C&I Leasing Plc (C&I Leasing) has partnered with the Nigerian Stock Exchange (NSE) to underscore the need for organisations to leverage market data products and available partnerships to launch customer-centric offerings that would boost the confidence of investors in the market.
The country’s foremost leasing and ancillary services conglomerate, on Wednesday, joined industry stakeholders at the 4th edition of the NSE Market Data Workshop to deliberate on the role and influence of “big data” in business and investment decisions.
The event, which took place at the Harbour Point in Victoria Island, Lagos, had the theme: ‘’Partnerships, Products and the Customer”.
Oscar Onyema, Chief Executive Officer of the NSE, said despite the growth potential in the usage of financial market data and analytics the world over, there remains a low inclination towards investment in Nigeria.
The helmsman of the Lagos bourse cited “low retail investment appetite,” stemming from a lack of adequate knowledge of products and the benefits for retail investors.
According to Onyema, the problem gives rise to the need for creating product offerings that promote diversity in investment, manage risk and make the information readily available to consumers.
“Exchanges and Data Vendors are already responding to this increasing demand using new tools for market data products,” he said.
The ability to make effective data-driven decisions is crucial for business operations within an organization, owing to the rapidly shifting market landscape in Nigeria and Sub-Saharan Africa, said David Ogunsola, Head, Information Technology at C&I Leasing.
According to him, it is important for companies to key into accurate data and qualitative assessments gleaned from the industry they operate in and identify gaping holes in customer satisfaction that outsiders may prey on.
“Rigorous analysis should be used to drive decision making and adapted in a timely manner, and in this regard, third-party market research can protect you in more ways than one,” he said.
The C&I Leasing executive said questions about customers, advert, consumer interest, pricing, products and services can only be answered by market data.
Ogunsola further reiterated that C&I Leasing had keyed into the Investor Relations (IR) Data Pack launched by the NSE recently, which is an integration of historical market data, analytics and “real-time” feeds that would provide robust market information fundamental to instilling confidence in the minds of investors.
“Data is important to C&I Leasing Plc, in terms of looking at probability, forecasting, researching and transcending what we do currently into what the future business holds,” he added.
“The world of big data is challenging but insightful and we are using this insight to propagate our business and become more profitable for existing and potential investors.”
