Unleashing the Human Development Through Prescriptive Analytics Based on the Principle of Vasudhaiva Kutumbakam

Srikanta Patnaik () and Deepti Patnaik ()
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Srikanta Patnaik: Interscience Institute of Management and Technology
Deepti Patnaik: Kalinga University

Chapter Chapter 9 in Economic Systems and Human Rights, 2024, pp 155-173 from Springer

Abstract: Abstract In today's data-rich world, the Sanskrit principle of Vasudhaiva Kutumbakam, meaning “the world is one family,” resonates profoundly, advocating global unity and cooperation. This principle, rooted in Indian philosophy, inspires endeavors promoting empathy, social justice, and sustainability worldwide. Data analytics, especially prescriptive analytics, aligns well with Vasudhaiva Kutumbakam, offering insights to optimize resource allocation, healthcare, supply chains, and environmental sustainability globally. By analyzing global data, prescriptive analytics ensures equitable resource distribution, efficient healthcare delivery, and minimizes waste, fostering cooperation and compassion. However, ethical considerations are paramount. Upholding the dignity and rights of all individuals is crucial, addressing privacy, bias, transparency, and accountability in analytics usage. By embracing Vasudhaiva Kutumbakam and ethical analytics practices, we strive toward a world where every individual is valued, contributing to human development and global well-being.

Keywords: Vasudhaiva Kutumbakam; One earth; One family; One future; Data analytics; Cooperation; Compassion; Unity; Empathy; Social justice; Sustainability; Dignity; Transparency; Bias; Accountability; Ved; Hindu mythology; Transformative; Selflessness; Interdependence; Peace-building; Strategy; Self-realization; Data-driven; Decision-making (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-72866-2_9

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DOI: 10.1007/978-3-031-72866-2_9

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