Technology experts in country have attested to the impact of technology on business operations and productivity
According to them, adoption of relevant technology by organisations is reducing cost and improving business efficiency.
While speaking at the maiden edition of the Techplus Breakfast Series in Lagos, the Managing Director, General Electric (Gas and Power), Mohammed Mijindadi, stated that data gathering and data analysis could assist business leaders to make informed business decisions.
According to him, analysed data can be interpreted and applied in running efficient business operations.
He said GE had realised that data was important and had installed sensors into its equipment to collect relevant data in real time.
He said, “The more you collect and analyse data, it allows you to run an efficient company. It saves you money and you are able to optimise your operations. What we have been able to do is to install sensors in the equipment we manufacture. These sensors allow you to measure the performance of your machine.
We are not even analysing up to five per cent of the data we gather. Depending on what information you are looking for, you have the liberty to pick and choose the data and see what it is telling you.
“For me, what we have done is that we have been able to get real-time data. We still need people to translate and transmit that data. The ability to monitor, analyse and use the data to improve your business or make investment decisions is important for business.”
The Convener of the event, who is the General Manager, Techplus, Eniola Edun, called on business leaders to develop a long-term understanding of the impact of technology in making relevant business decisions and developing business models.
In his remarks, the Chief Executive Officer, SystemSpecs, John Obaro, who was represented by the Executive Director, Remi Atanda, argued that the impact of technology on a business was the real value that should be considered when investing in technology.
He said, “Digital is a combination of many things. It is about the impact technology makes through the combination of web, mobile, social and video. If you look at all those things, in themselves they look ordinary but when you combine them and the power it delivers, then you know it is a different thing entirely.
“Technology is no longer measured by the investment in the technology but the impact of the investment. It is not about how much I have spent but how much I am able to get out of it.
The people are no longer buying computer and servers alone, they are making leaner investment and greater impact. In the business landscape, many are not taking advantage of the opportunities that digital presents, maybe because many are still stuck in the traditional ways of doing things.”