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**Harnessing Data: Transforming Business, Finance, and Space Exploration**

Published: 2024-07-18

Daily Open Data Digest: Changing Business, Money, and Space Exploration

Today, we see how open data and digital change are helping different fields grow and solve problems. Let’s look at how businesses, banks, and space research use data and technology to improve.

Business:

Chukwuma Nwanze, the boss of Credit Direct, talked about how Nigerian businesses can survive tough times. He spoke at the BusinessDay CEO Forum. Nwanze said technology and digital tools are key to meeting customer needs and growing. Credit Direct uses AI to make smart credit choices and digital ways to serve customers. Nwanze told business leaders to understand what customers want and use data to stay ahead. The forum also had talks from the Central Bank of Nigeria about making a strong banking system.

Finance:

The financial world is changing with smart transactions. These new ways are safer, faster, and clearer than old methods. AI and blockchain help make these changes. Smart transactions use tools like smart contracts and blockchain to automate tasks and reduce risks. This makes it easier for businesses to make good decisions and be flexible.

Mastercard is helping in Uzbekistan by promoting contactless payments and teaching people about money. They are making it cheaper to travel with cards and giving free software to small businesses to accept payments by phone. They also offer special business cards. These steps aim to make payments safe and easy, fight cybercrimes, and improve air quality by encouraging public transport. With over 225,000 Mastercard cards in use, the company is making Uzbekistan better for tourists and easier for international deals.

Space Exploration:

NASA’s 2024 Space Apps Challenge is the biggest global hackathon. It invites people to use NASA’s data to solve problems on Earth and in space. This year’s theme is “The Sun Touches Everything.” Participants can join in person or online to work on projects and win global awards. Supported by many space agencies and funded by NASA, this event shows how important open data is for innovation.

Indian astrophysicist Prahlad Chandra Agrawal won the COSPAR Harrie Massey Award 2024 for his work in space research. He is the first Indian to get this honor. Agrawal was key in the AstroSat project, India’s first space telescope, which made big discoveries about black holes. He also worked on India’s Moon mission, Chandrayaan 1. His work is so valued that a Minor Planet is named after him.

The Power of Open Data:

Today’s news shows how open data and technology are changing many fields. From business and finance to space research, data and digital tools help us move forward. Understanding open data is important for everyone. These projects promote transparency, foster innovation, and help make informed decisions.

For example, the Open Government Partnership (OGP) shows how public trust can make open data projects successful. In countries where the government is open and involves citizens, people trust the government more. This trust leads to more citizen participation and better open data projects.

Another example is open data in healthcare. During the COVID-19 pandemic, open data helped track the virus, allocate resources, and develop vaccines. Public understanding of these efforts built trust in the data and actions taken to fight the pandemic.

By staying informed about open data, people can see its value in solving complex problems. This knowledge can lead to more engaged communities, driving progress and resilience in many areas.

https://dailypost.ng/2024/07/18/fcmb-unit-ceo-calls-for-innovation-resilience-amid-economic-challenges/

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