The Data Services and Innovations Department (DSID) is established as part of the restructuring of the Bank in 2022. The step was taken to improve the effectiveness and efficiency of the statistical data management processes, modernize the data dissemination and innovate statistics needed by the Bank to meet its objectives and functions. Resultantly, the Statistics & Data Warehouse Department (SDWD) was split into two departments: (i) Core Statistics Department (CSD) and (ii) Data Services and Innovations Department (DSID).
The SDWD had evolved from Statistics Department which was established in 1949 by late Zahid Hussain, the founding Governor of SBP. The Statistics Department was then entrusted with the responsibility to establish and run a strong data management system for producing reliable statistics related to country's external accounts, monetary, and credit system. Subsequently, on restructuring of State Bank of Pakistan in 2006, it was renamed as Statistics & Data Warehouse Department (SDWD).
Data Services and Innovations Department (DSID) is mainly conferred with the responsibility of establishing and managing an effective and efficient system for communication and dissemination of statistics using state of the art tools such as EasyData (https://easydata.sbp.org.pk) and its allied products and services. The department works closely with Core Statistics Department to ensure that all data are disseminated within prescribed timelines. The department also manages regular data sharing with national and international agencies such as Pakistan Bureau of Statistics (PBS), Ministry of Finance (MoF), International Monetary Fund (IMF), Asian Development Bank (ADB), South Asian Association for Regional Cooperation (SAARC) and other institutions.
This department is also entrusted with the responsibility to use innovative approaches for producing the statistics needed for effectively achieving the Bank's objectives by exploring, implementing and managing the operations of big data and machine learning based solutions to support economic policy analysis and research. Moreover, the department plays an important role in strengthening the regulatory and statistical information management system (also known as Data Warehouse) of the Bank.
DSID also provides critical support to Monetary Policy Committee (MPC) by conducting regular surveys including but not limited to Business Confidence, Consumer Confidence (households) and Bank Lending surveys through state of the art Center for Surveys. The survey center was previously working under the auspices of Research Department of the Bank. The department also prepares Monetary Policy Information Compendium (MPIC) to facilitate the MPC.
The department also takes care of producing important statistics such as Flow of Funds Accounts of the country, high frequency Real Sector data required by its stakeholders besides producing flagship publications such as Statistical Supplement to SBP's Annual Report on State of Pakistan's Economy, Inflation Monitor, financial statement analysis of financial and selected non-financial corporate sectors of the country, and Monthly Statistical Bulletin etc.