Kalam stresses on good model for economic dynamics

A nationally proven and validated statistical model for economic dynamics especially for a large country like India is very important, said President A P J Abdul Kalam.

He was delivering the inaugural address of the international conference on the ''Future of Statistical Theory, Practice and Education', through a video conference, organised at the Indian School of Business, he said, "It is important to use statistics in formulating financial and taxation policies as it involves large volume of data of uncertain nature and modeling on the basis of observed data."

Kalam also said that statistical theory should be used to comprehend the data on bio-informatics into knowledge and possibly products that will enhance the quality of life of humans and plants.

"Apart from the traditional applications of statistics in governance, weather forecasting and analysing election results, the use of the subject should be extended to new areas like modern cryptography and data mining," he said.

According to Kalam, statistics can play a pivotal role in the growth of the software products and manufacturing sectors through six-sigma modelling and solid design of the processes involved.

He also said that statisticians will be of help in networking of river projects and can provide useful inputs on the macro-economic impact of the project.

In light of the recent tsunami tragedy, he said that the statistical community should study previous occurrences and suggests integrated prediction and warning methods in partnership with meteorological and geological groups of the Pacific and Indian Ocean regions.

Earlier, addressing the gathering, C R Rao, an eminent statistician, said that workshops on bio-informatics, six sigma and data mining would be held during the conference.

"The conference which is being attended by 170 delegates from 30 countries and about 100 from India, will continue till January 1, 2005," he added.

Among other things the conference will also be addressing ways to improve statistical education.