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Statistical Analysis

Revision as of 15:54, 15 July 2019 by User (talk | contribs)

the science of collecting, exploring and presenting large amounts of data to discover underlying patterns and trends. Statistics are applied every day – in research, industry and government – to become more scientific about decisions that need to be made. For example:

  • Manufacturers use statistics to weave quality into beautiful fabrics, to bring lift to the airline industry and to help guitarists make beautiful music.
  • Researchers keep children healthy by using statistics to analyze data from the production of viral vaccines, which ensures consistency and safety.
  • Communication companies use statistics to optimize network resources, improve service and reduce customer churn by gaining greater insight into subscriber requirements.
  • Government agencies around the world rely on statistics for a clear understanding of their countries, their businesses and their people.[1]


Uses of Statistical Analysis[2]

Statistical Analysis may be used to:

  • Summarize the data. For example, make a pie chart.
  • Find key measures of location. For example, the mean tells you what the average (or “middling”) number is in a set of data.
  • Calculate measures of spread: these tell you if your data is tightly clustered or more spread out. The standard deviation is one of the more commonly used measures of spread; it tells you how spread out your data is about the mean.
  • Make future predictions based on past behavior. This is especially useful in retail, manufacturing, banking, sports or for any organization where knowing future trends would be a benefit.
  • Test an experiment’s hypothesis. Collecting data from an experiment only tells a story when you analyze the data. This part of statistical analysis is more formally called “Hypothesis Testing,” where the null hypothesis (the commonly accepted theory) is either proved or disproved.
  1. Definition - What Does Statistical Analysis Mean? SAS
  2. What is Statistical Analysis Used For? Statistics How to