MemberMay 28, 2021 at 7:48 pm::
The field of statistics is the science of learning from data. Statistical knowledge helps you use the proper methods to collect the data ,employ the correct analyses, and effectively present the results. Statistics is a crucial process behind how we make discoveries in science ,make decision based on data, and make predictions . statistics allows you to understand a subject much more deeply.
Statistics also play several important roles in these scientific studies,
First, they plan the studies to ensure that the data are collected efficiently and answer the questions relevant to the investigations .
Second ,they analyze the data to discover what conclusions can be reached from the study and what issues need further investigation.
Common sectors where statistics used enormously:
1. Weather forecasting :
It is an important piece of information which we must know. Television channels use statistics to present data to describe the forecast like colorful bars , straight lines and other shapes.
2.The financial market:
it is not complete without statistical data. For layperson , it is hard to understand the complicated scenario of share market and other financial sectors. it is easier to represent valuable data with the help of diagrams, charts, and other statistical table.
3.In Multinational companies :
Statistics is an integrated part of their projects. they use charts and statistic parameters to monitor the performance of their employees
4. In quality testing:
statistical concepts are used to assume probable outcomes. They make every result crystal clear so, whenever any business house is going to purchase some raw material or other materials they can easily decide based on the statistical data.
There are some other real life examples like mobile applications, health and medicine , political sector news channel , space science, and much more