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.
UN Committee of Experts on Big Data and Data Science for Official Statistics (UN-CEBD)
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