Government think-tank Niti Aayog will develop a National Data and Analytics Platform (NDAP) to make all government data accessible to stakeholders in a user-friendly manner.
Releasing the Vision Document for the NDAP, Niti Aayog vice-chairman Rajiv Kumar said the NDAP will strive to ensure that the data is assured, consistent, coherent, and credible.
“Given that data is the new oil, we at Niti Aayog feel the need to modernise our data system,” Kumar said.
According to the vision document, data across sectors should be coherent to support analysis and dissemination.
“In addition, there should be easy access to the most recent data, published reliably,” the document noted.
The NDAP will host multiple datasets, present them coherently, and provide visualisation and analytics tools.
“The platform will be powered by a user friendly search engine, backed by seamless navigation, with a worldclass user interface. Data will be provided in a machine-readable format with customisable analytics,” it said.
Stating that the NDAP will provide access to data from multiple sectors in one place, the document said data will be sourced from different central and state ministries and departments.
NDAP will be a reliable platform for up-to-date data. Standard Operating Procedures (SOPs) will be developed to keep data updated, it said.
There will be a high powered steering committee under the chairmanship of vice chairman, Niti Aayog, to provide direction, oversee progress, guide on data sources, and address various inter-ministerial issues on collating data.
Besides, there will be a Technical Advisory Group (TAG) consisting of sector and technology experts to provide guidance on the development of the platform, management of data, and aligning the platform for user-needs.
The first version of National Data and Analytics Platform is proposed to be released in 2021.
Recently, the Sebi chairman said that it is acquiring capabilities to monitor and analyse social media posts to keep a tab on possible market manipulations.
He said the capabilities will involve use of artificial intelligence, machine learning, big data analytics, and natural language processing (NLP) tools to spot market manipulation.
The new plan involves creating a “data lake” project to augment analytical capabilities, he said while speaking at the National Institute of Securities Markets at Patalganga near Mumbai.
In efforts to curb possible manipulations in the securities market, Sebi has been keeping a watch on social media, and there have been cases where social media posts have helped in acting against manipulative activities.