Big Data: TEXEM, UK tasks Nigerian organisations on data driven decision making

BY Business.a.m

TEXEM, a United Kingdom based firm, is urging Nigerian organisations to use available opportunities to embrace data-driven decision-making.

Such a strategy would give room for better performance and sustainable success, the firm said.

In a statement issued by the firm and signed by Caroline Lucas, its director, special projects, TEXEM stressed on the need for Nigerian organisations to take steps to understand the importance of utilising data in the post-COVID-19 era, adding that such a strategy would bring about the effective and efficient achievement of organisational goals.

“Executives should develop strategies to drive effective and efficient achievement of goals using big data and machine learning,” it said.

Any opportunity to acquire the knowledge to achieve this goal should be embraced by strategic executives who want to make headway, especially in these challenging and disruptive times, the firm stated further.

In this regard, the statement announced that TEXEM would organise a programme in the country from July 20 to July 21 focusing on Big Data.

“This programme aims to help executives develop strategies to drive effective and efficient achievement of goals using big data and the internet of things,” the firm stated.

Billed to hold at The Wheatbaker Hotel in Ikoyi, Lagos, it announced that the theme already chosen for the Nigeria programme is “Data-Driven Decision Making For Effective And Efficient Achievement Of Organisational Goals.”

The statement by TEXEM explained that the programme’s methodology encompasses group and individual virtual activities, peer-to-peer learning, games, observation practice, and self-reflection to make learning fun, engaging and insightful.

“Participants will learn practical skills and actionable insights from the world-renowned TEXEM’s faculty.
“TEXEM’s tested and proven methodology comprising of case studies will be deployed during the programme to encourage participants to enhance their cognitive skills.

“It will encourage them to improve their analytical rigour, evaluation, and conceptual skills and assist them in managing ambiguity better.

“Leveraging TEXEM’s tested and proven methodology, participants will have their assumptions challenged; enhance their social capital through professional exchange with critical partners and colleagues.

“This programme is actionable and would reflect the contextual realities that organisations operating in Nigeria and Africa currently face,” the firm explained.

It said that some of the challenges that organisations in Nigeria presently face include the unprecedented worldwide pandemic occasioned by the novel coronavirus and the impact of the Russia-Ukraine war that had affected every other country.

Also, widespread insecurity, soaring inflation and high capital costs are other glitches organisations face.
Others include supply chain disruption, new cybersecurity threats, failing organisational models, and how to inspire a remote workforce effectively.

Furthermore, there is low national cohesion, dramatic forex fluctuations, low or negative GDP and, by extension, low customer demand.

The country is also faced with dwindling government and business revenue, the foreign exodus of skilled staff, low morale of staff and citizens, and diminishing productivity.

Additional challenges include rising government debt, political unrest, the upcoming election in 2023 and likely changes in monetary and fiscal policies.

“The programme will help leaders and their organisations make more impactful and innovative decisions through benchmarks and reviews.

“It will also help leaders and their organisation to harness opportunities before their rival does, allow them to identify and address risks before they materialise and, in the process, save on costs.

“Strategically, this programme would equip leaders with requisite insights on how to thrive despite the challenging operating context in Nigeria,” the statement added.

The two day programme will be delivered by renowned faculty Rodria Laline, a professor and the founding director, Harvard University’s Maximise Your Board’s Potential Programme.

Laline is also a former visiting professor of INSEAD, IMD and IESE and the co-founder of Global Chipcard Alliance (the company that creates chips for ATM cards).

She is the former CEO of Global Research and Development, an organisation that collaborated with IBM, ING, Hewlett-Packard, Digital Equipment Corporation, Honeywell Bull, Elsevier Science, Oracle Corporation, Siemens and Philips.

Laline is a board member of The Open Software Foundation and advised the prime minister of the Netherlands.
A few of TEXEM’s previous delegates from Nigeria have the following testimonials to share about TEXEM, UK programmes:

“It’s a very insightful and worthy programme on Leadership and Executive Management. It has opened my eyes to understanding that you also have to be an effective follower to be an effective leader.

“I need to surround myself with people better than me and learn from them,” TEXEM delegate Hakeem Muriokunola, head of service, Lagos State, said.

“It’s the first time I’m doing a programme in Nigeria, and it’s actually very interesting. The first thing I liked about it is the diversity of the participants and the quality of the network.

“I also like the edgy conversations we had with Christian and Alim. It’s quite thought-provoking,” said Effiong Okon, operations director, Seplat, remarked.

“The programme is an excellent one; it’s a world-class institute, looking at the quality of materials, the quality of the facilitators.

“I think it’s a world-class programme. It could be anywhere in the world, and it’s a good standard,” said Glory O. Idehen, head, E-training, Central Bank of Nigeria (CBN), and a previous TEXEM delegate.