Spotlight Stories
COVID-19: Signalling the emergence of Big Data analytics in Nigeria
Up until the eruption of the COVID-19 pandemic, tech companies in Nigeria were not adept to this form of data due to deficiencies in collection and management.
The COVID-19 pandemic is a topical issue confronting the world in the year 2020. The disease rages through countries infecting about three million (3,000,000) people and killing about 160,000 and counting.
Despite the sophisticated healthcare systems and programmes, Western states and countries of the global north are almost overrun by the pandemic. In comparison, countries of the global south are witnessing fewer but increasing cases.
In essence leaving these two questions to be answered:
1. Can big data analytics help combat the COVID-19 pandemic?
2. How can big data analytics ensure economic stability post-COVID-19?
But first…
Big Data in Nigeria before COVID-19
Today, large amounts of data are created and transferred from person to person on a daily basis through social media platforms, websites, etc, people seeking to connect with each other, send pictures, videos, graphics and so on.
However, up until the eruption of the COVID-19 pandemic, tech companies in Nigeria were not adept to this form of data due to deficiencies in collection and management.
READ MORE: How five Nigerian tech-startups are tackling COVID-19 outbreak
As such numerous tech giants and start-ups within Nigeria and other developing countries focused on areas of predictive analytics, listing sites, streaming services, commercialisation of blockchain, e-Payment methods, and cloud computing among others.
Only a handful of tech companies and organisations involved themselves in the salient issues of big data analytics. Hence, tech companies and by extension, small and large businesses in developing countries missed out on the benefits of Big Data and its methods of analytics.
Can Big Data Analytics Help Combat COVID-19 Pandemic in Nigeria?
The total number of confirmed coronavirus cases in the African continent is nearing 20,000 with almost 800 in Nigeria as of when this article was written. 52 out of the 54 countries that make up the continent are affected, with South Africa and Algeria reporting the highest figures so far.
Despite such low figures in comparison to the rest of the world, governments of these countries do not seem to be “on top of the situation”. The slow responses of African governments towards the pandemic has placed them in the position of trailing the number of reported cases rather than confronting them in real time.
Many governments have issued lockdown orders which have halted or slowed down economic activities. With offices, companies and factories shut, organisations are forced to furlough and, in some cases, out rightly lay-off their workers. This automatically transcends to an increase in unemployment figures.
READ ALSO: FirstBank boosts technological advancement in banking, sets to host FinTech summit
News outlets have predicted that about 20 million jobs are at risk in Africa due to the pandemic. Invariably, many are in need of palliatives to help cushion the effects of unemployment. These palliatives can however, not be disbursed to the right quarters due to the absence of data.
Big Data Efforts from Tech companies
Despite being in such a situation, tech companies are beginning to adapt and familiarize themselves with Big Data Analytics. For example, South African tech companies are in the early stages of employing big data solutions to ease governmental monitoring and surveillance for the purpose of ensuring security.
This snowballs into the use of the technology to combat Coronavirus.
These firms are also offering modelling services to biomedical researchers interested in fighting the Coronavirus by using artificial intelligence and machine learning (both tools of Big Data Analytics) to probe pharmalogical and genomic data bases to retrieve knowledge on the virus. The results of this is the graphical expressions of the virus seen in adverts and campaigns during this pandemic.
More interestingly, tech and telecom corporations are increasingly using big data to monitor human movement during lockdown and social distancing measures. This creates a forecast on communities prone to high rates of infections. While these are implemented, there is a need to ensure privacy concerns and guidelines are followed. These are satisfied with collaborative governments who support this initiative.
READ MORE: FG orders NITDA to design framework for lawful use of citizens’ data
Countries towing this path include Kenya, Uganda, South Africa and so on. Beyond the African continent, South Korea, Singapore among others are supporting tech companies in using big data to fight the coronavirus pandemic.
However, the extent to which big data analytics can be used as a weapon against the deadly virus is not yet known as we are still in the early stages of such initiative with so much more to learn and uncover.
Big Data Analytics– the pathway to economic stability post COVID-19
For most countries, regaining economic stability in the period following the pandemic will a herculean but necessary task. Already, industries and global corporations are suffering the heavy fall outs of the pandemic. The preceding combined with reduction in international trade will inevitably affect the different economies of the world.
Despite this, it must be noted that big data along with new methods of analytics can help cushion the effect of the economic downturn. This is proven to be true as increase in human knowledge and learning has always resulted to an increase in economic and commercial activities. Examples abound in the industrial revolution of the 1800s and the digital revolution of the 1970s
As such, tech companies are saddled with the responsibility of driving the popularity of big data analytics as a formidable tool of economic stability. One way this can happen is for tech companies to introduce certification and learning opportunities on Big Data analytics, Machine Learning, Artificial Intelligence and the likes.
This will not only equip people with knowledge on such skills but indirectly change the demands of businesses and corporations as regards data analytics. Ultimately more jobs will be created and economic activities will receive a boost.
Article written by Tech Roundup
Business
Burger King to open first outlet by Q4 2021- Franchisee
Burger King is expected to employ about 6,000 people (direct and indirect) in Nigeria between 2021 and 2026.
Burger King, an American multinational hamburger fast food chain, is expected to start its operations in Nigeria by the fourth quarter (Q4) of 2021.
The company is also expected to employ about 6,000 people (direct and indirect) in the country between 2021 and 2026, other things being equal.
These were disclosed by Antoine Zammarieh, the Franchisee of Burger King in Nigeria and Managing Director, Allied Food & Confectionary Services Limited, in an interview with Nairametrics on Tuesday.
He said, “Burger King will start operations by Autumn, i.e between September and November 2021. We have set up the Quality Control unit and have met some of our local suppliers to seal the deal. Also, we have sent some of the ingredients to America to test quality.
As a company, we are delighted to enter this new market being the largest country in Africa and are looking forward to serving our future guests with our world-famous Burger King meals.
Most importantly, our goal is to positively contribute to the economy by creating more jobs and employment opportunities. In five years, we hope to directly or indirectly employ between 5,000 and 6,000 people in Nigeria.”
Zammarieh added that the hamburger maker, in a show of interest in the Nigerian market, had signed a development agreement for the Nigerian market.
He explained that the development agreement of the chain in Nigeria, which was recently signed, would give more confidence to the Nigerian market and consumers in general, especially during these hard times.
What you should know
Nairametrics had reported, three weeks back, when Zammarieh said, “I always believed in Nigeria and in its people. I am confident this venture will go a long way and prove successful for Burger King, Nigeria, and our company.”
“I believe this will be a tremendous step towards giving more confidence to the Nigerian market and consumers in general.”
What to expect
The first outlet of the hamburger chain in Nigeria is expected to be launched in Lagos.
The Florida-based restaurant chain is set to join the likes of Dominos Pizza, Krispy Kreme, KFC, and Chicken Republic (pieXpress) in a stiff competition for market share and dominance in a saturated market, with hundreds of other traditional restaurant chains.
Burger King is expected to dig deep into its quiver of strategies to ensure an impressive performance and success in its first year of operation, as other players have been having it tough following their respective launches into the Nigerian market.
The COVID-19 pandemic however has affected the fast-food industry severely, as the disruption to the industry’s supply chain, especially the on-trade channel, which accounts for a significant percentage of restaurant sales, triggered declines in their profits in 2020.
Billionaire Watch
Here is the exciting 2021 list of the richest football clubs in the world
Here’s Forbes 2021 list of the most valuable clubs in the world.
Billionaires are fond of investing in sports franchises. This is because there is a lot of money in it and the income stream is pretty consistent. Authoritative wealth watch magazine, Forbes yesterday released its official list of the most valuable clubs in the world.
It also gave a summary of the business side of the football world which we found quite interesting.
Nairametrics did a thorough review of the list and highlighted the parts which we believe will resonate well with our readers. Let’s get to it!
Top 10 richest clubs in 2021 by value
Tottenham (2.3bn)
Tottenham hotspur comes in at the 10th position with a valuation of $2.3bn. The English club is owned by Joseph Lewis and Daniel Levy. They generated $494m last year.
PSG (2.5bn)
Paris St Germaine comes in at 9th position with a valuation of $2.5bn. The French league 1 giants generated more money than arsenal last year. They generated $599m. PSG is owned by an investment group, Qatar Sports Investments.
Arsenal (2.8bn)
Arsenal football club, another London side club comes in at 8th position with a valuation of $2.8bn. The club is solely owned by Stan Kroenke, an American Businessman who invests in sports and media. Arsenal generated $430m in 2020 making it the 8th most valuable club.
Chelsea (3.2bn)
Chelsea football club comes in 7th on the list with a valuation of $3.2bn. The London side club has retained its longstanding owner Roman Abramovich, a Russian Oligarch. Chelsea generated $520m last year.
Manchester City (4bn)
Manchester City, an English club with a long history of billionaire owners comes in at 6th position. The very successful English club generated total revenue of $609m last year. The club is valued at $4bn and is owned by Sheikh Mansour bin Zayed Al Nahyan.
Liverpool (4.1bn)
Liverpool comes in 5th at a $4.1bn valuation. The English club is the second wealthiest in England with a generated revenue of $619m. The club is owned by a joint partnership between Billionaire, John Henry and Tom Werner.
Manchester United (4.2bn)
Manchester United is the wealthiest English club on the list. The club is valued at $4.2bn, taking up the 4th position on the list. The club has been owned by a Jewish business family, the Glaziers for years. They are the largest shareholders and practically own the club. They generated $643m last year.
Bayern Munchen (4.215bn)
Bayern Munchen comes in at the third position with a value of $4.215bn. The German giants have bossed the German league for years. They generated $703m last year, coming in at the 3rd position.
Real Madrid (4.75bn)
Real Madrid Fc comes in at the second position. The football club which had previously dominated this list was edged out by bitter rivals, Barcelona. Real Madrid is valued at $4.75bn and the club is also owned by the club members. Real Madrid generated $729m, the same amount of revenue as Barcelona last year.
FC Barcelona (4.76bn)
Fc Barcelona is the most valuable football club in 2021 with a market value of $4.7bn. The club sits gallantly in the first position.
The Spanish giants generated a massive $792m in revenue last year and succeeded in holding on to their key player Lionel Messi. They also edged out Real Madrid and Man Utd who have dominated this list for 16 years. FC Barcelona is owned by the club supporters. It has no major shareholder or billionaire financier. The club has over 160,000 members forming its governing body.
What you should know
- 6 of the 10 richest clubs in the world are owned by billionaires; the rest are owned by club members and an investment group.
- In the last 16 years, the world’s richest football clubs list has been topped by only two clubs – Real Madrid and Manchester United.
- Football clubs generate revenues through advertisements, sponsorship deals, jersey deals and ticket sales. These are the 4 major revenue streams of a football club.
- The top 3 teams on the list – Fc Barcelona, Real Madrid and Bayern Munchen generated a combined revenue of $2.3bn in 2020.
