ISSN (Online) - 2349-8846

Amit VermaSubscribe to RSS - Amit Verma

Big Data, Big Deal

Massive data sets are transforming everything, from our understanding of the universe, to things as everyday and mundane as recommending personalised products online. The data, in a digital form, comes in a much larger size than ever. With such large data sets, it is all too easy to find rare statistical anomalies and to confuse them with real phenomena. Questions arise of privacy when one is a row on a database in an increasingly “dataficated” world.

Big Data, Big Deal

Massive data sets are transforming everything, from our understanding of the universe, to things as everyday and mundane as recommending personalised products online. The data, in a digital form, comes in a much larger size than ever. With such large data sets, it is all too easy to find rare statistical anomalies and to confuse them with real phenomena. Questions of privacy arise when one is a row on a database in an increasingly “dataficated” world.

Indexation Policy of the 7th Central Pay Commission Report

There is a need to revise the manner in which the pay commissions have indexed inflation and the concomitant pay rise. This critique looks at the weaknesses of the existing methodology and proposes some revisions to make it more representative and robust.

Formula Does Matter

Amid the chaos around the new gross domestic product figures put out by the Central Statistics Office, profound improvements made in another prominent statistical marker--the Consumer Price Index--also compiled by the CSO, went unnoticed. The CPI series was revised to a more recent base year, 2012. This alone probably deserves commendation as base years of other national price indices have grown significantly remote. It is indeed a tectonic shift in estimation procedure and conforms to international best practice concerning CPI. Here we discuss the decision of CSO to replace the arithmetic mean with the geometric mean in the updated CPI indices by going through each of the established approaches to index number theory used to identify the appropriate formulation to calculate basic indices.
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