Feature/OPED
Small Business or Big Business: Straightforward Ways to Improve Profitability
By Timi Olubiyi, PhD
As businesses grow, the chase is usually for profit maximization, they introduce new products or services, create new marketing plans, invest in human capital and technology, all for expansion, better returns, and to gain a competitive edge.
However, with all these efforts to maximize profits, the mechanism to survey and gauge customer feedback is most times missing. This is where customer experience comes in and it falls within the non-financial business performance indicator.
Customer experience is so important and yet business operators rarely pay attention to it, this is why I am giving my opinion on it for awakening. To me, understanding customer experience is as important as major efforts businesses consider to maximize profits.
Firstly, what do we mean by a non-financial business performance indicator? These are measures that cannot be expressed in monetary units, which are related to product or service quality, customer relationships, operations, and so on.
A good example is customer experience which a large body of knowledge sees as a significant determinant of business profitability and income.
Fundamentally, customer experience involves every aspect of business offering or operations— from the quality of customer care to patronage pattern, satisfaction, advertisement, the shopping environment, sales, ease to use or get products or services, and so on.
That said, one of the most significant elements in helping a business get to know its customers and to have a fair idea of patronage and customer experience is data. Invariably customer data can easily be used to gain different insights and in particular help, businesses to align with customer goals.
As important as customer experience measure is businesses hardly gather and process its data to improve business performance. Without doubts, if data on customer experience is well utilized it can improve the different aspects of business operations from sales performance to customer growth and even profitability.
From context observation poor customer data management practices are not just a small business issue, it involves large firms as well in Nigeria and indeed Africa.
Businesses usually guess customers’ needs without asking and analyzing what their interests are, the crucial impact of customer data on businesses is rarely considered. The place of measuring customer experience with data is generally missing in the most developing business environment and huge challenges exist majorly in Africa.
In recent times we have seen businesses introduce new products and services, even have price changes without reaching out to customers to determine their preferences or what types of changes they would like to see, the level of product or service expectations, and if they would be willing to pay more for them.
In a market or environment where substitute demands are readily available, businesses must endeavour to do more and consider evaluating customer experience from time to time
In fact, studies have shown that there is a wide gap between the percentages of businesses that make use of customer experience data and those that do not.
Businesses incur billions of money each year on unnecessary costs and even make losses due to the inability to easily access the right information from customers to manage customer expectations, experiences which in turn can improve decision making, profitability, and performance.
Additional findings show that businesses rarely gather and evaluate customer data to improve business operations. This is where customer analytics comes into the picture, just like the financial metrics, customer experience can serve as a leading indicator to gauge business performance and data from it can provide valuable insights as to its business impact on stakeholders, customers, and society.
Customer experience begins the moment customers visit a business website or physical location, and ends when they choose to no longer use the services of the business. Meanwhile, it is important to stress that a good customer experience leads to repeat purchases, patronage, brand loyalty, and positive word of mouth.
As a reminder, in any form of business, the customer is king, consequently, data from customers can be used to get insights and understand the performance of businesses and also make future trend predictions.
Customer analytics, also called customer data analysis, is the process of collecting and analyzing customer data to gain insights into customer behaviour. This can serve as a key indicator for understanding customer preferences, patronage patterns, customer profiles and it can allow businesses to understand customers better and make smart and well-informed business decisions. Simply put is helps to learn customer engagements and shopping experience, therefore businesses should strive to embrace it.
Customer valuable shopping behaviour insights, such as buying pattern, demand pattern, shopping trend, spending pattern, request data, time of shopping, time gaps between visits, repurchase pattern, preferences, peak shopping hours, and so on can be analyzed.
For business operators, particularly young entrepreneurs and solopreneurs, it is not sufficient to post an update on social media or WhatsApp status about your services or products, data gathering and simple analysis of feedbacks can help grow the small business.
For large firms, it can help make key business decisions, increase customer retention, predict customer behaviours, understand choices of customers per time, their product choices, and loyal customer tracking.
In fact, smarter decisions can be made by any form of business either large or small by adopting a data-driven approach to operations and customer experience. So, it is important to have a system that gathers data on customers to improve business performance.
So, to succeed in an unpredictable environment like ours, businesses must seek opportunities to understand customer experiences and get feedback from time to time for a smooth competitive advantage. More so, businesses need to have a process to continually analyze trends concerning actions, reactions, and transactions in their businesses for ease of forecasting and predictions.
A few leading companies and as big as Google and Facebook Inc, are with billions of users, yet they adopt customer analytics for improved performance, so why will a business with a manageable size of customers not join the trend to keep customers and avoid them switching to competitors.
In conclusion, business software and customer data analysis tools with trend analysis are one major helpful way to analyze customer experience and behaviour over a defined period and can generate valuable insights. This can be gathered through multiple interaction channels such as website visits, social media engagements (comments, likes, and shares), visit patterns (buying, spending, and needs), and payment history.
A better customer analytic is good for businesses in both the short term and long term because it will improve customer experience and give valuable predictive insights, which can lead to more sales, more loyalty, and in the end a healthy and profitable business. Good luck!
How may you obtain advice or further information on the article?
Dr Timi Olubiyi is an Entrepreneurship & Business Management expert with a PhD in Business Administration from Babcock University Nigeria. He is a prolific investment coach, seasoned scholar, Chartered Member of the Chartered Institute for Securities & Investment (CISI), and Securities & Exchange Commission (SEC) registered capital market operator. He can be reached on the Twitter handle @drtimiolubiyi and via email: dr***********@***il.com, for any questions, reactions, and comments
Feature/OPED
Building 234 Solutions: A Response to Everyday Workforce Challenges
By Owoloye Emmanuel
Every business starts with a problem. For us, that problem was hiding in plain sight.
Across organisations, we kept seeing HR professionals, payroll teams, and business leaders spend significant time navigating processes that should be simpler. Employee records sat across multiple systems, payroll processes required manual intervention, and routine workforce tasks often became more complicated than they needed to be.
As businesses grow, workforce operations naturally become more complex. Yet many organisations still rely on disconnected tools and workflows that create unnecessary friction for both employers and employees.
The consequence is more than operational inefficiency. HR teams spend valuable time managing systems instead of supporting people. Business leaders struggle to access timely workforce insights, while employees experience delays in processes that should be seamless.
These weren’t isolated challenges. They were recurring realities across workplaces, regardless of industry or size.
That observation led us to a simple question: what if workforce management could be easier?
What if HR, payroll, and workforce operations could work together within a single, connected experience?
That question became the foundation for 234 Solutions.
We are building 234 Solutions with a clear belief that workplace technology should reduce complexity, not add to it. Our goal is to help organisations spend less time navigating processes and more time focusing on productivity, growth, and people.
As we prepare for launch, our focus remains simple: building practical solutions for real workplace challenges and helping organisations create better experiences for the people who power them every day.
Owoloye Emmanuel is the founder of 234 Solutions
Feature/OPED
The Role of TV in Preserving African Stories and Identity
Scroll through social media today, and you will notice something interesting: everyone is either reacting to a series, quoting a movie line, or debating a character as though they personally know them. Beneath the memes and binge-watch culture, however, lies something deeper. Television remains one of the most powerful tools shaping how Africans see themselves, remember their history, and tell their own stories. In a continent as diverse and expressive as Africa, that matters more than ever.
TV as a Cultural Archive, Not Just Entertainment
Long before streaming algorithms began shaping our viewing habits, television was already preserving African identity. From Nollywood dramas that capture the rhythm of everyday Lagos life to documentaries exploring Maasai traditions and Ghanaian folklore, TV has served as a living archive of the continent’s stories.
It preserves more than entertainment; it preserves language, culture, humour, values, and shared experiences. Unlike fleeting social media content, television allows stories to unfold with depth, exploring the realities of family, tradition, ambition, and modern African life without reducing them to stereotypes. That is the power of TV: preserving not just stories, but perspective.
Why Representation on TV Still Matters
There is a subtle but important truth: if people do not see themselves on screen, they may begin to believe their stories are not worth telling. This is why African TV content is more than entertainment; it is affirmation.
Seeing a character who speaks like you, struggles like you, or celebrates like your community does something powerful. It validates identity and challenges outdated narratives that have historically defined Africa through external lenses.
This is where MultiChoice Group, through platforms such as DStv and GOtv, plays an important role. They do not simply broadcast content; they help distribute cultural memory at scale.
GOtv, DStv, and the Everyday African Viewer
Think about a typical evening in many African homes: the TV is on in the background, someone is laughing at a comedy show, another person is watching a local series, and someone else is catching up on the news. That shared viewing experience remains very real.
Through platforms such as DStv and GOtv, African households are exposed to a blend of local storytelling and global content. More importantly, they have helped amplify African-produced content by bringing Nollywood films, African reality shows, talk shows, and documentaries into mainstream rotation.
It is not just about access. It is about visibility.
A young filmmaker in Lagos today is more likely to believe their story matters because they have seen similar stories broadcast widely. A child in Accra grows up hearing familiar accents and seeing environments that look like their own on screen, not as exceptions, but as the norm.
TV Is Also Shaping Modern African Identity
African identity is not static; it is evolving. Television reflects that evolution in real time.
Today, audiences see:
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Young Africans balancing tradition and modern dating culture
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Stories tackling mental health in African households
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Fashion and music influences spreading through TV series
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Political satire shaping public conversation
Conversations that were once confined to homes are now being explored on screen, giving audiences the language to discuss issues that were previously unspoken.
In many ways, television is doing what oral tradition has always done: passing stories, values, humour, warnings, and history from one generation to the next. The difference is that today’s griots are writers, directors, and broadcasters.
The Future: From Watching to Owning Our Narratives
The next stage of African storytelling is not just about being seen; it is about ownership.
As more African creators produce content and platforms continue to invest in regional storytelling, television becomes more than a mirror. It becomes a tool for shaping how Africa is represented to itself and to the world.
While streaming continues to grow, television, particularly accessible platforms such as GOtv, remains one of the most effective ways to reach everyday audiences across different income levels and regions. After all, storytelling only matters if people can access it.
African stories are not new. They have always existed in families, on streets, in markets, in history books, and through oral traditions. What television has done, and continues to do, is give those stories a stage wide enough for millions to experience them at once.
The next time you watch a local series or documentary on DStv or GOtv, remember that you are not just being entertained. You are participating in the preservation of African identity itself.
Feature/OPED
The Future of AI in Nigerian SMEs: Overcoming Barriers to Implementation
By Kehinde Ogundare
Ask a tech entrepreneur in San Francisco what AI means for their business, and they are likely to talk about competitive advantage, product differentiation, and scale. Ask a small business owner in Kano or Onitsha the same question, and the conversation shifts entirely.
For many Nigerian SMEs, the priority is keeping the lights on, managing costs, and finding sustainable ways to grow in a challenging economic environment. This difference in perspective explains why the global AI conversation, often shaped by assumptions about stable infrastructure, deep capital, and abundant technical talent, frequently fails to address the realities facing Nigerian SMEs.
This matters because Nigerian SMEs are not a peripheral concern. In 2024 alone, MSMEs contributed 46.32% to Nigeria’s GDP, accounting for 96.9% of businesses and 87.9% of employment. These businesses are the backbone of the Nigerian economy, and if AI is going to mean anything for Nigeria’s development, it has to work for them in the daily conditions they actually operate in.
However, research drawing on empirical data from 144 Nigerian SMEs found that inadequate infrastructure, low digital literacy, skills shortages, and regulatory gaps are collectively preventing them from meaningfully engaging with AI. Awareness of AI is high and growing. What is missing is a clear and honest conversation about what adoption actually requires in this specific context. The barriers are real, but none of them are insurmountable. The question is whether the tools, pricing models, and support structures being offered to Nigerian SMEs are designed with those barriers in mind, or whether they have been built for another market entirely.
Subscription models making AI affordable for small businesses
When most small business owners hear “AI,” they imagine expensive software, specialist consultants, and a hefty upfront bill.
That assumption is not entirely wrong, but it describes a particular way of buying technology, not AI itself. The shift that makes AI genuinely accessible at the SME level is the move away from large, one-time capital purchases towards tools that charge a predictable monthly subscription. Businesses can pay for what they use, scale back when necessary, and avoid the debt that a major technology investment can create.
The deeper opportunity here is consolidation. Many SMEs are already spending money across multiple disconnected tools—one for invoicing, another for customer records, another for stock tracking—none of which talk to each other. An integrated platform that handles several of these functions together, with AI built in, can actually cost less than the sum of those separate subscriptions while giving business owners a clearer picture of their operations.
With margins already under pressure, any technology a business adopts needs to visibly show an increase in productivity or bottom line. Subscription-based, integrated platforms, priced transparently and honestly, are the model that best fits this reality.
Infrastructure challenges demand a mobile-first approach
No conversation about technology in Nigeria is complete without confronting the infrastructure problem, and AI is no exception. Nigeria continues to face major infrastructure barriers, including limited broadband access, unreliable power supply, and high data costs, all of which constrain deeper AI adoption. These are structural features of the operating environment that any sensible technology strategy must account for today.
The electricity situation alone is significant. The World Bank estimates that the lack of stable electricity costs Nigeria’s economy approximately $26.2 billion annually, equivalent to about 2% of GDP, forcing many businesses to run on expensive diesel generators. That cost ripples outward.
In practical terms, AI tools built for Nigeria cannot assume a stable broadband connection or a computer that is always powered on. The tools that will actually get used are the ones that work on a smartphone, consume minimal data, and can function offline when connectivity drops, syncing back up when it returns. The mobile phone is already how many Nigerian SME owners run their businesses. AI that meets them there, rather than demanding infrastructure they do not have, is AI that has a genuine future in this market.
The direction is clear: build capability from within, using tools that make that possible. Recent AI performance research reveals that 64% of African workers are already actively using AI at work, signalling massive grassroots readiness and driving forward-thinking organisations across Nigeria, Kenya, and South Africa to aggressively prioritise internal upskilling frameworks to bridge the talent gap.
As the policy groundwork is being laid, the commercial ecosystem is beginning to respond. What remains is a clear-eyed acceptance that AI tools built for this market need to look different from those built for markets with different realities. Low cost, low bandwidth, and usability for non-technical people are not modest ambitions; they are the actual requirements. Build for those realities, and AI has a real future in Nigeria’s SME economy.
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