What is Statistics Analysis & Where can We Use it?

The statistics field is touching lives for several years and in several ways. It starts from daily routines to the businesses that make the biggest cities to run, and the statistics are applied everywhere. Therefore, this blog will provide you all the relevant details of statistical analysis, where it is used, and much more information. So, before proceeding to the details, let’s get details on what statistics analysis is.

What is the statistics analysis?

It is the method of collecting the data, exploring it, and finally representing a large amount of information to analyze the trends and patterns of the given data. Statistics are used in everyone’s daily routine, including industries, researches, and governments. It is also used to make scientific analysis and then decide the results of the particular data. Let’s take some of the examples of it:

  • The manufacturers use the statistics to make qualitative designs that enhance the beauty of the fabrics, and it is also used for bringing the lifts to the industries of airlines, besides this, it helps the guitarist to make the beautiful notes of the music.
  • Several researchers  use the statistics analysis to keep children healthy by analyzing the data from the vaccines of viral diseases, and these vaccines ensure safety and consistency.
  • There are various communication companies that use statistics to utilize the network sources, enhance the services, and minimize client churn by organizing greater views of subscriber requirements.
  • Government agencies of the world also rely on these statistics analysis to clear out the data of their nations, their individuals, and their businesses.
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Now, we can say that wherever you look, you can find the uses of statistics. It starts from a tube of toothpaste to the flying planes, and one can see tons of products and use it every day that has improved with the help of statistics.

Where one can compute the statistics analysis

There are various traditional ways for statistics analysis, such as it starts from sampling the data to interpreting the outcomes of the data, and these are used by researchers and scientists from hundreds of years. But nowadays, the data volumes use statistics even more powerful and valuable. Powerful computers, advanced algorithms, and affordable storages all led to an increment use of computational statistics data.

If you are working with a wide range of data volumes or working with various permutations of the measurements, statistics computations are becoming important for statisticians. There are various statistics computational methods that include:

Econometrics

Sampling, forecasting, and improving the business processes with the help of useful strategies and tactical plannings. These techniques apply statistics to economics to predict future trends.

Matrix programming

Powerful computer methods are used to implement statistical techniques and exploratory data analysis using matrix programming for row operation algorithms.

Statistic quality enhancement

A mathematical approach is used to review the quality and safest characteristics in all aspects of productivity.

Statistical programming

With the help of traditional analysis of linear regression and variance to exact ways and statistical visualization methods, statistical coding is important for taking the data-based decisions in each field.

Operation Research

Analysing the actions which are producing the best outputs – might be based on several possible outcomes and options. Simulating, scheduling, and sampling the processes are all used to managing the challenges and optimizing the business processes.

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Statistical visualization

The fast and interactive statistics analysis and exploratory abilities for visual interfacing are used to analyze the wide range of data and build the models of it.

Make futuristic predictions based on the study of past behaviors

It is useful in manufacturing, sports, retailing, banking, or any other company where future predictions can bring benefits to the organizations.

Testing the hypotheses of an experiment

Gathering the data from observation only lets you know the overall story of the analyzes. This portion of the statistics analysis is formally known as “Hypotheses Testing,” where null hypotheses are either disproved or proved. 

When statistics analysis lie

The statistics analysis might sound like rocket science that uses technical methods to summarize and represent the “facts and figures” of the wide-ranged data. This involves deliberating and manipulations that are accidentally done, of the outcomes. But sometimes, statistical analysis is plain wrong, and a renowned example of it is “Simpson’s Paradox”, which is used to represent the best statistics which are completely useless for the studies. In the case of Simpson’s study, the average admissions from the University of Berkeley show that the rate of admissions were higher for women as compared to men, but actually, it was not true. Therefore, you can see that here statistics analysis is a complete lie, and they can not represent the exact data of the study.

There are some other examples of plain dumb manipulation of statistics; like:

  • Misleading statistics examples in the News and Advertisements.
  • Misleading Graphs: Real-life examples.

Therefore, it becomes necessary that one should use statistical data carefully as it is used to study large data analysis and to use its prediction for future studies.

A career as a statistics analyst

Persons from the New York Times to Chief Economist of Google proclaims that statistics is the trending career field, and we are non to argue this statement. You might be thinking that why is everyone here talking about the career in statistics analysis and data science? This might be because of a shortage of trained analysts. Or it might be because of the high demand for managing the large data strains. Or it might be an exciting concept that is used to bring a difference in the real world.

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If you have ever met the statistician, you found that they have several stories that inspire them to become a statistician as, during their childhood. This interest was brought from collecting the baseball cards. Or using the statistical methods to win the games like Axis and Allies. It could be their early passion, too, that motivates them to become a statistician in a particular field. During adulthood, this passion carries over to the workforce where they can apply their passion to everything; it starts from influencing the friends for purchasing decisions to the studies of endangered species of the world.

Conclusion

Statistics analysis is used in science, which is from physics to social science. Besides this, to test the hypotheses, statistics can be used to offer an approximation value for an unknown figure, which is impossible to calculate. For example, social science topics such as the study of choice or consciousness, that is impossible to calculate; statistical analysis can bring the focus on the least likely scenario.

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