Top 8 Importance of Statistics
(i) Statistics in Planning
Statistics is one of the crucial parts of planning. Without statistics, the plan can’t be possible.
(ii) Statistics in Mathematics
Statistics is an essential part of mathematics. In other words, it is related as well as entirely depends upon mathematics.
(iii) Statistics in Economics
Whenever you are going to study statistics, you would also learn statistics. Statistics and Economics are interrelated with each other.
(iv) Statistics in Social Science
Statistical tools of regression and correlation analysis are used in social science to isolate these factors’ effects in every tested observation.
(v) Statistics in Trade
Trade without statistics is pretty tough and can be overwhelming for traders. It helps the trades to make wise decisions in uncertain situations.
(vi) Statistics in Research Work
Research work is all about statistics. The research worker’s job is to present the data before the community.
(Vii) Statistics in Programming
Most of the Python developers are learning statistics to enhance their careers in Python programming.
(Viii) Statistics in Data Science
As we know that statistics are widely used in data analytics and data science technologies. But it is the foundation of Big data technologies too.
What are the types of statistics?