Welcome!
In this post we will touch upon the following question, what is
statistics?
"There
are lies, damned lies, and statistics" - Mark Twain.
Per
google
sta·tis·tics
/stəˈtistiks/ noun: statistics
The
practice or science of collecting and analyzing numerical data in large
quantities, especially for the purpose of inferring proportions in a whole from
those in a representative sample.
synonyms:
|
"recent
statistics show an increase in allergic reactions"
|
Statistics
is the science of sorting, analyzing, and evaluating information that we
encounter in school, at work, and throughout everyday interactions. It requires
using skills and understanding to organize, summarize, and analyze data
Per
Miriam Webster
1 : a branch of
mathematics dealing with the collection, analysis, interpretation, and
presentation of masses of numerical data
2 : a collection of
quantitative data
Statistics
is the science of gathering, organizing, and making sense of data in a
meaningful way in order to understand the world around us and make
informed decisions based on that data. It may be applied to both business
and personal activities.
All
in all
Statistics
is a mathematical method or science used to organize, evaluate and compile data
or facts. More specifically statistics refers to the process of collecting,
organizing, presenting, analyzing, and interpreting data to help us in making
effective decisions. It can be used in any field of work or study and often we
use statistics regardless of if we know it or not. Consider it a method of
making potentially complicated and hard to understand data easier to
understand.
Statistics
are provided to us in many forms and mediums, for example it can be used
in politics to see which candidate is polling better in a particular state,
schools and graduation rates, hospitals and infection rates, businesses and
seeing what products are more profitable, social media and trends, and more.
Statistics enables us to get as much out of numerical information as
possible. For example it allows researchers to evaluate conclusions
derived from sample data. Statistics aids in the process of the scientific
method by collecting data, interpreting and analyzing it. It also allows for
measures that assess the reliability of conclusion based on sample data even
when faced with issues related to variability and uncertainty. Note that there are different levels of measurements including
nominal-level, ordinal-level, interval-level, and ratio-level (see
this previous post for reference).
Statistics and its respective calculations look at the data in a new way and
make better use of it so that it can assist us in not only business and
work-life, but also in our personal decision-making. Statistics is the
science of collecting, organizing, presenting, analyzing, and interpreting data
to allow effective decisions making in business, economics, and everyday
life.
Side
note
Statistics can
also refer to numerical information such as percentages, outcomes, and ratios.