Big data will be beneficial to developing nations

Though the idea has been around, underdeveloped nations are quite sluggish to adopt technology as the globe does. Big data is the newest hot topic that must be integrated into developing economies, and Botswana must play a significant role in doing so through the 4IR programs (Fourth Industrial Revolution).

Your smartphone is your go-to device for transactional banking, information sharing, scheduling events, placing food orders, and performing any other tasks. Policymakers currently utilize the kind of information submitted here as a tool to direct decision-making. Online payment methods like Apple Pay and Google Pay are common illustrations of this. Unfortunately, financial institutions in Botswana are still lagging behind their South African counterparts in adopting these cutting-edge capabilities.

These payment methods, for the benefit of those who haven’t heard of them, allow you to use your phone to pay for products and services because your digital bank card is connected to your “phone wallet.” It is possible to pay for event tickets, rail tickets, boarding passes, and other things online, avoiding paperwork and minimizing the environmental impact of the often-mentioned fight against climate change. The same sets of data that are displayed on our cellphones for the products we frequently buy might power e-commerce and be very helpful to the business community.

Tourism presents yet another possibility because it is undergoing constant change in this era of information. The finest definition of how to make use of such chances should come from Botswana, a country where the tourism industry significantly boosts the national economy. Businesses can now predict consumer purchasing patterns and create tourism packages tailored to different tourist groups by using data obtained from customers’ digital footprints, both from domestic and foreign tourists. They may take advantage of busy times, and this kind of understanding would be really helpful today because it would allow us to look for chances that the business community did not have access to before the information era.