UK firm TEXEM has encouraged Nigerian organisations to make use of available opportunities to embrace data-driven decision-making.
The company claimed that such a plan would allow for improved performance and long-term prosperity.
The need for organizations to comprehend the significance of utilizing data beyond the COVID-19 era was underlined in a statement made by Caroline Lucas, Director, Special Projects, of TEXEM, on its website.
According to the report, such a strategy would result in the efficient and successful accomplishment of organizational goals.
“Executives should develop strategies to drive effective and efficient achievement of goals using big data and machine learning,” the statement announced.
Strategic executives who want to advance should seize any opportunity to learn the skills necessary to accomplish this goal, the article advised, especially in these difficult and upsetting times.
According to the statement, TEXEM would host a program in the nation from July 20 to July 21 in order to achieve this goal.
“This programme aims to help executives develop strategies to drive effective and efficient achievement of goals using big data and the internet of things,” it said.
The theme of the TEXEM, UK programme at The Wheatbaker Hotel, Ikoyi, Lagos, is “Data-Driven Decision Making For Effective And Efficient Achievement Of Organisational Goals”.
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 statement explained.
According to the report, among the difficulties organizations in Nigeria currently confront are the effects of the Russia-Ukraine war, which had an impact on every other nation, and the unprecedented global epidemic caused by the new coronavirus.
Organizations must also deal with pervasive insecurity, skyrocketing inflation, and hefty capital expenses.
Others include how to effectively motivate a remote workforce, emerging cybersecurity concerns, failing organizational models, and supply chain upheaval.
Additionally, there is a lack of national cohesion, extreme currency swings, a low or negative GDP, and consequently, a lack of consumer demand.
Additionally, the nation is dealing with declining government and company revenue, a skilled worker migration to other countries, low employee and public morale, and declining productivity.
Rising public debt, political turmoil, the forthcoming election in 2023, and potential adjustments to monetary and fiscal policies are further challenges.
“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.
