ipl-logo

Essay On Importance Of Statistics

1000 Words4 Pages

Data is constantly changing and evolving. But it is very important to adapt to these changes, because data is a critical aspect for growth of companies around the globe. Data is defined as plain facts and statistics that is collected during the everyday operations of a brand/company. While almost all types of companies collect data, it is very important for brands to make sense of that sense. Without being able to infer any insights and knowledge from the data, it becomes completely useless. That is why even if companies have a lot of information and data, sometimes they lose out because they are not able to sense out of it. Since its establishment, companies collect a lot of information and data about various things like customer information, …show more content…

From helping to decide the per capita of a country to the employment rate to the number of medical/schooling facilities required in a region, statistics has a very important role in the functioning of human society. In current times, statistics holds a very important and critical position in a number of fields including commerce, trade, psychology, chemistry, botany, astronomy among many others. This is because as a field, statistics has widespread applications in almost all types of areas and sickliness. Here are some important areas where statistics can be applied in for gathering better information and insights. 1. Business: Statistics has a very important and critical role to play in the field of business. This is because brands and companies are extremely competitive, making it difficult for brands to stay ahead of their customer expectations and desires. It is therefore important that brands take quick decisions so that they can take better decisions. Statistics can help brands understand the expectations of the customer and thereby balance their demand and supply in an effective fashion. This means that a lot of the decisions of brand is dependent on good statistical decisions and

Show More
Related

Hrm/531 Week 4 Paper

903 Words | 4 Pages

Understanding statistics will give me the ability to make better organizational

Read More

Analysis Of Why We Should Keep The Confederate Monuments Right Where They Are By John Daniel Davidson

520 Words | 3 Pages

In the text, there are many instances where statistical evidence is used to help back Davidson’s point. Using this method of evidence gains the readers by presenting interesting findings. The use of statistics

Read More

Unit 2 M2 Business Report

1362 Words | 6 Pages

The statistical surveying and information gives a knowledge to Tesco of what they client's needs and needs are. However the test that Tesco countenances is that it requires a considerable measure of time for an organization like Tesco to break down this information and believer it into insights. The benefit of this is Tesco procured another organization to dissect their information for them and they comprehended that it would be a great deal of work for them. However the weakness of this is this would be exceptionally costly for Tesco to get another organization to examine their information for

Read More

Porter's Five Forces Analysis Of Verizon

750 Words | 3 Pages

The information revolution is sweeping through our economy. No company can escape its effects. Dramatic reductions in the cost of obtaining, processing, and transmitting information are changing the way we do business. “To get ahead in today’s business world, a company must utilize the right resources. One of the most effective, of course, is information technology (IT), which has become an essential tool for businesses across many industries” (2013).

Read More

Persuasive Essay On Outliers

2106 Words | 9 Pages

The book “Outliers,” by Malcolm Gladwell takes readers on a momentous adventure of twists and turns through life's most optimistic lessons. The aspiration of the book “Outliers,’ is a reflection of how the author Gladwell would like his readers to view and glide through the journey called life. Examples given within the book help to shed light on positive lifelong learning experiences. The key question in the book “Outliers,” is what makes people who are great achievers different from regular people? ” The term “Outlier,” illustrates phenomena’s that can happen apart from what is considered to be the social norm (Gladwell, 2007).

Read More

Article Summary: Jeff Jacoby Bring Back Flogging

1760 Words | 8 Pages

Statistic is more accurate when it comes to show the level. For example, 1 bottle of soda might be “a few” for soda lovers, but it might be “too much” and unacceptable for the ones who want a healthy life or just hate the feeling of hiccups. Jacoby used statistics to support his argument, and let audiences get convinced after they get the numbers and start to feel the same way Jacoby feels. For example, when he discussed how jail is costly, he mentioned the price with the statistic. “Meanwhile, the price of keeping criminals in cages is appalling-a common estimate is 30,000 per inmate per year.”

Read More

Reality Is Broken Rhetorical Analysis

940 Words | 4 Pages

Using numbers and statistics can help prove evidence and make sure the argument is more convincing. As “Economist Edward Castronnova calls it a “Mass exodus” to game spaces, and you can see it already happening in the numbers” (Mcgonigal 5). With numbers and stats, it helps prove information, establish credibility, and make a comparison which Jane McGonigal

Read More

Plastic Bags Should Be Banned

1017 Words | 5 Pages

Similar to the use of ethos, statistics can also be utilized to add to the credibility of the writer and writing. In the article, statistics are used to give specific evidence supporting claims made by Summers. For instance, Summers makes his claim that plastic bags are in fact better for the environment and he uses evidence to back up his opinion. He says, “Compared to paper bags, plastic grocery bags produce fewer greenhouse gas emissions, require 70 percent less energy to make, generate 80 percent less waste, and utilize less than 4 percent of the amount of water needed to manufacture them.” The statistics used support Summers and illustrate the differences between plastic and paper bags.

Read More

Core Competencies Analysis

1081 Words | 5 Pages

The Core Competencies of Effective Business Consulting Services The art of business consultation is a more nuanced and subjective process than some may realize at first glance. There are plenty of standard practices that industry veterans continue to use, but most consulting firms view and define them differently. Each consultation job is a different case, and there’s no single process that works for every client. There are, however, more enlightened ways to view the fundamentals of effective business consulting practices. Common Views of Business Consultation

Read More

Coca Cola Unstructured Problem

994 Words | 4 Pages

Tasting Success Article Page 95 Discussion Questions Question 1 Which decisions in this story could be considered unstructured problems? And structured problems? Structured problem Can be defined as a straightforward, familiar and easily defined issue, and it is easily solved by the eight step-by-step process Identify a Problem, Identify Decision Criteria, Allocate Weights to the Criteria, Develop Alternatives, Analyze Alternatives, Select an Alternative, Implement the Alternative and Evaluating Decision Effectiveness. The issue as described in the article is the orange juice production and it is considered as a structured problem, and the way it is produced, its mechanism is responsible for the production as it is based on Coca-Cola’s mixture

Read More

Writing Essay: The Importance Of Writing

1129 Words | 5 Pages

Writing is not just about coming up with ideas and jotting them down on paper saying that it is your story because if it is then it is half done, and readers would not want to read what you have to say about how you feel on an experience that you have explored. Writing is about going through experiences and jotting those experiences down on paper and putting them in order so that the reader can understand what experiences you went through to get to the point that you have come to. Writing is a way to write you feel and to make it easy so that you do not have to speak what is on your mind. In my opinion writing can be my favorite thing to do because I like to write but when it comes to me speaking, I get nervous and do not know what to say when I get in front of a crowd. Writing can also be a way to get out of things such as if you want to break up with someone, tell your parents something that is bad that you do not want to tell them in person, talk to a doctor in a message just in case if your friends are

Read More

Why Is Writing Important To You Essay

816 Words | 4 Pages

How often do you sit down and take the time to write? A lot? Almost never? You might be saying close to never and telling yourself there 's no need to be writing on a daily basis. However, that may be the case because you haven 't taken a deep look into all the reasons for why writing is so essential.

Read More

Fashion Management Personal Statement

997 Words | 4 Pages

I also had the opportunity to work with statistical tools, such as Stata and R, as part of my ‘Learning from Quantitative Data’ and ‘Statistical Data and Analysis’ modules. The subject ‘Sample Surveys and Experiments’ required me to collect and work with real data to produce a comprehensive report on my findings. These modules gave me the qualitative and quantitative skills required to critically analyse research findings, which will be useful for the Research Methods unit and the

Read More

Persuasive Essay On Information Technology

949 Words | 4 Pages

Big Data There are many different definitions for Big Data. SAS (n.d.) an analytical software company describes it as, “a popular term used to describe the exponential growth and availability of data, both structured and unstructured.” Many think Big Data just came into existence but it has been around for years. Banks, retail, advertisers have been using big data for marketing purposes.

Read More

Health Statistics Essay

1237 Words | 5 Pages

Health statistics are important for knowing the health status of the whole population and its various segments and groups, as well as the trend in health status, the provision and distribution of healthcare services, and the impact of the provided services and programs. he success or failure of healthcare programs cannot be veriied without properly collected and interpreted health statistics. Proper allocation of resources also depends on health statistics. Researchers, presenters, and health care workers and students always need health statistics. However, it is not uncommon to ind a local article or presentation, which reports health statistics from all over the world, but fail to report local statistics from the Kingdom of Saudi Arabia (KSA).

Read More

More about Essay On Importance Of Statistics

Related Topics

Open Document