MTN Reveals How Big Data Could Be a Socio-Economic Problem Solver

Leading telecommunications operator, MTN Nigeria has revealed the possible ways which big data could solve fundamental socio-economic problems in Nigeria.

Big data is data sets that are complex and voluminous that traditional data processing application software is inadequate to deal with them; by using smart algorithms some of the socio-economic problems could be solved.

“With proper application, developing economies can apply big data to solve fundamental socio-economic problems, particularly the Millennium Development Goals (MDGs),” said MTN Nigeria’s Chief Transformation Officer, Olubayo Adekanmbi.

For instance, developed countries are already using big data to solve specific problems. IBM used smart algorithms to support Boston to reduce municipal costs by predicting when vehicle repairs are likely to be needed.

Meanwhile, Bayo who spoke at the recent Information Technology Conference (ITC) in Abuja agreed that nations that intelligently apply big data have commensurate growth in their Gross Domestic Product.

At the event, Bayo delivered a paper titled “Fostering Digital Economy through Local Content Development and Effective Regulations,” a paper that encapsulated how big data could be applied to tremendous effects

“Big data is linked to multiple uses in infectious disease tracking, weather management, agricultural yield optimization, precision policing, human migration, governance, urban planning, emergency response, intelligent transport network and many others.”

Considering these quanta of data generated on a daily basis, the tendency of data privacy has also increased, hence the need for more security apparatus to be deployed to ensure protection.

Bayo warned that the importance of data security, customer privacy, and anonymization for practical use of aggregated data for social good cannot be overemphasized.

Adekanmbi leveraged the platform to reinforce how MTN Nigeria uses the power of intelligent aggregation to transform the Nigerian music industry by creating easy-to-use, on-demand music which has been most profitable for the practitioners in the Music industry.

“With data comes information and with information comes knowledge. Good knowledge powers decisions that deliver results and when we commit to using big data most logically, we can transform industries, society, and the world at large,” he said.

He wrapped up his address by commending the Government’s planned open data policy and how it would aid the private sector in strategic planning and increasing investment levels in Nigeria.

The conference was declared open by the President of the Federal Republic of Nigeria, Muhammadu Buhari, who stated that a renewed focus in ICT had yielded positive effects on the Nigerian economy; citing examples of the Biometric Verification Number (BVN) and Treasury Single Account (TSA) exercises.