Integrating analytics key to transform financial systems, business operations – Monisola Ayankoya

In today’s interconnected and fast-evolving global economy, integrating data analytics into financial systems and business operations fundamentally reshapes how organisations make critical decisions. From large corporations to startups, data analytics has transcended its traditional role as a support function, becoming a key component of business strategy.

Organisations that leverage analytics within their financial and operational frameworks are optimising costs, improving efficiencies and enhancing customer experiences by utilising behavioural data and predictive insights.

Data-driven decision-making is becoming more essential in light of ongoing economic fluctuations, currency instability, and infrastructural challenges, especially in emerging markets.

The ability to anticipate trends, mitigate risks, and optimise resources is crucial for businesses to thrive in this uncertain environment. Data analytics has become a tool of necessity, enabling organisations to respond to these challenges with greater agility and precision.

For example, in the financial sector, banks increasingly deploy advanced data analytics to enhance fraud detection, improve customer segmentation, refine credit scoring models, and create more accurate digital lending solutions.

Financial institutions can better understand market risks and customer behaviour by utilising predictive analytics. This allows them to provide tailored financial products that improve customer satisfaction and loyalty.

“Analytics goes beyond interpreting historical data. It empowers organisations to anticipate trends, mitigate risks, and seize future opportunities. For businesses, analytics transforms into a strategic compass, enabling data-driven decisions that drive efficiency, resilience, and sustainable growth,” said Monisola Beauty Ayankoya, a Business Analytics expert.

Ayankoya earned a Bachelor’s degree in Banking and Finance from Adekunle Ajasin University and holds a Master of Science in Statistics and Analytics from the University of Arkansas, where she also works as a senior graduate Assistant.

She specialises in Business Analytics, leveraging data-driven insights to optimise financial systems, streamline operations, and support strategic decision-making.

In regions like Nigeria, where constant inflation, foreign exchange fluctuations, and regulatory instability are constant challenges, leveraging data analytics becomes even more crucial. Despite these challenges, businesses in emerging markets increasingly turn to data analytics to improve their operations and better serve their customers.

As Nigeria continues to move towards a more digitised economy, particularly with initiatives such as the Nigeria Startup Act and digital banking licenses, integrating data analytics will play a pivotal role in fostering a competitive business landscape.

Beyond the financial sector, data analytics is driving performance improvements across various business functions, especially in supply chain management, human capital efficiency, and operational performance analytics.

Aligning the adoption of analytics in Nigeria with national strategies such as the National Digital Economy Policy or the Economic Recovery and Growth Plan (ERGP) can help drive public finance transparency, optimise tax revenue, and empower SMEs. By promoting data-driven decision-making, these policies can foster greater innovation, enhance transparency, and strengthen domestic and global competitiveness.

Integrating analytics into financial systems and business operations is not merely a technological upgrade but a fundamental transformation that enables businesses to achieve long-term success.

Organisations can unlock efficiencies, improve profitability, and contribute meaningfully to economic development by aligning people, processes, and platforms around data. As the global economy faces uncertainties, organisations that invest in data analytics will be better equipped to respond swiftly to market changes, optimise operations, and drive profitability.

“As the global economy increasingly depends on data-driven decision-making, my work aims to help US businesses lead the way in optimising operations and financial systems, driving economic growth, and fostering innovation in the financial sector. By implementing data-driven strategies, businesses can not only optimise internal processes but also contribute to broader economic resilience and sustainability,” said Ayankoya.