Statistical data are created by collection from different sources from any event and stored in hard copies to soft copies under various agencies. The bureaucrats when deliver their speech in any conference they usually refer those data to establish their point of discussion. Statistical data is not error free due to cause of human error and it follows some statistical law and equation where probability, mean, mode remain.
The chief economic advisor of government of India was addressing his speech before the students of Indian Institute of Management at Ahmedabad on Friday, there he referred many data to establish his point of discussion, mainly why Universal Basic Income cannot implement in coming days though it was mentioned in economic survey of India and while other poor countries GDP growth is very slow on that perspective India’s GDP growth is rapid even comparing to rich countries due to internal migration, where 55-60% of the GDP have generated.
This GDP or Gross Domestic Growth is a good statistical data as using to establish the economic health of the country but in real sense it has no accurate reflection on financial inclusion of the population of the country. Many debates are in pipe line that this growth is synonym to Jobless Growth.
So, all statistical data is not correct if it cannot balance the macro to micro level to the society.
If I say data is variable, will you agree? Few will agree and few will defy. I strong on this debate that data is variable, because life is dynamic to data cannot be static, the data which is collecting today, tomorrow the change of data is inevitable. Therefore, referring any statistical data you cannot figure out the real picture of anything.
Yesterday I was checking an app, which was developed for medical symptom prediction on the basis of AI, as described in their profile. There the developer is claiming they have huge data resources and above 1000 case studies. I checked, putting the information in the related box, after analysing those information the app generate PDF report, there I found the age turned incorrect, height turned incorrect; age and height remain static. The good example of inaccuracy of storage data.
So, data is always not correct if vector, matrix does not consider to measure out the flow correctly.