Lack of centralized data system in Nigeria hinders efficiency – Olawale
By Felicia Nwosu
Sanusi Olawale, Chief Executive Officer (CEO) of Light Inc, has decried the lack of centralized data system in Nigeria that professionals could leverage to streamline processes, improve efficiency, and make better-informed decisions.
He further affirmed that data-driven decision are more likely to realize benefits such as top-line growth, higher customer satisfaction, and efficient operations than depending on guess-work.
Olawale stated this during an interview with MARKETING EDGE, while also underscoring some of the challenges currently bedeviling the industry.
He, however, called on advertising professionals to deepen their passion towards building a more deliberate and reliable sources of data that can boost more strategic business initiatives for greater impact delivery.
He pointed out that in today’s data-driven world, IMC professionals need to recognize the importance of data in driving strategic decisions and gaining a competitive edge by establishing a centralized data source that can provide strategic insights.
“One of such challenges is the lack of good data and market research. When many people go out there, trying to run advertising for a particular brand, you figure out that they are not data-led. So, we lack a centralized data system in Nigeria that is supposed to inform our strategy that could lead to good communication.”
In his assessment of the industry, Olawale admitted that the landscape has experienced tremendous transitions, making both local and international presence with remarkable feats, while also expressing optimism towards revenue growth.
“Nigerian advertising revenue actually grew based on statistics. I can’t really mention the numbers, but I would say the revenue since the advent of COVID has grown over the last few years. Secondly, I would say there is a spend surge when it comes to digital advertising. This is because its consumers in Nigeria have grown over the years. We saw a significant growth in our advertising spend last year and, of course, by the time we have good advertising spend, it’s going to contribute to the country’s national GDP,” he added.
RECOMMENDED ARTICLES
Comment
No comments found.