Affiliation:
1. University of Ibadan, Nigeria
Abstract
Micro Finance Banks (MFBs) generate enormous amounts of data from their daily business transactions, which has the potential to help them make better decisions. There is, however, a dearth of information on how well MFBs in Nigeria have adopted BDA. The present study investigated the level of adoption of big data analytics (BDA) by MFBs in Ibadan, the capital of Oyo State, Nigeria. Using a descriptive survey design, the study collected data from twenty-eight licensed microfinance banks in the metropolis. Data was analyzed using Microsoft Excel 2019 and Statistical Package for the Social Sciences (SPSS) Version 20. Findings, amongst others, revealed that the BDA adoption index of MFBs in Ibadan is low (1.93 on a scale of 1 to 4). It was recommended that the Central Bank of Nigeria could make policies that would promote, encourage, and mandate proper big data adoption among MFBs in Nigeria.
Reference47 articles.
1. Amakobe, M. A. (2015). The Impact of Big Data Analytics on the Banking Industry. Colorado Technical University, 1–5.
2. Are Nigeria SMEs Effectively Utilizing ICT?
3. Opportunities and challenges for big data analytics in US higher education
4. Ayers, R. (2020). How Small Businesses Can Take Advantage of Big Data. Business. https://www.business.com/articles/data-analysis-for-small-business/
5. Bhagat, V. (2020). Datafloq: Datafloq is the One-Stop source for Emerging Tech – Contact Us. https://datafloq.com/contact/