Globally, we create over 2.5 quintillion bytes of data daily, and that figure is growing. With all of that data being generated, should the Caribbean region generate more data than it is currently doing?

 

In our most recent weekly roundup of ICT/technology news from across the Caribbean, which was published earlier this week, it would be easy not to bother to read the article, Technology Hub Flagship Admits Problems But No GB Pull-Out, as the title seems to tell you everything you need to know. However, in reading the article, a key reason for the challenges GIBC Digital has been experiencing was explained. According to Greg Wood, GIBC Digital’s chief executive, the company had overestimated demand for its services:

Developing business in The Bahamas continues to be a challenge, and we have had to make adjustments, as businesses do.. “We overestimated demand for the transformative work we do, and unfortunately, we’ve had to reduce staff to align with current demand, but the suggestion that we are leaving is simply not true.

(Source:  Tribune)

The experience of GIBC Digital is quite common across the Caribbean. When starting or running a business, one of the most glaring challenges that frequently is experienced is the absence of data upon which to make informed decisions. As a result, many business leaders and entrepreneurs tend to rely upon personal opinions (of  friends and family) and anecdotal observations – very little of which is based in fact. Moreover, they tend to allow themselves to get buoyed in their enthusiasm for the project, and may not truly challenge themselves to examine the situation critically.

Data does not just materialise when we need it

Having said this, what are we, individually and as organisations, doing to improve the data with which we have to work, and correspondingly, our decision-making processes? For many of us, we are doing very little, but there seems to be an expectation that the data is available, and all we have to do is ask for it. Typically, that is not the case.

What many of us tend to overlook is the fact that the data we might need does not automatically exist. Systems are required to generate and collect it, such as through intake forms and surveys. Thereafter, it needs to be processed and analysed to convert it to valuable information. In essence, it takes resources to have access to good data.

However, even when organisations can benefit from having access to better data, many of them are not prepared to invest – whether in-house, or by contracting a third party – in providing this critical input to their internal intelligence and decision making processes. Further, simple and cost-effective data collection and processing tools, such as using Microsoft Excel, are readily available, so price point really cannot be an excuse. Hence, the true underlying reason may have more to do with the culture and priorities across Caribbean organisations, where as much as business leaders might want more fact-based information, there is a disconnect as to how it can be realised.

Hoarding of information still tends to be prevalent in Caribbean governments

It is also important to note that governments collect considerable amounts of data, across all sectors and segments of the society:  births, deaths, imports, exports, unemployment, rainfall, marine conditions, agricultural yields, to name a few. However, much of this data has not been made publicly available, and it can quite onerous, even downright impossible, to get access to that data.

Although historical records may still exist as dusty files in an archiving space, many governments have been unwilling to share their digital records, or to make them publicly available, such as under an Open Data policy. It could thus be argued that this posture by government does not augur well in nurturing a more data-centric society, where both the public and private sectors actively leverage data to achieve greater insights and more robust strategies.

Parting thoughts

In summary, although the world has been and will continue to produce exponential amounts of data, the Caribbean region still has not been producing enough relevant data. In data becoming the new oil, it is critical for us to become more robust, competitive and responsive, consistent with current technological developments and the wider societal transformation that has been occurring. However, whilst this matter is not yet being given the attention or investment it deserves, the underlying impetus appears to be absent; and until there is the will and desire to become more data-driven, the status quo will remain.

 

 

Image credit:  Jonny Lindner (Pixabay)