Why businessmen use statistics?

Business deals with numbers and with numbers comes risk. There are several reasons as to why a business can fail, but for sure there is no business that runs today without the count of numbers and without a risk-return calculation process. Some might call it financial analysis and other finance related terms, but one should carefully note that these financial terms and financial jargons all have a common backbone – statistics. Statistics gives all the means that are required to calculate the risk Read more [...]

How Statistics is helping in Business

The branch of mathematics which helps to transform numbers into respective important information that are used for making decisions is known as statistics. This particular subject lets an individual to know about risky situations that are associated with a particular business decision. So, it helps to get deeper knowledge of a problem and gives the individual ways for making different decisions regarding the business. Statistics helps a business firm by providing different methods for variations Read more [...]

The subject called Statistics

The study of analyzing data is known as statistics. In this study the collection of different data and processing that information are involved. The result of the analysis is done either as cumulative information or represented in graphical manner. The result is made in such a manner so that the reader gets to know about the analysis by looking on it visually. The subject includes the interpretation of rough information or data that are based on different surveys or theories. This is known as statistical Read more [...]