Femi Osinubi, West Africa partner for Data and Analytics, PricewaterhouseCoopers (PwC), has said it is a smart move now for organisations to embrace the use of data and analytics for optimal strategy in growing their businesses.
According to Osinubi, if optimised effectively, data can carve the path of a company’s growth in the long run, while reducing the trial and error method. Speaking in Lagos during a one-day data and analytic conference organised by PwC Nigeria, Osinubi noted that no organization can be successfully managed with a structure that does not fully leverage the power of data.
He, however, stated that building analytics capabilities require strong leadership, sponsorship, and proactive change management. Best in class companies harmonise internal and external data sources, setting the stage for new data applications, he said.
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“ Organisations need to update business and data governance processes to align analytics, IT and business,” he said. “One of the ways the gap in that area of analytics can be breached quickly is having academics like the one PWC has set up, where organisations and government agencies are taught data analytics, while people are keyed into using the power of data in settling complete business problems,” he added
Also speaking Amit Lundia, Director, Data and Analytics Consulting, PwC India noted that a series of trends are creating opportunities for companies to create value through data and analytics.
“ PwC has responded to these by building a robust data and analytics apps marketplace,” Lundia said While highlighting the potentials, possibilities, and opportunities that lie in business data assets, Lundia noted that data and analytics are increasingly creating values for organizations that harness them across the world.
Chineyere Okeke
