Demonetization – A Heady Cocktail Served. With Big Data & Analytics the Hangover Continues

It looks like the Indian Income Tax department is all set to have a ball on New Year’s Eve and beyond into 2017. With interesting data being captured silently all through the years and specially after the unforgettable evening of November 8, 2016; the insights generated relentlessly are all set to make Big Data Analytics services the hero of the story of exposing unaccounted money in the system.

Demonitization

Demonetization in India; it seems is going to be a long and interesting epic. The plot thickens as the determined central government keeps giving interesting twists and turns to the saga, with shocking announcements every other day. Well, shocking for some, interesting for most!

 

And we all remember how it all began soon after the Diwali celebrations had ended.

 

But, what really is interesting to know is that slowly and silently the infrastructure has been put in place to give a boost to the citizen centric services, enhancing the citizen experiences and putting critical data on the fingertips of lawmakers, government agencies and the sorts.

 

The banks accounts being linked with the Aadhar cards or the PAN card itself makes the transactions visible to the Income tax department since long before demonetization and enables it to take prudent steps today with the help of technology.

 

Enter Big Data Analytics Services. Let the Party Begin.

 

BI & Big Data make their mark everywhere, every industry thought of. With visionary leaders taking upon the task of running a country as professionally as running an enterprise itself; these technologies become an affair to remember for enterprises and the country too.

 

 

Unexpectedly; BI & Big Data, the pulse of new age, become critical tools in this complete revamp of the country in providing insights to the Income Tax Department to identify the evaders from the genuine lot.

 

What would surely have been a practically impossible task without technology support in place; scrutinizing accounts, the movement of funds and of course generating the pointers to abnormal activities is all set to be possible as a completely revamped and rigorous exercise from the New Year’s Eve onwards as promised by the central government.

 

A New Year’s Eve Date – BI Big Data and the Regime

 

It was about time, that the administration identified the bottle necks to bring the system back on track. The signs were everywhere pointing to a single solution. Contemporary technology to methodically set out new age workflows and procedures.

 

  • The government agencies and several bodies keep collecting organized data over the years but without a comprehensive platform to analyze and interpret it this was a fruitless exercise.
  • The volume of the Government to Citizens, G2C & Citizens to Government, C2G transactions change the very definition of large; making it impossible to manage without efficient technology support.
  • Critical data lies unused as it is tough to interpret such a large-scale volume and analyzing the data stored becomes a challenge because of complicated workflows and processes followed by the governing agencies.
  • The data sources are varied and interconnecting the dots makes it a highly complex & intricate task.
  • Citizens across the country and the various hierarchical government agencies expect to avail information at times they want, in the way they fashion, in a self-service mode.
  • The reports produced from various systems need to be co-related and offer the complete picture to the key people.
  • The lengthy processes in generating information from the data collected become threatening bottle necks in decision making and executions.

 

Making Sense of the Big Data with the Endless Vs

 

A sure shot way of turning challenges brought forward by these signs had to be Big Data Analytics Services, converting huge volumes of disparate data into actionable information for the governing agencies making BI and Big Data interdependent and indispensable.

 

The multiple Vs of data captured throughout this vast country, harnessed by Big Data & Analytics makes this a story worth telling.

 

The Challenges of Big Data

Challenges of Big Data

Volume

 

With the large volumes of data generated by individual & corporate transactions on systems like banks, land & property deals, tax and more the amount to be analyzed is massive.

 

Variety

 

Forms of data both structured and unstructured generate from data sources like spreadsheets, databases, emails, devices, PDFs, and more poses challenges for storage and is also trying to analyze and make sense.

 

Velocity

 

The velocity at which data flows in from sources like transactions, machines, human interactions, communication networks, websites, mobile devices is not only huge, it is unimaginable.

 

The real-time insight into these huge data sets is achieved by BI.

 

Veracity

 

The deviation in data that is being stored and mined is very significant to the problem being analyzed by BI and needs to be handled with great care.

 

Validity

 

This big data veracity couples up a new problem of the correctness and accuracy of data and purposefulness for the intended use. Most certainly, correct data is a key to make the right decisions. Appropriate storage and processing defines the validity of such data and BI solutions need to reconfirm the correctness of the data to be put to use.

 

In a Nutshell

 

Technologies ensure continual improvements in the governing experiences as well as citizen experiences. With futuristic good governance practices shaping up slowly and steadily, Big Data consulting in India is projected to become the backbone of good governance with a marked digital transformation.

 

The BI & Big Data Advantages to the Governing Bodies

Big Data in Governing Bodies

India waits for 2017 with a hope for the change waiting to happen. It was about time.

 

Request A FREE POC To Test Drive our Services

 

Author: SPEC INDIA


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