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India: Unlocking the Power of Big Data and Analytics
Source: http://www.egovonline.net/
Source Date: Thursday, December 08, 2016
Focus: Electronic and Mobile Government
Country: India
Created: Dec 13, 2016

Big Data and Analytics has emerged as the key buzzword in the IT business, as ignoring the data lying around can prove a costly affair for any business. It has become critical to unlock the power of data using effective analytics or big data tools. Governments, private organisations, independent entities, and political parties, among others are finally investing time and money in unlocking it, writes Priyanka Sharmaof Elets News Network (ENN). With data turning the new currency, which can yield dividend if adequately stored, and analysed, 100 Per cent tech-driven companies have started using Big Data to take an early edge over the rest. The new technology enables businesses to go through the vast amount of information they own – from customer records to sensor data – cohesively, to take note of trends that otherwise remain hard to explore and analyse. Big Data is a collection of large and complex data set. The ‘traditional data’ (official statistics; survey data, etc.) continue to generate relevant information. But the digital data revolution has created a big opportunity to gain richer and deeper insights for individuals. It can complement the growth indicators already collected. While companies are investing more into Big Data and Analytics, the banking industry is already leveraging this technology in a big way. It is being anticipated that Big Data and its analysis will lead to a wave of investments between now and 2020. “All the government, financial initiatives, smart cities-safe city initiatives, video surveillance are driving data growth. Also the new banking providers, the e-wallets are driving the need for data storage, analytics of data,” says Amit Mehta, Director-Sales, Emerging Technology Storage Division at DELL EMC, India and SAARC. “The entire e-commerce is driving the surge for data storage.”

The Indian government is also working to take full advantage of Big Data and its analysis. e-Governance has multiplied its benefits by sharing of Big Data. It only requires applying the ‘only once’ encoding principle, allowing beneficiaries to encode data only once – those data being shared between different administrations at national and regional level – using electronic online portal functionalities. At state level, e-Governance means digital signature should be implemented effectively by electronic portals at national and regional level and that electronic storage features are made available in national systems used for dealing with rural development projects. Centre has developed various digital platforms and launched initiatives such as MyGov, DigiLocker, Digital India, National Scholarship portal, Aadhar card, Jan Dhan Yojna to connect with people through websites, mobiles and smartphones.

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