It has been rightly said that ‘Data is the new Gold’. Data plays a vital role in the evolution of technologies and how humans and their establishments operate. Data analysis can not only aid in improving efficiency and profits but also play a significant role in solving major global issues that need to be tackled to achieve equitable and sustainable development.
In an exclusive interaction with The CSR Journal, Mr Ravi Chhabria, MD, NetApp India – a global cloud-led data-centric software company, sheds light on the role of data in driving social change in India.
1. How can leverage data aid in solving real-world challenges and achieving Sustainable Development Goals?
Across sectors and functions, big data has proven its mettle in delivering valuable insights that can be used to bring about change. Within the purview of sustainable development, data can be used to understand the core of persisting issues. It can help flag risks, benchmark a company’s sustainability report against competitors, monitor industry references to strategic problems, and analyse sustainability best practices. One of the critical advantages of data analytics lies in its ability to help industries understand and act on their operations’ environmental impact. This process can help cull out insights that can help businesses make improved decisions, refine goals, and focus their efforts in a channelised manner.
2. India has the opportunity to take advantage of the demographic dividend. How can it maximise the benefit of the Industrial Revolution 4.0?
India has the potential to achieve a faster pace of economic growth if we focus on the policy environment that captures the dividend. Some of the critical aspects that we need to focus on are:
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Scaling up human resources by investing in skilling programs
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Promoting entrepreneurship and creating more jobs
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Emphasising building more institutes and programs and facilitating STEM education among the younger population