Data is the New Oil

Data is the new oil, and designers are the new oil workers.

In every business, data is generated. Different businesses collect different types of data, by different means.

With the world going digital in leaps and bounds, quality data collection has become paramount for every serious business that wants to survive for more than a few years.

Today, with simple digital tools, data now can be properly and comprehensively collected; and refined through data mining and analytics to isolate the most desirable and valuable components of the data, for key insights towards important decision making in businesses.

To do this well, the help of solutions architects and digital products designers are often sort. These professionals, do an assessment of the types of data the industry already generates, and how they are used, kept, moved around and studied.

From the observations of the products design experts, a needs analysis document is drawn up, with recommendations for the types of digital products solution the organisation needs, in other for it to optimise its operations efficiency, productivity and potentials.

It is surprising that out here in Nigeria, many key decision makers in huge industries, do not still understand the value of the data they can collect with the right tools. With a good management information system alone, managers will put their industries miles ahead of their competition. The right types of data will enable managers plug leakages and deploy resources with precision such that they yield the best returns in an orderly and often predictable fashion.

Today when one talks about data, modern tech savvy folks who are aware of its potentials, know it as the new oil. And just like oil was in its hay days, and continue to be even till today, data is the new oil, and digital designers everywhere are designing for the drilling and collection of all sorts of useful data; among other things.

Shawn Eneje

CEO/Chief Learner at Hofti Ltd

Solutions Architect/Design Consultant.