Statistics is a branch that deals with every aspect of the data. Statistical knowledge helps to choose the proper method of collecting the data, and employ those samples in the correct analysis process, in order to effectively produce the results. In short, statistics is a crucial process, which helps to make the decision based on the data.
Definition of Statistics
Statistics concerns with the collection of data, organisation, interpretation, analysis and the data presentation. The main purpose of using statistics is to plan the collected data in terms of the experimental designs and statistical surveys. Statistics is considered as a mathematical science that works with the numerical data. In short, statistics is a crucial process, which helps to make the decision based on the data.
Branches of Statistics
The two main branches of statistics are:
- Descriptive Statistics
- Inferential Statistics
Descriptive Statistics – Through graphs or tables or numerical calculations, descriptive statistics uses the data to provide the descriptions of the population.
Inferential Statistics – Based on the data sample taken from the population, inferential statistics makes the predictions and inferences.
Both types of statistics are equally employed in the field of statistical analysis.
Characteristics of Statistics
The important characteristics of Statistics are as follows:
- Statistics are numerically expressed.
- It has an aggregate of facts
- Data are collected in systematic order
- It should be comparable to each other
- Data are collected for a planned purpose
Uses of Statistics
The important functions of statistics are:
- Statistics helps in gathering information about the appropriate quantitative data
- It depicts the complex data in the graphical form, tabular form and in diagrammatic representation, to understand it easily
- It provides the exact description and better understanding
- It helps in designing the effective and proper planning of the statistical inquiry in any field
- It gives valid inferences with the reliability measures about the population parameters from the sample data
- It helps to understand the variability pattern through the quantitative observations
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