We are in the era of the Knowledge Economy when universities are major players. This new Age of the Knowledge Economy is described by Jeremy Rifkin as the Era of the 4th Industrial Revolution (Industry 4.0).  At the core of it is digital transformation sweeping through all industries. The confluence of AI, Big Data and Connectivity is creating new industries out of old industries.  For instance, the new FinTech industry has evolved out of the old Banking and Finance industry.

Databases are major assets and source of wealth. Between Harvard University and MIT they have a database of millions of chemicals discovered and synthesized in USA.  This gives the two Ivy League partner universities enormous competitive advantage, academic and economic power.  There is no database of chemicals discovered and synthesized in Nigeria.  There is no up-to-date repository of research database and publications in Nigeria.   

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There is no warehouse of software applications for data analytics in most Nigerian universities.  There is no support structure for graduate students and researchers for experimental design, data quality assurance and control, and data analytics.  There is a deep reserve of experimental data waiting to be mined in our higher education institutions.  Data mining is a huge business opportunity that can generate enormous intellectual and financial capital.