requirements to deriving value-added benefits from its use (for example, data analytics, personalised marketing and in-shop services facilitating customer shopping experience). Shops will therefore become smarter, reflecting the objectives of a smart community,” summarised  Shuba  Ramkumar.


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E-Business

Nigeria Launches Cybercrime Team with Commonwealth, UK Support

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Nigeria recently launched a new joint case team to step up its response to cybercrimes that affect people and businesses at home and abroad.

Nigeria Launches Cybercrime Team with Commonwealth, UK Support

The ‘Joint Case Team on Cybercrime’ brings together Nigeria’s key justice and security agencies to work as one, making it easier to detect, investigate, and prosecute digital offences.

It is supported by the UK National Crime Agency, the UK Foreign, Commonwealth and Development Office, and the Commonwealth Secretariat, as part of a wider effort to promote international cooperation on cybercrime.

Speaking at the launch in Abuja, Prince Lateef Fagbemi SAN, minister of justice and attorney general of the federation described the initiative as “a bold and transformative stride in Nigeria’s justice system.”

He said that although Nigeria has a national legal framework to address cyber offences, laws alone are not enough.

Nigeria is among the countries most affected by cybercrime around the world, with increasing financial losses.


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INEC Sets Up AI Division to Strengthen Electoral System

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Independent National Electoral Commission (INEC) has announced the establishment of an Artificial Intelligence (AI) Division within its ICT Department.

INEC Sets Up AI Division to Strengthen Electoral System

This marks a significant stride toward enhancing electoral integrity, efficiency, and innovation in Nigeria’s democratic process.

This decision was reached at the Commission’s regular weekly meeting held in Abuja, following a series of consultations and engagements on the global and continental impact of AI on elections.

In a statement issued by Sam Olumekun, national commissioner and chairman of the Information and Voter Education Committee, INEC underscored that the growing relevance of AI in electoral matters necessitated a proactive institutional framework to manage both the risks and opportunities it presents.

“Our interactions with electoral bodies across Africa highlighted both the risks of AI—such as fake news and content manipulation—and the vast potential it holds for data-driven decision-making, risk mitigation, automated voter services, and geo-spatial intelligence for logistics,” Olumekun noted.

According to him, the newly created division will centralise the Commission’s AI efforts, ensuring a harmonized approach to deploying intelligent systems that enhance decision-making, improve voter engagement, and boost the credibility of the electoral process.

“The creation of this division puts the Commission at the forefront of institutionalizing AI capabilities in electoral management.

It is also part of our ongoing reforms in areas where administrative action is sufficient to drive change,” he said.

He added that the AI Division will help INEC better coordinate its existing technological investments while providing safeguards against the misuse of AI technologies.

“We are positioning ourselves to maximise the positive impact of AI while mitigating its negative implications. This step strengthens the credibility and transparency of elections in Nigeria,” Olumekun concluded.

The initiative, INEC emphasised, reflects its commitment to embracing innovation in safeguarding democracy and improving electoral services nationwide.

 

 

 

 


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CAC, NIBSS Unveil Platform for Data Access to Private Firms

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Corporate Affairs Commission (CAC) in partnership with the Nigeria Inter-Bank Settlement System (NIBSS) has unveiled a new Application Programming Interface (API) integration system to allow private firms access company data from the Commission’s database.

CAC, NIBSS Unveil Platform for Data Access to Private Firms

Hussaini Ishaq Magaji (SAN), registrar general of CAC, who spoke  in Abuja at the unveiling said the system would give selected private organizations access to CAC services through technology-based companies, called “super agents.”

“This is a practical step to show that the Commission is committed to meeting the expectations of our customers,” he said.

Magaji explained that the integration allows the agents to retrieve data from the CAC database for use in specific client requests, outside the standard services provided by the Commission.

“Before now, only a few government agencies had this integration, especially those involved in investigations, anti-money laundering, and terrorism financing. Now, private companies that meet the criteria can also access it,” he said.

He said the system complies with the Nigerian Data Protection Act 2023, and information such as residential addresses, phone numbers, and dates of birth may be restricted.

“This is a call to law firms and companies with the right technology. We’ve started with NIPS because of their credibility. Embassies and banks can now authenticate company records directly through them.”

“There are prescribed fees. We already collect them on our portal, and now customers can also pay through these agents,” he explained.

He named NIPS, MoneyPoint, and OPE as some of the companies involved.

“OPE and MoneyPoint handle only registrations. But NIPS has moved further into validation and verification,” he said.

Ngover Ihyembe-Nwankwo, executive director at NIBSS, who represented Premier Oiwoh, managing director, said the service allows secure and efficient data verification.

“This is the result of years of effort to connect our systems with CAC. It will help users verify data within the limits of data protection laws,” she said.

She said the move is a way to lower costs and promote interoperability across the financial sector.

 

 


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