How Big Data Analytics Can Influence Economic Inequality in India?


Blog #5           : How Big Data Analytics Can Influence Economic Inequality in India?

Name               : Kathleen 蔣慧敏
Student ID      : D0726920
Source           :https://www.analyticsinsight.net/big-data-analytics-can-influence-economic-inequality-india/

            One of the main obstacles of India’s fiscal and future growth is the economic inequality. Research shows that India is positioned as the 10th richest country in the world. In fact, 50 percent of the country’s total wealth is held by 1 percent of the wealthiest people in the country. From this research, we can see how unequal the economic in India. Furthermore, as technology become more advanced, it is also give an important impact on India’s economy. Nowadays, in order to make an equal distribution of wealth become real, big data is becoming one of the most common technologies.
            Big data has helped industries in India to have an efficient process in research, sales, production and business planning which results with a positive impact to the country’s economy. As written in the article, “India has already made much progress in terms of adopting data analytics as the country’s data analytics industry is valued at US$3.03 billion and is expected to double by 2025.” Other than business, big data also contribute to the government and make them become more efficient in minimizing fraud, maintaining transparency, and support the economy and productivity.
            Some national and international organizations work together with India’s government use big data analytics to increase the economy across different sectors such as farming, fishing, healthcare education, etc. Apart from that, big data analytics also used as a way to counter issues of black money in India. Economic inequality in India is also caused by educational discrepancy. To improve this discrepancy, many states in India have used machine learning-based models by evaluating and predicting the dropout rates.
            India has showed a lot of positive impact they received from making a good use of big data in improving their economic inequality. From this we can understand how important big data is to every sector in human life and activities not only personally but also for industries and government.

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