It marks a step toward revolutionizing statistical production and highlights India’s commitment to leveraging data and technology for informed decision-making.

Significance of Joining for India

• Strategic opportunity: Align domestic advancements with international goals, learning from global best practices. 
• Streamline Statistical Production: Drive innovation in data collection, processing, and analysis. 
• Improve Decision-Making: Provide policymakers with real-time insights for evidence-based decisions, addressing key socio-economic challenges.

About Big Data

• Definition: Data whose scale, diversity, and complexity require new architecture, techniques, algorithms, and analytics to manage it and extract value and hidden knowledge from it.
  • It includes structured data (inventory database, list of financial transactions); unstructured data (social posts or videos); and mixed data sets (used to train large language models for AI). 
• Characteristics of Big Data: Volume, Variety, Velocity (high rate of change) and Veracity (uncertainty and incompleteness).

Applications of Big Data in Various Sectors

• Healthcare: Personalized medicine, clinical risk management, disease prediction, drug recommendations, etc. 
• Logistics and Transport: Bolster supply chain performance by fostering proactive and reactive capabilities. 
• Marketing and Advertising: Precise targeting, market analysis, customer insights. 
• Smart Cities: Resource management, improved infrastructure planning, and AI-driven solutions to urban challenges.
• Education: Personalized learning, improving educational quality.
• Earth Sciences: Climate and earth studies, weather modelling, and prediction.