By: Anupam NathThe Indian government says it has made a « major breakthrough » in the fight against unemployment, and it’s been a big win for data-mining.
Data-driven economics is gaining traction in the Indian economy, which was ranked 16th in the world for the proportion of people without jobs in 2015.
The Indian government’s data-centric policies have led to significant improvements in economic growth, which is now above 6% annually.
Data science has also been credited for the development of social media and online shopping platforms such as Amazon India and Snapdeal.
Data is being mined to help people save money, and businesses can sell their products at lower prices because of this, says Gaurav Nanda, founder of Datamart, a data analytics company that provides data services to companies.
The government says its data-based policies are having a « catastrophic impact » on the economy.
The economy is growing faster than it was during the peak of the crisis, but it has been slow to rebound.
The government’s economic data, which it releases quarterly, show the government has been unable to provide enough data to explain why growth has slowed down.
Data-driven policies also have been a drag on the country’s manufacturing sector, which lost a quarter of its workforce in the first six months of this year.
India is the fourth-largest economy in the global region, after China, Brazil and South Africa.
The data-intensive nature of India’s economic policy has contributed to an over-reliance on technology, said Nanda.
Data mining is an increasingly popular method of data collection in India, he added.
It’s a cheap way to capture and analyze huge amounts of data.
« It’s cheap, fast, accurate and very accessible, » Nanda said.
« Data-intensive approaches are more often used in a country where data is limited.
The impact of the data mining trend is very significant. »
India’s economy has grown steadily since 2008.
But data-related policies have been the main driver behind the slowdown.
The country is the world’s second-largest consumer of foreign direct investment (FDI), but this sector is largely unregulated and unregulated at the state level, said Raman Sethi, research director of consulting firm India.
India’s data policies, he said, have been linked to the country falling behind in many key indicators.
« The government’s policies have failed to drive the economy in a way that can be considered an economic success story, » Sethi said.