Information Communication Technology and Decision Making Effectiveness of Selected Money Deposit Banks in Nigeria

Abstract

The study evaluates the relationship between information and communication technology and decision-making efficacy in selected Nigerian money deposit institutions. The goal was to ascertain the degree to which ICT infrastructure influences the efficacy of decision-making in particular deposit money banks, as well as the impact of human resource competence on this relationship. The study used a sample size of two hundred (200) respondents, representing all the employees in the selected deposit money institutions. The study employed a survey method, multiple regression, and Pearson Product Moment Correlation to analyze the data. The results showed a strong correlation between decision-making effectiveness and ICT infrastructure. Additionally, the study revealed that human resource capabilities significantly mitigated the influence of ICT on the efficacy of decision-making in certain deposit money banks. Based on the results, the study suggested that to facilitate quicker decision-making, Nigerian deposit money bank management should implement speedy, interactive, user-friendly websites with high-quality search capabilities. To facilitate efficient decision-making, the management of Nigeria's chosen deposit money institutions should also hire individuals with the necessary ICT (information and communication technology) skills. Lastly, the management of Nigeria's chosen deposit money banks ought to encourage innovative ideas from their staff members to help them succeed. Keywords: Information communication technology, Decision-making effectiveness, Deposit money banks, Nigeria.