Follow Us on Google
•Strategy to monitor crime unveiled
From Isaac Anumihe, Abuja
Following the loss of N2.09 billion in the fourth quarter of 2023 through fraudulent online activities and the increasing rate of crimes across the country, the Federal Government, yesterday, said it has devised a means of nipping crimes in the bud.
Speaking at the launch of Big Data and Data Science during the First Bi-Annual Meeting of National Consultative Committee on Statistics (NCCS), in Keffi, Nasarawa State, the Statistician General (SG) of the Federation, Adeyemi Adeniran, said that a N2.09 billion loss was contained in a report by the Financial Institutions Training Centre (FITC).
He added that with the deployment of the techniques, crime rate can be reduced significantly.
“While the benefits and potential of Big Data and Data Science are endless, however, harnessing its power comes with its own set of challenges and considerations. First, we must Invest heavily and sustainably in the necessary infrastructure to effectively collect, store, manage, analyse, and disseminate this vast amount of information available within the system.
“We must also develop a statistical system that is awash with personnel skill in data science, statistics, and data engineering, and this should be done sustainably and efficiently, across all levels, of federal, state, and local government. Furthermore, we must ensure responsible data governance that addresses privacy concerns, ethical considerations, and data security, particularly for personal details contained in these records,” he said.
According to SG, data science can monitor the performance of the economy – whether the economy grows or stagnates, or whether an individual makes progress and regresses. It uncovers trends and patterns invisible to traditional methods.
“The emergence of Big Data and data science is a major game-changer in the way we handle data, in terms of how we collect, process and disseminate the data. It presents us with vast opportunities to collect, analyse, and disseminate data in ways that were previously impossible.
“For decades, conventional statistics have been the backbone of our national planning, policy formulation, and development progress. We have meticulously collected and analysed data, painting a clear picture of our nation’s social and economic landscape.”
“However, the world around us is changing, and changing rapidly. We are generating data at an unprecedented rate, much more than we have ever done in our lifetime – from mobile phone usage to social media interactions, sensor networks to financial transactions. This avalanche of information, often unstructured and complex, is what we call Big Data.
“Big Data alone, however, isn’t enough, and that is where Data Science steps in and makes a difference. It is a powerful blend of statistics, computer science, and subject matter expertise. It equips us with the tools and techniques to unlock the hidden insights within this vast data ocean. Insights that very often can make a difference in whether a businessperson makes a profit or loss; whether the economy grows or stagnates, or whether an individual makes progress and regresses.
“With the application of Data Science, we can uncover trends and patterns invisible to traditional methods, leading to more informed decision-making and better socioeconomic outcomes for the citizens,” Adeniran explained.
Explaining further, the NBS chief executive noted data science can predict trends (crime and economy) with accuracy.
“We can predict future results with much greater accuracy and precision, enabling proactive planning and risk mitigation. We can also personalise services and interventions to better serve the diverse needs of our citizens,” he said..
Earlier, the Nasarawa State Governor, Abdullahi Sule emphasised that data science can help in sectors such as agriculture, healthcare and finance. However, he said that the government should invest in data so as to function more effectively.
“In Nigeria, we have already seen the potential of Big Data and Data Science in various sectors such as finance, healthcare, and agriculture. For example, the use of data analytics has helped financial institutions to detect fraud and improve risk management. In healthcare, data science has enabled the development of predictive models for disease outbreaks and improved patient outcomes.
“However, there are still challenges to be addressed. We need to invest in infrastructure, develop the necessary skills and expertise, and ensure data privacy and security,” Sule said.
