MPC Meeting: CBN Maintains A Dovish Stance Towards Market Keeping MPR Stable at The First MPC Meeting of The Year 

ZedCrest Capital
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MPC Meeting: CBN Maintains A Dovish Stance Towards Market Keeping MPR Stable at The First MPC Meeting of The Year 

The FGN bond market traded on a very calm note, although with a bearish tilt as market participants anticipated the outcome of the MPC meeting that was concluded today.

We saw local investors maintain their demand bias for short duration bonds, with emphasis on the 2024s and 2026s papers, which traded around 6.10% – 6.30% and 7.30% – 7.40%, respectively. We also saw little action on the 2045 bonds, with trades executed around 9.80% – 9.90%.

Consequently, yields expanded by an additional c.12bps D/D on the average across the benchmark curve.

We expect some buying interest to resume tomorrow in reaction to the CBN’s dovish stance at today’s MPC meeting. 

Treasury Bills

The Treasury Bills market continued on a bearish run despite the inflows from OMO maturities credited into the system today. Traders remained firmly offered on short and mid-dated bills at low yields, which was shunned by real buyers who preferred the longest-dated bills offered at attractive levels.

The January 2021 OMO bills remained the most sought-after T-bills, with the bulk of market trades executed around 3.40%- 3.70% levels during the trading session.

We expect market attention to turn towards the PMA NTB auction scheduled for tomorrow while market participants continue to cherry-pick on selected bills offered at attractive levels. 

Money Markets

System liquidity opened today with an estimated figure of +N250bn, as money market rates recoiled by an additional c. N113bps on average due to a reduced funding pressure at the market today. Consequently, OBB and OVN rates closed the day lower at 4.50% and 5.25%, respectively.

We expect funding rates to oscillate in tandem with the available system liquidity in the short term. 

FX Market

Volumes traded in the I&E FX window went up by over 172% with over $108.34mio changing hands D/D, while the Naira appreciated by N0.50k to close at N394.00/$, with intraday rates ranging within a low of N390.00/$ and a high of N396.00/$. Likened to the I&EFX segments, the Naira also appreciated at the parallel market by N1.50K boosted by the FX supply from weekly collections by the BDCs from the Apex bank. 

Eurobonds

It was a typical bearish session in the NIGERIA Sovereigns, with some profit-taking action seen, especially on the mid-and long-tenor papers causing yields to expand slightly by c.3bps on the average across the sovereign curve.

At the SSA space, the Angola 2025s remained weak for the second consecutive day as sellers continue to improve offers in another profit-taking driven session for the paper.

In contrast to the Sovereign papers, the NIGERIA Corps papers were bullish although still maintaining a tranquil trading session with significant movement seen on the Zenith 2022s paper, which declined by -c.40bps D/D.

Whilst proper and reasonable care has been taken in the preparation and accuracy of the facts and figures presented in this report, no responsibility or liability is accepted by Zedcrest Capital or its employees for any error, omission, or opinion expressed herein.

This report is not a piece of investment advice or a research recommendation and should not be regarded as such. The information provided herein is by no means intended to provide a sufficient basis on which to make an investment decision.

Local Equities Rebounds…Investors Gained N259.45bn

Brand Spur
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Local Equities Rebounds…Investors Gained N259.45bn

The Nigerian equities market traded on a positive note as investors position for earnings release. The benchmark All Share Index (ASI) went up by 121bps to close at 41,584.94 with market capitalization adding N259.45bn to settle at N21.75tn. In summary, the Year-to-Date (YtD) performance improves to 3.26%.

Sectoral indices tolled different part with 3 of the 5 sectors under coverage closing positive. Notably, the insurance, consumer goods and industrial indices advanced by 0.40%, 0.54% and 0.25% buoyed by positive sentiments in AFRINSURE (+9.09%), CHAMPIONS (+9.81%) and WAPCO (+3.77%). Conversely, Oil & gas and banking indices waned by 5.31% and 0.14% following losses in SEPLAT (-9.26%) and ZENITH BANK (-0.94%).

Local Equities Rebounds...Investors Gained N259.45bn Brandspurng

Investors’ sentiment was also positive as 32 stocks advanced while 19 stocks declined to indicate a 1.68x market breadth. Market activity level improves as both the volume and value of transaction advanced by 40.47% and 110.79%. Investors traded a total of 467 million units of shares valued at N5.57billion.

Fixed Income Market

The bond market traded on a negative note with yield advancing across different maturities. The yield on the FGN-MAR-2025 and MAR-2035 advanced to 6.68% and 9.90%
Treasury bills market traded on a quiet note as yield remained stable on the 90-day and 364-day maturities.

OBB and OVN rate compressed to 4.50% and 5.25% respectively amid sustained buoyant system liquidity.

Market Snapshot

  • Local Equities Rebounds…Investors Gained N259.45bn
  • The bond market traded on a muted note as yield maintain stable across maturities
  • U.S. Stocks Traded Positive on Vaccine Hope
  • Oil Wavers With Concerns Lingering Over China Consumption
  • Naira lost N3 against the USD at the parallel market to close at N480/$

5 Ways Your Data Could Be Hurting Customer Retention

Dun and Bradstreet
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5 Ways Your Data Could Be Hurting Customer Retention

According to a now-classic article in the Harvard Business ReviewExternal Website. Opens New Window, depending on the study and what industry you’re in, acquiring a new customer is anywhere from five to 25 times more expensive than retaining an existing one. Further, the authors point to research that shows increasing customer retention rates by just 5% increases profits by 25%-95%!

Holding on to the right customers is certainly a smart move. That’s why so many companies invest in customer retention.

5 Ways Your Data Could Be Hurting Customer Retention Brandspurng

Managing churn is imperative for growth

Churn is when your customers leave you, usually for a competitor. Managing churn is incredibly important, first from a revenue standpoint. Losing a customer means you’ve also lost the revenue from that customer. Second, depending on their reasons for leaving, departing customers can cause damage to your company’s reputation.

Often, the reason that customer churn occurs is that companies do a poor job predicting customers’ needs and designing marketing and sales initiatives to present potential solutions well ahead of renewal time. There are five overarching reasons that may be why these predictions miss the mark:

  1. Wrong types of data. In order to forecast what your customers will need three months, six months, or 12 months from now, you need to be capturing and collecting the right kinds of data. For example: What are they buying? How are they using it? How often? What services are they paying for that they’re not using as much as expected? What industries are they in? Who are their customers? How many employees do they have, and how many of those employees use your products or services?The specific inputs you need to capture will vary, but in the end, you need data that is going to help you understand how your customer interacts with your product and company, and that has the potential to really change the way you approach your customers. “Is “Bob’s Drilling” a dental practice or a contractor in the oil industry? The answer will certainly impact how you engage with the company.”
  2. Not enough data. Having good data on just a small percentage of your customers is a step in the right direction, but it’s not enough to make really good forecasts. To do that, you need to have a sufficient volume of data to be able to create control and test groups for your forecasts, to evaluate how your models fit against historical trends, and to be able to identify statistically significant differences between different cohorts of customers. Without enough data, you increase your risk of making decisions based on a sample of data that isn’t representative of the whole.
  3. Incorrect data. You might have identified the right metrics you need to collect and may have data on every single row of your customer tables, but if the data about those customers aren’t correct, all bets are off. If you collect your data in-house, it’s important to regularly evaluate the accuracy of the data your team is collecting, through independent verification or automated processes that check for typical data issues. If you’re gathering your data from a third party, you need to make sure they have those checks in place. Is “Bob’s Drilling” a dental practice or a contractor in the oil industry? The answer will certainly impact how you engage with the company.
  4. Old data. Data goes stale over time. In many ways, companies are living, animated entities that change daily. There’s new leadership, new employees, new locations, new industries. If you think that a customer has 40 employees but it’s recently gone on a hiring spree and now numbers more than 300, you’ll be at a disadvantage. Your sales and marketing efforts are going to focus on the wrong things, and your customer may see you as out of step with its trajectory. Keeping your data up to date will eliminate that issue.Of course, it’s easy to get overzealous with this. While companies do change a lot, not every company will undergo a meaningful change every day. If you just updated a CEO’s name two days ago it’s probably still good. Two years ago, though? You may want to confirm it. Find a cadence that works for your needs and try to make sure you’re updating data to fit that rhythm.
  5. Bad or outdated models. Models are tough: tough to build, tough to test, tough to deploy. It takes a lot of effort to keep predictive models accurate enough for meaningful forecasting. Even if the data that feeds a model is pristine, it takes a special skill set to properly develop and interpret predictive models. Make sure you have that skill set available, whether you’re the one developing or the one interpreting your models.

And remember:

a predictive model isn’t a static tool; it can and must adapt to new information, as well as to market threats. Your competitors aren’t going to just rest on their laurels, so your models need to change to stay ahead of the others’ ability to make good predictions.

Addressing these five areas can help you develop an intrinsic strategy for holding on to existing customers, relieving the strain on your bottom line, and building long-term relationships.

Okomu Oil Palm Generated N20.50bn Revenue…PAT up by 46.28%

PFI Capital
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Okomu Oil Palm Generated N20.50bn Revenue…PAT up by 46.28%

Okomu Oil Palm Company PLC 2020 year-end financials show a significant 24.08% revenue growth when compared to the full year 2019 turnover. This was majorly driven by a 29.17% growth in local sales from N15.87bn to N20.50bn despite a 2.90% decline in export sales amid the closure of land borders.

Local Sales Boosted Revenue Amid Contraction in Export Sales

Local sales represented about 87% of the total with N20.50bn revenue generated locally compared to the N15.87bn in the preceding year. Notably, OKOMU generated  N23.41bn total revenue against the N18.87bn in 2019. Similarly, Gross profit went up by 21.04% resulting from a 30.78% increase in the cost of sales. This represents a 5.4% upward movement in the cost margin from 31.20% to 32.88% in the current period.

Okomu Oil Palm On track for a Record FY’20

Profit After Tax advanced by 46.28% to N7.39bn

Following an impressive topline performance, operating profit advanced by 15.64%  to N8.53bn despite a 28.14% surge in operating expenses. Consequently, Profit Before Tax and Profit After Tax (PAT) increased by 12.35% and 46.28% respectively. Notably, OKOMU realized N7.39bn PAT compared to the N5.05bn generated in 2019. In summary, EPS advanced by 46.31% from N5.29 to N7.74.

Financial Breakdown (N’Mn)

Okomu Oil Palm Generated N20.50bn Revenue...PAT up by 46.28% Brandspurng

Flour Mills of Nigeria continues its strong performance with Q3 results ahead of the first two quarters and solid growth in all segments

Esan Bolaji
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Flour Mills of Nigeria continues its strong performance with Q3 results ahead of the first two quarters and solid growth in all segments

January 26, 2021 – Flour Mills of Nigeria Plc, Nigeria’s leading integrated food business and agro-allied group, owners of the iconic food brand – ‘Golden Penny,’ today announced its Q3 results for the year 2020/21 showing resilience and continued growth in all segments.

Key Highlights

  • The Group’s long term strategy of driving its Food and B2C business while investing in Agro-allied and backward integration continued to generate strong returns.
  • The Group posted a 31% revenue growth in Q3 2020/21, and year to date at 31st December 2020, respectively, with all segments growing by 25% plus. Q3 revenue was N200 billion and year to date revenue at 31% December 2020 was NSSS billion.
  • Profit Before Tax at the year to date December 2020 of N23.6 billion was ahead of the full year 2019/20 Profit Before Tax of N17.5 billion. This was primarily driven by the investments in Agro-allied yielding returns, together with solid growth in the Food and Sugar segments.
  • NSO billion of cash was generated from operations, and net debt decreased by 31% to N66 billion.
  • N29.9 billion bonds issued at 5 and 7-year tenors with coupon rates at 5.50 and 6.25% respectively.

Flour Mills of Nigeria: Revenue from the sales of Sugar increased by 29.47% to ₦58.19bn

Operational review

Strongly committed to our culture of building value for our customers and Nigeria as a whole, our growth demonstrates our dedication to meet the country’s need and drive towards sustainable economic growth.

The Q3 2020/21 results show significant improvements across all key segments and reiterate our commitment to meeting the growing needs of our consumers, as we continue to deliver sustainable value for investors.

Our businesses in the agro-allied segment continue to show impressive growth in line with projections across the oils and fats, protein and starch value chains.

In the food segment, our volume-driven growth strategy remained underpinned by the resilience of our portfolio and the agility of our teams to adapt to the changing market dynamics. To broaden our reach, we have continued to invest in innovation by developing new products and strengthening our route to market.

We recently completed the issuance of our N29.9bn bond (Series 4, Tranches A and 8B) in December 2020, which was oversubscribed by 405% within the price guidance. The new bond (N29.9bn) with the tenor of 5 and 7 years was issued at 5.50% and 6.25% respectively. The issue was strongly supported by the institutional investor community.

Management remains focused on increasing operational efficiency with accelerated plans for cost optimizations across all business segments in the group to ensure competitive product offerings and profitability in the new operating environment.

Commenting on the result, Boye Olusanya, the Group Managing Director, said:

“Our ability to stay resilient, while growing organically in a rapidly changing environment, validates our investment strategy, and the strength of our diversified portfolio.

“We are keeping in stride with the government’s vision to ensure food sufficiency and have delivered another truly remarkable result this year. Our priorities remain the same = feeding growth and productivity in Nigeria’s food and agro-allied sector, feeding communities with empowerment, and feeding Nigeria’s future with significant backward integration projects.“

Nearly 60% of Global Bank Rating Outlooks Are Still Negative

Esan Bolaji
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Nearly 60% of Global Bank Rating Outlooks Are Still Negative

Fitch Ratings – 26 January 2021: A newly-updated interactive country-by-country map of bank rating trends from Fitch Ratings shows that nearly 60% of bank ratings were still on Negative Outlook at end-2020, with just a marginal decrease from end-1H20.

The proportion of ratings on Rating Watch Negative, reflecting near-term risks, fell significantly to just over 1% from 10% at end-1H20 but most of the affected ratings ended up on Negative Outlook. There were virtually no ratings on Positive Outlook or Rating Watch Positive.

The high proportion of Negative Outlooks may persist well into 2021. While immediate risks to bank ratings after the onset of the coronavirus pandemic have been largely avoided, medium-term risks remain from the gradual withdrawal of government support for the economy and for borrowers. A slower-than-expected economic recovery due to recurring lockdowns or vaccine deployment setbacks could exacerbate these risks.

Latin America still had the highest proportion of banks on Negative Outlook/Watch (87%) at end-2020. This reflects difficult operating environments across the region, which we generally expect to worsen, and pressure on sovereign ratings and Country Ceilings, to which most of the Negative Outlooks/Watches for banks are tied.

Western Europe had 78% of its banks on Negative Outlook/Watch, reflecting material downside risks to our baseline forecast of a solid economic recovery in the region in 2021. Setbacks to the recovery could weaken the asset quality, earnings, and ultimately the capitalisation of many banks.

The proportion of banks on Negative Outlook/Watch was lower in North America (60%) and in Asia-Pacific developed markets (55%). While banks in these markets face similar risks to those in other regions, they generally have more headroom in their ratings.

About half (52%) of bank ratings in the Middle East and Africa were on Negative Outlook/Watch. This is less than the global average, reflecting the significant proportion of Stable Outlooks linked to sovereign ratings in the Gulf Cooperation Council, and the fact that many African banks have seen their Outlooks stabilise after being downgraded amid the pandemic.

Negative Outlooks/Watches were less widespread in emerging markets in Europe (40%) and the Asia-Pacific region (24%). Stable Outlooks were more common in these markets, mostly due to the prevalence of ratings-driven by our belief that banks would receive support, if needed, from a sovereign or parent institution that itself was on Stable Outlook. In addition, many banks had headroom in their Viability Ratings.

Globally, there were 29 bank downgrades and nine upgrades in 2H20. Downgrades were concentrated in the Middle East and Africa (18; all but one linked to sovereign downgrades), followed by Latin America and Western Europe. The upgrades were linked to the Argentina and Ecuador sovereign upgrades following their sovereign debt restructurings.

MPC Leaves All Rates Unchanged

Comercio
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MPC Leaves All Rates Unchanged

At the end of the two-day bi-monthly MPC meeting, all policy levers were maintained following a unanimous vote of all members of the committee.

  • Monetary Policy Rate (MPR) – 11.50%
  • The asymmetric corridor around the MPR – +100/-700bps,
  • Cash Reserve Ratio – 27.50%, and
  • Liquidity Ratio 30.0%.

Nigeria’s Monetary Policy Trend

MPC Leaves All Rates Unchanged brandspurng

Wizkid, 7 Others announced as first performers for virtual MTV Africa Music Awards Kampala 2021

Esan Bolaji
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Wizkid, 7 Others announced as first performers for virtual MTV Africa Music Awards Kampala 2021

The virtual event is dedicated to the youth of Africa and will showcase the best of African talent, culture, and music to a global audience across 180 countries

The MTV Africa Music Awards Kampala 2021 (MAMA) today announced a performance lineup that includes top stars from across the continent including Nigerian megastar Wizkid, Uganda’s Sheebah Karungi, Tanzanian Diamond Platnumz, South Africa’s Nasty C, Kenya’s Khaligraph Jones, Suspect 95 from the Ivory Coast, Cape Verde’s Soraia Ramos, and São Tomé and Príncipe’s Calema. 

Wizkid, 7 Others announced as first performers for virtual MTV Africa Music Awards Kampala 2021

The virtual show, which will broadcast to MTV’s global audience in 180 countries, will air locally on MTV Base (DStv Channel 322) and MTV Africa (DStv Channel 130) on 20 February 2021.  

“The MAMAs are a global spotlight on African music and artists, and this line-up of incredible talent speaks to the tremendous power of music on our continent,” said Monde Twala, Senior Vice President and General Manager ViacomCBS Networks Africa.

Wizkid, 7 Others announced as first performers for virtual MTV Africa Music Awards Kampala 2021 Brandspurng1

“This year’s show is dedicated to the youth of Africa, and we are committed to amplifying social change through music and culture and to elevating youth voices across our platforms.” 

One of the MTV MAMA Kampala 2021 nomination leaders with five nods, Tanzanian artist Diamond Platnumz will return to the MAMA stage after his energetic 2016 performance. A first-time nominee from Uganda, songstress Sheebah Karungi has scored two nods in the Best Female and Best Ugandan Act categories.

South African Hip Hop sensation Nasty C, who is nominated in the Best Hip-Hop category, also returns to the MAMA stage on 20 February. Fellow Hip Hop award contender, Suspect 95 from Côte d’Ivoire, will also take to the virtual stage.

Kenya’s Khaligraph Jones and Cape Verde’s Soraia Ramos will debut the MAMA stage, and São Tomé and Principe’s Calema, who is running for the Song of the Year and have four MAMA nominations in total.

Grammy® award-winning global sensation, DJ and record executive, DJ Khaled, best known for his Hip Hop and R&B hit anthems, will be the international co-host for this year’s MAMA. 

More performers will be announced in the next few days, as well as finalists for the MAMA Generation Change Award, which will recognize youth change-makers on the continent. 

The full MTV Africa Music Awards Kampala 2021 nominee list is available here.  

The MTV Africa Music Awards Kampala 2021 will be broadcast on MTV Base (DStv Channel 322) and MTV Africa (DStv Channel 130) on 20 February 2021. The show will also be aired on MTV channels in 180 countries globally.  

The MTV Africa Music Awards Kampala 2021 will be held in partnership with the Uganda Tourism Board. The MAMA serves as a platform to showcase the country’s and African music and sounds to the world. 

Lagos Business School’s Full-time MBA ranked top 100 in the world by The Economist

Esan Bolaji
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Lagos Business School’s Full-time MBA ranked top 100 in the world by The Economist

The Full-time MBA programme of Lagos Business School (LBS) has been ranked among the top 100 in the world according to The Economist’s WhichMBA? 2021 ranking.

Released on Thursday, 21 January, The Economist 2021 ranking evaluated full-time MBA programmes from 90 business schools across the world based on four broad criteria, including Open new career opportunities, Personal development and educational experience, Salary, and Potential to network.

Lagos Business School’s Full-time MBA ranked top 100 in the world by The Economist Brandspurng

The Economist collated data from eligible schools on areas such as the percentage of graduates who receive a job offer after 3 months of graduation, the ratio of faculty to students, average GMAT score, student and faculty gender diversity, among others. Current MBA students and recent alumni are also contacted to rate their school on areas such as faculty quality, post-MBA salary, salary increase, etc.

According to Lagos Business School’s MBA Impact Report, its Full-time MBA graduates record an 87 percent increase in their salary upon completing the programme. 83 percent are promoted after the programme, 50 percent get jobs three months after the programme, and 73 percent get their first post-programme jobs through the School’s Career Office.

Lagos Business School’s Full-time MBA is the only programme and business school in Africa to be ranked on the 2021 list and was well rated in categories such as a number of overseas alumni chapters, diversity of recruiters, and student-faculty diversity.

Dean, Professor Chris Ogbechie said,

“This ranking is a fantastic way to begin the year at Lagos Business School. We are happy to be recognised for maintaining the quality of our MBA programmes despite the challenges of the previous year.

This recognition challenges us to intensify our efforts towards developing responsible business leaders who will solve Africa’s business, economic, social and institutional challenges.”

“I congratulate every member of the LBS community who has worked arduously to ensure that we have, yet again, gained another international recognition. We, at the MBA department, are intent on creating and delivering transformational experiences to our participants and this ranking is fuel to our fire”, MBA Director, Dr Henrietta Onwuegbuzie added.

This is the first time the Lagos Business School Full-time MBA programme would be ranked by The Economist. However, its Executive MBA has been ranked for two years in a row and emerged among the top 50 in 2019.

Other top business schools on the list include IESE Business School, which was ranked number one.

Lagos Business School’s range of MBA programmes equip students with a thorough knowledge of the main business disciplines, analytical competencies and problem-solving capabilities in addition to strong industry engagement.

Western Digital and Qumulo Enable Massive Capacity and Scale for IHME COVID-19 Health Analytics and Vaccine Roll Out

Esan Bolaji
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Western Digital and Qumulo Enable Massive Capacity and Scale for IHME COVID-19 Health Analytics and Vaccine Roll Out

IHME Utilizes Qumulo’s Scalable File Data Platform with Western Digital’s Ultrastar® HDDs and SSDs to Compute up to 2PB Per Day to Provide Public Pandemic Research, Statistics and Projections

Lagos, Nigeria. January 26, 2021 – Architecting how data enables the world to solve its biggest problems, Western Digital Corp. (NASDAQ: WDC) announced today that the Institute for Health Metrics and Evaluation (IHME), in partnership with Qumulo, a breakthrough leader in file data management for hybrid cloud environments, is employing Western Digital’s Ultrastar DC HC550 18TB HDDs and Ultrastar DC SN640 NVMeTM SSDs for ongoing COVID-19 research and vaccine rollout.

Western Digital and Qumulo Enable Massive Capacity and Scale for IHME COVID-19 Health Analytics and Vaccine Roll Out brandspurng

IHME, based at the University of Washington’s School of Medicine, is an independent global health research organization. Their mission is to improve the health of the world’s population by providing the best freely available public health information to policymakers and healthcare institutions. By providing this data, organizations can make informed decisions critical to saving lives. 

“When the World Health Organization officially announced a pandemic, requests from hospitals, state governments and other countries started pouring in for models of data and forecasts,” said Serkan Yalcin, director of IT Infrastructure at IHME.

“Teaming up with Qumulo from the beginning and utilizing Western Digital drives has enabled us to distil hundreds of millions of data points into a single visualization which allows policymakers to easily view results and communicate them with their teams.

Now, as vaccines are rolling out around the world, we have been able to further extend projections with even more data to give decision-makers the most robust information possible.” 

Capturing and analyzing large data sets requires top-of-the-line storage infrastructure. Qumulo provides file data platforms to help organizations easily store and manage file data. The C-432T offers a cached- performance hybrid storage system for data center, private and public cloud environments.

This high-performance system yields a dynamically scalable architecture and real-time visibility of data imperative to organizations like IHME with massive amounts of data. 

Qumulo’s system includes Western Digital’s Ultrastar DC HC550 18TB HDDs with HelioSeal® technology for their high capacities, low power and high reliability. Ultrastar DC SN640 NVMe SSDs are leveraged to provide extreme performance with six times improvement in sequential read compared to SATA SSDs, which allows for faster data analysis.

With Western Digital’s vertically integrated storage devices, Qumulo’s C-432T provides 432TB of raw storage capacity in a 2U configuration. 

“Partnering with Western Digital helped us to deliver a fast, reliable file data platform to IHME that analyzes up to 20x more data every day than previous solutions,” said Ben Gitenstein, vice president of product at Qumulo.

“Our software-driven platform offers enterprise-level capabilities that radically simplifies analytics of massive data sets which is critical for customers to be successful with unstructured data. This partnership with Western Digital allows customers like IHME to simplify the complexity of their infrastructure, accelerate innovation and unleash the power of their data, wherever it resides.” 

“Scaling for increased data demand is common hurdle organizations face. In this case, the increase of data was sudden and exponential,” said Andrew Dorian, vice president of data centre hard drives at Western Digital.

“We’re honoured to work with Qumulo to provide the storage foundation to help IHME create data-driven, science-based, actionable plans to combat COVID-19. In partnership with Qumulo, we were able to quickly provide a scalable on-premises file storage system with high-capacity HDDs and high-performance NVMe SSDs to address a surge in data that benefits people everywhere.”  

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