Economics Survey 2016-2017 uses Big Data for the first time
Q. Economic Survey 2016-2017 is the first to use __________.- Published on 02 Feb 17a. Big Data
b. Analytics
c. Econometrics
d. Statistics
ANSWER: Big Data
For the first time, the Economic Survey has used Big Data Analysis to shed new light on the flow of goods and people within India.
Survey produces first estimate of the flow of goods across states within India, based on analyzing transactions level data provided by the Goods and Services Tax Network (GSTN),
Survey furnishes exciting new evidence on the flows of migrants within India.
This is based on detailed origin-destination passenger data provided by the Ministry of Railways and on a new methodology for analysing the Census data.
This year’s Economic Survey does not carry the usual statistical tables on the economy’s performance.
The survey seems to have compensated this by the use of Big Data and intensive data-mining of multiple datasets.
The survey has used individual tax filings administered by the Goods and Service Tax Network to estimate state-level (both inter and intra) trade.
Railway station-wise unreserved passenger traffic data provided by the Indian Railways has been used to arrive at estimates of work-related migration.
Satellite imagery has been used to calculate built-up area and estimate potential property tax collections (and hence losses being incurred).
Machine generated large scale data sets have been used more intensively. NSSO statistics has been used to generate insights on spatial concentration of poverty and welfare beneficiaries.
Official statistical machinery has moved past surveys to include administrative data.
The new approach towards using diverse datasets is definitely an important first step towards better decision-making.
Marrying satellite imagery about properties data with something like income tax data for India’s top 50 cities and house-size census data can generate rich insights about Indian cities.
