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Assessing The Maturity Of Data and Analytics Capabilities In Nigeria - KPMG

Data & Financial Inclusion	2040 VIEWS
Data & Financial Inclusion
2040 VIEWS

Friday, September 13, 2019 / 07:17AM / By KPMG / Header Image Credit: kpmg

This KPMG Report addresses the absence or little presence of Data and Analytics (D&A) in Nigeria. The report also profiles Data Science Nigeria's effort so far.

This is the first research in the country that shines the light on this problem. It takes information from over 100+ organizations across various areas of the business environment including financial services, consumer markets, energy and natural resources and even the public sector.

This survey is specifically focused on the following objectives:

Assessing the maturity and positioning of the current D&A practices across industries in Nigeria
Gauging the depth of D&A skills and challenges in building capacity.
Highlighting the typical D&A use cases developed by organizations.

This Report also articulates the KPMG point of view on the maturity of the D&A landscape in Nigeria and its key applications across various parts of business enterprise.

It also share KPMG's position on some stay-awake issues of organizations as it relates to data and analytics. Areas covered include:

Fraud Analytics
HR in the Analytics age
Artificial Intelligence and the finance function
Analytics to build customer relationships in banking

We believe the outcome of this research is a big step towards illumination on the state of data and analytics capabilities in Nigeria.

It also has useful guidance for organizations who are interested in building data and analytics capabilities.

Takeaway:

You can learn about use cases, skills gap & challenges.

Proshare Nigeria Pvt. Ltd.

Highlights of Data and Analytics Use Cases

Fraud Analytics and the Four Anchors of Trust

Analytics can be an indispensable tool in the highly complex world of fraud detection. This is especially important considering the huge cost of fraud. Companies that seek to detect fraud can deploy data and analytics to search for anomalous or suspicious transactions. However, successful analytics requires high-quality trusted components. These components include quality of the data components, effective use of the analytics process, established operational controls and ethical integrity of the process

HR in the Analytics Age

Applied properly, HR analytics can show connections, correlations and even causality between HR metrics and other business measures - all of which can be used to inform HR strategy and actions. The HR function can use analytics to transform itself into a strategic partner capable of showing company leadership how well the organization's people programs are aligned with the business strategy and how much value they are adding to the company's results

Artificial Intelligence and the Finance Function

Artificial intelligence has the power to transform the entire finance function as highskilled analytical jobs are replaced by smart algorithms, learning machines and artificial intelligence. It will be the CFOs who act now and embrace this change - even before seeing its full potential - who are likely to gain most. Those who wait may face mounting costs in upskilling their workforce as they try to close the talent gap.

Fraud Analytics and the Four Anchors of Trust

Analytics have inherent potential to create value and help build trust. Analytics can help create tailored services to customers, detect fraud, assess risk exposure, ensure consistency of service and predict market risks. Analytics have inherent potential to create value and help build trust. Analytics can help create tailored services to customers, detect fraud, assess risk exposure, ensure consistency of service and predict market risks.

Download the PDF Report by KPMG

The KPMG Report