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A Call for Regulation of Nigerian Media Monitoring and Intelligence Industry
By Philip Odiakose
The Nigerian media monitoring and intelligence industry has witnessed significant growth and development in recent years. With the proliferation of digital media platforms, monitoring and analysing media content has become increasingly important. However, alongside this growth, concerns have arisen regarding the lack of regulation within the industry. This article explores the need for comprehensive regulations to ensure transparency, accountability, and ethical standards within the Nigerian media monitoring and intelligence sector.
Understanding Media Monitoring and Intelligence
Media monitoring and intelligence involve the systematic collection, analysis, and interpretation of media content, including print (newspapers and magazines), broadcast (TV and radio), OOH (out-of-home), and digital media (websites and social media). It serves as a valuable tool for individuals, organizations, and governments to track public sentiment, manage reputation, and gain insights into media coverage. Media monitoring and intelligence agencies utilize advanced technologies, including natural language processing and machine learning algorithms, to scan and analyze vast amounts of media data.
The Unregulated Landscape
Nigeria’s media monitoring and intelligence industry operates without clear guidelines or oversight. This lack of regulation has led to several concerning issues. Firstly, the absence of standardized practices and methodologies raises questions about the accuracy and reliability of monitoring results. Without established benchmarks, there is a risk of misleading or incomplete analysis, potentially compromising decision-making processes.
Secondly, the unregulated industry has allowed for the emergence of unethical practices. The absence of a code of conduct or professional standards leaves room for unethical manipulation of media data, such as cherry-picking information or distorting results to fit certain agendas. This undermines the integrity of media monitoring and intelligence and jeopardizes the credibility of the entire media landscape.
Thirdly, the unregulated nature of the industry has contributed to a lack of transparency and accountability. Currently, no mechanisms are in place to ensure that media monitoring and intelligence agencies handle data responsibly or protect individual privacy rights. This situation raises concerns about data breaches, unauthorized access, and potential misuse of personal information.
The Case for Regulation
Regulating the Nigerian media monitoring and intelligence industry is crucial for several reasons. Firstly, it would ensure the accuracy and reliability of media monitoring and intelligence services. Implementing standardized methodologies and quality control, measures would enhance the industry’s credibility and increase confidence in the results provided. In recent years, some organizations, such as P+ Measurement Services, have joined global associations like AMEC, FIBEP, and others due to the absence of local regulators and associations.
Secondly, the regulation would promote ethical practices and integrity within the sector. By establishing a code of conduct and professional standards, media monitoring and intelligence agencies would be accountable for their actions, reducing the risk of biased or misleading information being disseminated. This would foster a more transparent and trustworthy media monitoring environment.
Furthermore, the regulation would safeguard individual privacy rights and protect personal data. Data protection laws and guidelines could be put in place to govern the collection, storage, and use of media data. This would prevent unauthorized access and ensure individuals’ personal information is handled responsibly.
The Way Forward
To achieve effective regulation, collaboration among relevant stakeholders is crucial. Media monitoring and intelligence agencies, industry associations, government bodies, and civil society organizations should come together to develop a comprehensive regulatory framework. This framework should address standardization, ethics, data protection, and privacy issues.
Establishing an independent regulatory authority could play a pivotal role in overseeing and enforcing compliance within the industry. This authority would set guidelines, issue licenses, conduct audits, and address complaints. It would also provide a platform for stakeholders to voice concerns, seek clarification, and contribute to ongoing discussions on industry practices.
Conclusion
The Nigerian media monitoring and intelligence industry has immense potential for promoting transparency, accountability, and informed decision-making. However, there is a risk of compromising these essential objectives without adequate regulation. The urgent need for comprehensive regulations cannot be overstated. By implementing standardized practices, ethical guidelines, and data protection measures, Nigeria can ensure that media monitoring and intelligence services are reliable and responsible tools for individuals, organizations, and the government. Through collaborative efforts and establishing an independent regulatory authority, the industry can thrive while upholding the highest standards of professionalism and integrity.
Philip Odiakose is the Chief Analyst at P+ Measurement Services, a Media Intelligence Consultancy in Lagos State, Nigeria
By Modupe Gbadeyanka
The self-service channels of Stanbic IBTC Pension Managers designed to streamline processes and provide easy access to pension management services have been re-introduced.
The subsidiary of Stanbic IBTC Holdings Plc said it brought back the options as part of its commitment to enhancing customer experience by providing innovative solutions, putting them in control of their financial future.
The chief executive of Stanbic IBTC Pension Managers, Mr Olumide Oyetan, reiterated the firm’s dedication to improving pension management by enhancing ease and efficiency.
“By getting acquainted with and utilising these options to their fullest, customers can enjoy the benefits of flexibility and independence,” he stated.
Mr Oyetan further underscored the organisation’s commitment to leveraging technology to improve pension management for customers, ensuring the availability of the self-service channels 24/7 for checking account balances, updating personal details, or making enquiries seamlessly.
“These self-service channels empower customers to take control of their experience as we aim to meet and exceed their expectations through these user-friendly platforms,” he stated.
Business Post reports that one of such channels is MyPension Portal, accessible via the company’s website www.stanbicibtcpension.com.
It offers customers a user-friendly platform to manage their pension details effortlessly. This portal allows for easy updates of personal information, requests for reference letters to submit at schools and embassies, and the ability to switch between investment funds.
It also provides the convenience of accessing and requesting statements at any time, relieving customers of unnecessary stress and paperwork.
In addition, the Stanbic IBTC Pension Managers module on the Mobile App, available for download on Google Play Store and App Store, enables users to view their pension account balance, track contributions and investment performance, monitor recent transactions and contributions, and receive alerts for important pension account updates.
For those who prefer SMS access, customers can simply text “Help” to the shortcode 30388 from their registered mobile phone to receive instructions on performing various tasks via SMS.
The company has also streamlined the process for using contact numbers, allowing customers to connect to the Stanbic IBTC Pension Managers’ Interactive Voice Response (IVR) system for comprehensive guidance on a wide range of enquiries and transactions.
By Modupe Gbadeyanka
A report released by Salesforce has revealed that about $1.2 trillion was used for shopping across the globe during the just-concluded Christmas and New Year holidays.
It was stated that the United States accounted for $282 billion, with data based on an analysis of 1.5 billion shoppers and 1.6 trillion page views across the Salesforce Platform.
The report indicates that the better-than-expected holiday shopping season was powered by surges in mobile and social commerce alongside increased consumer spending after months of saving in the first half of 2024.
However, shoppers have already sent back $122 billion in merchandise, with consumers and retailers leaning into the use of Artificial Intelligence (AI) and agents to enhance holiday shopping experiences through product recommendations and personalised order support, influencing $229 billion – or 19 per cent – of all online orders.
“Retailers had a robust holiday season, but a 28% rise in the rate of returns compared to last year is a cause for some concern,” said Caila Schwartz, Director of Consumer Insights at Salesforce. “Retailers who have embraced AI and agents are already seeing the benefits, but these tools will be even more critical in the new year as retailers aim to minimise revenue losses on returns and reengage with shoppers.”
It was gathered that about $229 billion of global online sales were influenced by AI and agents in the form of product recommendations, targeted offers, and conversational customer service support, with 19 per cent of holiday purchases influenced by consumers engaging with AI and agents, a 6 per cent increase from 2023.
In addition, shoppers used AI- and agent-powered chat for customer service 42 per cent more than they did during the 2023 holiday season, and over $122 billion of global purchases have already been returned, up 28 per cent from last year.
It was noted that this increase is partially due to trending consumer behaviours like “try-on hauls” and bracketing (buying an extra size above and below your standard size).
Salesforce projects that retailers will likely see this number grow to $133 billion – presenting an important opportunity for brands to use agents to make the returns process easier and more tailored to specific customer needs.
By Modupe Gbadeyanka
A new Public Relations (PR) agency, FreshSight Communications, has promised to offer tailored services to its clients, as it joins the highly competitive industry.
According to the co-founder of the company, Mr Justice Mmadubugwu, FreshSight Communications will provide top-notch PR services tailored to meet the unique needs of businesses, organisations, and individuals seeking to amplify their brand presence and reputation.
He also expressed confidence in working with media partners to share compelling stories, promote innovative ideas, and spark important discussions that affect society.
“We are excited to introduce FreshSight Communications to the Nigerian market.
“Our goal is to become the leading PR agency for businesses seeking to establish strong relationships with their target audiences and stakeholders,” Mr Mmadubugwu stated.
FreshSight Communications said its services include media relations and crisis communications; brand management and reputation enhancement; digital PR and social media management; event management and planning; content creation and copywriting; and artist/influencers management.
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