“From subway trains and wind turbines to toilet seats and toasters — all sorts of devices are becoming sources of data.” Mining EconomicPotential Nigeria
Data mining is a process used to extract usable data from a larger set of any raw data for information sharing, among others. Speaking in Lagos, at a financial inclusion forum organised by Eyowo Integrated Limited, the Chief Customer Architect and Data Scientist at Oracle, Dr. Olufemi Oyenuga, said data remains the world’s most valuable resource.
“The new economy is more about analysing rapid real-time flows of often unstructured data: the streams of photos and videos generated by users of social networks, the reams of information produced by commuters on their way to work, the flood of data from hundreds of sensors in a jet engine.“From subway trains and wind turbines to toilet seats and toasters — all sorts of devices are becoming sources of data.
He explained that data driven innovation strategy involves managing, acquiring and applying.Furthermore, Chief Executive Officer, Eyowo, Tomi Amao, reiterated the company’s vision with the purpose of solving financial inclusion problems and making daily transactions seamless for businesses in Nigeria.
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