Kadambari Shah, Senior Analyst at IDFC Institute, discusses the scope for harnessing big data to drive policy.
"A simple search — ‘Big Data in India’ — in Google’s news search bar reveals that big data can make Indian cities a better place to live in, increase job opportunities, help track fraud, and influence politics. We have a vast amount of data from all layers of the societal pyramid, but a lot of it is sitting dormant due to ignorance and lack of infrastructure.
To penetrate this problem, JAM — Jan Dhan, Aadhaar, Mobile (Bank Account, Aadhaar Number, Smartphone) — is set to replace Bijlee, Sadak, Paani (Electricity, Transport, Sanitation) and Roti, Kapdaa, Makaan (Food, Clothing, Shelter) as the trinity leading India’s future growth...Moreover, the data collected from these activities can be translated into policy measures that will improve consumers' lives...
regulation can either inhibit or stimulate technological change. The relationship between the two is complex, but it is evident that a change in one necessarily needs to be reflected in the other. Only then can big data drive policy, and policy drive big data, to create a virtuous cycle that accelerates socio-economic progress."
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