Big Data and Data Science Initiative in India - Upcoming Job
Opportunities (Vol (Big Data Initiative in India) (Volume 1) Paperback –
April 16, 2017
by Mr. Ajit Kumar Roy (Author, Creator,
Editor)
The
first volume of the book entitled 'Big Data and Data Science Initiative in
India-Upcoming Job Opportunities’ was published in July 2016.Since then a lot
of events have taken place India like Demonetisation, Cashless economy, GST
bill etc. besides smart city project, make in India, digital healthcare and New
India Vision. When Prime Minister Narendra Modi made the demonetisation
announcement on the night of 8 November, it started an administrative chain
reaction focused on squeezing money launderers, promoting less-cash economy and
of course remonetising the banking system. The CAG’s Centre for Data Management
and Analytics (CDMA) is going to play a catalytic role to synthesise and
integrate relevant data into auditing process. FIU and the RBI will be saddled
with heaps of complex transaction data from the post-demonetisation months.
Indian financial system is also generating huge data with several players’
foreign banks, public sector banks, private banks, cooperative banks, rural
banks, credit cooperatives, and the specialized non-banking financial
corporations. Presently the Income Tax department of GOI, will reportedly use
big data analytics to comb through personal bank deposits money holders. As per
reports, the analytics tool was used in the past for corporate tax reporting.
Now, for the first time it will be used on a massive scale to rule out any in
discrepancies found in personal taxes and records. India aims to create a
cleaner, more transparent economy via digitalization that will lead to an
improved climate for foreign investment, boost economic growth, and ultimately
propel the country to the next chapter of its emerging markets story. India by
making Internet access available to over two lakh villages by 2019, promoting
e-governance, e-banking, e. education and e-health, and transforming India into
a knowledge economy. Digital India is a visionary initiative of the GOI to
ensure that government services are made available to citizens electronically.
Universal Banking Initiative in India in focusing on simplifying the customer
experience. Government will invest Rs4.5 lakh crores in the Digital India
program which will generate 18 lakh jobs.The government have huge complex
transaction data from the post-demonetisation months. Now it is time to
leverage data analytics capabilities to track down those who may have tried to
game the banking system. Tools such as Big Data can be effective in collecting
information about financial misappropriation. The data provided by banks can be
analyzed to find unusual activity in currency flow, whether at an individual or
a regional level,” Global consulting firm McKinsey has said digital finance is
a $700 billion opportunity for India, offering 11.8 per cent boost to GDP by
2025, benefitting millions of people. Keeping in view the major initiative by
various departments of Govt. of India and private sectors in applying Bigdata
and data science indifferent aspects of business, banking, healthcare, economy
the book entitled 'Big Data and Data Science Initiative in India-Upcoming Job
Opportunities(Vol.-2) is compiled. The book highlights the latest development
in the initiative of GOI & private sectors and tools that Data Scientists
use through the following chapters Ch-1: Understanding Bigdata and Data Science
Ch-2: Trends in Big Data Analytics Ch-3: Bigdata and Data Science Application
by Govt. of India- Ch-4: Data Science Application by Private Sectors Ch-5:
Bigdata Applied in Agriculture Ch-6: Digital Transformation Initiative in India
The compiled book will be useful for researchers of social, political, economic,
legal, and business and marketing fields, besides engineering or other sciences
engaged in Data-intensive applications, challenges, techniques and technologies.
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