Data Analytics to improve business competiveness and revenue mobilisation

Accra, The Product Development Manager of the Ghana Community Network Limited (GCNet), Mr Carl Sackey, says Ghana is well positioned to significantly improve its business competitiveness through data analytics, crucial for strategic return on investment decision making.

Data analytics (DA) is the process of examining data sets in order to draw conclusions about the information they contain, with the aid of specialised systems and software.

It enables one to analyse data from different perspectives and summarise it into useful information - information that can be used to help businesses increase revenues, improve operational efficiency, optimise marketing campaigns and customer service efforts, respond more quickly to emerging market trends and gain a competitive edge over rivals - all with the ultimate goal of boosting business performance.

Making a contribution on the subject 'Envisaging The Future Of Digital Payments In Ghana,' during a panel discussion at the 2017 Ghana Economic Outlook and Business Strategy Conference, Mr Sackey said given the emergence of disruptive technologies, companies have to rethink new payment systems in a bid to speed up processes towards a digitised economy as envisioned by the Government.

Mr Sackey said proper leveraging on data analytics offered a huge opportunity to bridge the revenue gap adding: "GCNet is well placed and positioned to lead the way with its infrastructure to track payments and electronic transactions having built various trade related data that could be used for business intelligence for growth."

He said in India for instance, disruptive technologies was changing the face of payment systems and speeding up the processes of digitisation of payments.

Other panellists included the Chief Executive Officer of Margins Group of Companies, Mr Moses Baiden, and General Manager of MTN Mobile Money Limited, Mr Eli Hini.

The Ghana Economic Outlook and Business Strategy Conference (EOBS) was on the theme: "Unlocking Ghana's Economic Potential with Mobile Money & Payment Systems."

The EOBS is a full day event that brings together leading government officials, banking executives, heads of mobile telecommunication companies, policy and decision makers, industrial experts, civil society organisations among others to address issues pertaining to business growth and development.

Source: Ghana News Agency

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