What if we unleashed the full potential of IoT and analytics in Nigeria?
If you haven’t read this new york times article on how Liverpool use data analysis, especially as they are the current holders of the champions league title; do read that and come back. Because if analytics-done-right can make what most would consider an average team, clinch the most coveted title in all Europe, then, how complicated really are some problems for IoT and analytics in Nigeria?
“The Beautiful game,” Pelé called football because it is highly unpredictable. The fact that analytics is already been applied simply implies you need to put your data scientist on no sleep – that is assuming you already apply data-driven insights to your business decisions or even collecting relevant data.
“If policymakers and businesses get it right, linking the physical and digital worlds could generate up to $11.1 trillion a year in economic value by 2025.” – Mckinsey Global Institute
The goal of consumer data analysis including IoT analytics is understanding people, not things. An IoT solution is not one that simply collects and transmits data, but one that analyzes data to solve problems and/or discover new opportunities. Furthermore, IoT will encompass things, people, and processes to make networked connections relevant and actionable, resulting in more capabilities, richer experiences and progressively better economic opportunities.
But today, McKinsey states that almost none of the data created by IoT devices are really utilized, and those that are utilized are used to little advantage. The oil and gas industry, for example, which has upwards of 30,000 sensors on a solitary coastal oil rig, is utilizing short of one percent the data assembled from those gadgets for basic leadership. Moreover, the greater part of the collected data—for instance, in assembling mechanization frameworks on production line floors—are used distinctly for ongoing control or oddity identification.
To understand, how IoT and analytics applied in Nigeria can change products and business models, let us take an example of Upnepa.ng a product of Energy Detectors, which is an IoT-powered analytics platform that monitors, records and predicts electricity supply. After collecting, analysing and reporting electricity supply data from various communities across Nigeria, they noticed that areas like Apatapiti, FUTA Southgate, Akure hardly get up to six hours of power supply on any given day. Blaming the government would have been the normal path of least resistance, but going against this norm, they have decided to roll out a new service where people who have power generators, inverters e.t.c (Energy points) can host those who need power at an affordable rate. This can come in handy when you’re in a new town or you need power urgently to meet a deadline.
“It’s like Airbnb, but for energy” — Taslim Salaudeen