Introduction to Statistics

We are surrounded by several digital devices and generated tons of data. How to collect the validated data and then find the usage patterns, is possible because of Statistics.

Earlier it was a branch of mathematics but later it becomes a separate domain because of its stupendous scope in research and development, business management, and all sectors where data

is being used for interpretations.

Statistics tell how to collect data, how to analyze data, how to interpret data. These data are being stored for Data-driven decision management.

I am sure, you have heard that there are 3 kinds of lies said by Benjamin Disraeli and Mark Twain.

1. Lies

2. Damned lies

3. Statistics

You have seen some of its examples in an advertisement.

i.e

(i) This chips packet is 30% tastier.

(ii) This is the dentist's favorite brand toothbrush of toothpaste.

Here, understand that Statement first: "This Chips packet is 30% tastier." If this individual is tastier and precisely 30% more than which one is considered as a base. Let's understand, if you have 4 chips packet and you have tasted all and gave your opinion that as per me packet A is the tastiest.

Thereafter you can arrange in ascending order the other 3 chips packet. Advertisers must mention the other 3 packets details then only it is authentic information. Without mentioning the other chips packet's details, couldn't say which one is better.

But precisely telling with a number(30%) is just to take the attention of the audience for a better promotion and marketing, but it is also a kind of lie.

So, statistics are used on how to lie to just interpret things in different ways to capture the market in business.

There are lots of applications that are possible only because of statistics.

It could be using the strategies to drop the bomb by fighter-plane in world war-2(1939-1945) by the USA or make different varieties of wine in Europe.

Predict the political party who would win the vote in advance.

Statistics is being used everywhere wherever plenty of data is available.

Statistics is understood as to collect and analyze the data so that some hidden insights could be found and used in the betterment.

Claps for you.