Experts in the field of data analyses have identified availability of accurate data and technology as major tools to boost businesses during economic recession.
The Chief Executive Officer of Terragon Group, Mr. Elo Umeh, said this at the second edition of Terragon – Lagos Business School, LBS, breakfast forum while speaking of the need to making data work for marketing activities in a theme “Smart cities: Strategic positioning in the time of recession”, in Lagos.
According to Umeh, “The value of marketing technology lies in what it enables — a customer’s ability to engage with a brand wherever they are and the platform they favor at that moment.”
“To earn customers’ trust in your brand, you need to leverage data. Tapping into the power of data and mobile enables businesses take marketing beyond awareness and lead generation to driving sales and conversions.”
According to him, this year’s topic was set to engage participants on the conditions in which a megacity like Lagos can help drive innovation, harness the value of the millions of mobile connections in the metropolis by using the power of data and technology for efficiency in a time of recession.
Guest speakers for the event were Mr. Ramon Ferrer, A former Deputy CIO and former Smart City Director of the Barcelona City Council (2012-2015) and Professor Joan Enric Ricart, a Professor of Strategic Management and Chairman of the Strategic Management Department at the IESE Business School.
Describing a smart city, Professor Joan Enric Ricart, said it’s the Integration of software, services and technology to improve resource efficiency in homes, buildings, utilities, transportation infrastructure.
“Technology in isolation is unlikely to make a city smart. In any case, people will be choosing cities for more than its technology. Only when the technology is connected to the needs and aspirations of citizens will its full potential be realized,” he said.
Speaking on “Smart City Vision: an opportunity for transformation”, Mr. Ramon Ferrer said there is a need to kick start the dialogue for making Lagos a Smart City.
According to him, “Barcelona is the first global smart city and the journey to this success took 30 years. With the current level of technology advancement/discussions in Lagos, the right alliances, industry partnership and a strategic plan can fast track the process to earning the smart city status within a quicker period”
Earlier, the CEO of Teragon, has stated that the Terragon – LBS breakfast forum #TheDigiSeries was borne out of a partnership with both organizations.
He said it was designed for Senior Management audience across various sectors, addressing the possibilities within the digital ecosystem and how businesses can harness the opportunities through globally competitive solutions that are locally relevant in a highly competitive economy.
The first edition held in November last year at the Lagos Business School. The guest speaker was Professor Vincent Onyemah, A Marketing Professor at Babson College, United States, who delivered the keynote address titled, “Crafting a Selling Strategy for High Sales Growth”.
