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Big Data and Data Science Initiative in India - Upcoming Job Opportunities

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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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