BIG DATA ANALYTICS AND STRATEGIC DECISION-MAKING IN NIGERIAN FINANCIAL INSTITUTIONS
Résumé
This study examines the relationship between big data analytics (BDA) and strategic decision-making within Nigerian financial institutions, a sector that has undergone rapid digital transformation in response to the proliferation of mobile banking, electronic payments, and regulatory pressure for greater transparency. Drawing on a survey of 384 management and analytics staff across selected deposit money banks and lending firms in Lagos and Abuja, the research employed a cross-sectional descriptive and inferential design. Two objectives guided the inquiry: to determine the extent to which big data analytics capability influences the quality of strategic decisions, and to assess the effect of analytics-driven insight on organisational competitiveness. Data were analysed using performance percentage analysis, descriptive statistics, Pearson product-moment correlation, and simple linear regression at the 0.05 level of significance. Findings revealed a strong, positive and statistically significant relationship between big data analytics capability and strategic decision quality (r = 0.74, p < 0.05), and a significant positive effect of analytics-driven insight on organisational competitiveness (β = 0.69, p < 0.05, R² = 0.476). Percentage analysis indicated that 79% of respondents affirmed that analytics had improved the timeliness and accuracy of strategic decisions. The study concludes that big data analytics is a decisive enabler of evidence-based strategy in Nigerian banking, although data-quality limitations, infrastructure deficits and skills shortages constrain its full realisation. It recommends sustained investment in integrated data-management systems, talent development, and a robust data-governance framework aligned with regulatory expectations.
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