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Big data analytical tools to improve official statistics

The government has proposes to set up a 'National Data Warehouse' with a view to leveraging big data analytical tools to further improve the quality of macro-economic aggregates.

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    • The proposals:
      (1) A legislative framework under which the National Statistical Commission (NSC) may function with independence and give holistic guidance for improving the national statistical system.
      (2) Over a period of time, there have been increasing demands on the statistical system for the production of relevant and quality statistics.
      (3) The Statistics Ministry has been accommodating these demands by optimising the available resources and use of technology.
      (4) The advent of technology necessitates reforms in statistical processes and products with an aim to synergise the existing resources so that the system remains responsive.
      (5) It also talked about changes in the sectoral data flows and associated regulatory framework in the data source agencies to facilitate the use of more macro modelling techniques.

    Source

    The Hindu.
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