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| Photo: The Hans India |
The world is becoming more and more quantitative and data focused. Whatever information you may have, there are statistics to back it.
For instance in recent cricket match between India and England held in Chennai, India win because of data analysis.
l Analysts collect data and videos through different applications, based on the findings prepare strategies and analysis to tackle and opposition team.
l Analyze strengths and weakness of the players in opponent teams.
l The analyst’s report helps coaches and players in strategizing their matches.
l During IPL auctions, data analysts prepare a report for the franchises with a list of best players.
l Every match strategy of India is backed by strong data culled by analysts.
This shows how statistics essentially involves in putting mathematics to scientific use in the collection, analysis, interpretation, and presentation of masses of numerical data. Statistics is the study of the collection, organisation, analysis, interpretation and presentation of data. Statistics plays a significant role in every field of human activity. Statistics has important role in determining the existing position of per capita income, unemployment, population growth rate, housing, medical facilities etc. in a country.
l Developing newer and more efficient methods of collecting data
l Organizing data
l Developing newer methods to analyze the information.
l Statisticians are heavily involved in the development of products and quality factors.
l Statisticians work for automobile, pharmaceutical, or computer software companies in trial testing and product evaluation.
l Statisticians also involved with the manufacturing, asset, liability, and risk management, and marketing departments of firms.
l It plays a central role in almost all natural and social sciences.
l Statistics helps in drawing conclusions and measurements more precisely.
l Statistics play an important role in banking.
l Banks make use of statistics for several purposes.
l Banks work on the principle that all the people, who deposit their money with the banks, do not withdraw it at the same time.
l Statistics is essential for a country.
l Different policies of the government are based on statistics.
l Statistical data are now widely used in taking all administrative decisions.
l Statisticians hired to evaluate population, demographic, and economic measurements.
l Statisticians use sampling techniques determine sizes of populations, unemployment rate, literacy levels, malnutrition numbers, dowry deaths and other sociological issues.
l To revise the pay scales of government employees, statistical methods will be used to determine the rise in the cost of living.
l Accounting is impossible without exactness.
l Based on statistics, decision is taken.
l Sampling techniques are employed in auditing.
l An auditor determines the sample size of the book to be audited based on error.
l Statistics plays a vital role in almost all the natural and social sciences.
l Statistical methods are used for analyzing the experiments’ results, testing their significance in Biology, Physics, Chemistry, Mathematics, Meteorology, and Research studies of commerce, Sociology, Business, Public Administration, Communication and Information Technology etc.
l Astronomy deals with the measurement of distance, sizes, masses and densities of heavenly bodies by means of observations.
l Probable measurements are arrived at by using statistical methods.
l In olden days astronomers used statistical methods for finding the movements of stars and the distance of the moon from the earth.
l The job of Medical statisticians involves monitoring and surveillance of diseases and health patterns of the sample under study.
l It involves establishing the cause of disease or the factors associated with disease and death as well as analyzing studies to determine if new drugs and medical devices are safe and effective for pharmaceutical companies, medical research centres, or the Food and Drug departments.
l In the field of agriculture and agri-business, statisticians analyze data from agricultural experiments to increase productivity and yield.
l Statisticians also evaluate the environmental impact of air, water, and soil pollutants at a research laboratory, commercial environmental clean-up firm.
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| Photo: The Hans India |
Source: The Hans India
