7 Excellent Reason Why Statistics Is Important | Statistical Data Analysis Services- Statswork

1. 7 EXCELLENTREASONS WHY STATISTICS AREIMPORTANT An Academic presentationby Dr. Nancy Agens, Head, Technical Operations, Statswork Group www.statswork.com Email:info@statswork.com

2. TODAY'SDISCUSSION Outline Introduction Examples Conclusion

3. Introduction Mark Twain once quoted, “FACTS ARE STUBBORN THINGS,BUTSTATISTICSAREPLIABLE.” You are a statistician in many ways. Statistics is that the technique of conducting a study of a couple of specific topics by aggregation, organizing, decoding, and eventually presenting data. Statistics are used to analyze what's happening within the world around us. In this data-driven world, all activities of ours are monitored by someone else every time. Statistics holds a key position in nearly every field like Research, Innovation, Commerce, Trading, etc.; therefore, application of statistics is incrediblycomprehensive.

4. Examples Statistics help us to convert whatever occurs in the past can be used in predicting thefuture. Let us take some examples which will help you realise the role of statistics in your dailylife.

5. 2 EMERGENCY MANAGEMENTAGENCY 1 FORECASTINGWEATHER Do you ever watch the weather outlook throughout the day time? We all tend to watch weather forecasts. Have you ever thought of how does one get that data and how we use that information? Forecastersuse computer models applied and build on statistical ideas. These models compare previous weather with the present climate and predict futureclimate. What if the forecast reports that a cyclone is close at hand or the tornadoes are possible tooccur? Emergency management agencies get in the gear mechanism to be able to rescuefolks. Emergency groups believe in getting informed by statistics once danger may occur. Statistics employed mainly by the scientist. They use their skills to gather relevant knowledge. Otherwise, it ends up in a loss of cash, time anddata.

6. 3 4 PREDICTINGDISEASE GENETIC ENGINEERING Statistics play an enormous role in the field ofmedicals. Before prescribing any medication, the scientist should show a statistically valid rate ofeffectiveness. For instance, studies have shown that smoking causes 80-90 % ofcancer. The dataought to tell you that just about all cancer area associated with smoking which if you would like to possess a reasonable probability of avoiding respiratory organ cancer, you should quitsmoking. Many people are grieved with diseases as a genetic disorder, and these diseases will probably be passed on to theirkids. Statistics are essential in regulating the probabilities of a replacement baby being laid low with theillness. Genetic Engineering offers the chance of cures for disease and infinite material enhancements tolifestyle.

7. POLITICALCAMPAIGNS 5 6 INSURANCE Statistics is vastly vital in politics. Candidates consult citizen polls to see wherever and the way they campaign. News media ask their models once theytryandpredict who the winneris. What is insurance? All of us are insured, whether it's medical, life or any otherinsurance. Statistics are employed to work out what risk insured poses to an insurance company, what share of policies is probably going to pay, and the way abundant cash a corporation will expect to pay inclaims.

8. QUALITYASSURANCE 7 Companies create thousands of products daily, and every company should confirm that a decent quality item isoversubscribed. However, a companycannot take a lookat every item that they ship. Thus, they use statistics to check a couple of, known as a sample, of what theycreate. If the sample passes quality tests, then the corporate assumes that everything created among the cluster referred to as a batch, areexcellent.

9. If you would like to use data to find out how the globe works, you want to have statistical data to trust your knowledge and yourresults. Conclusion There’s simply no means aroundit. Even though you're not going through studies, understanding statistical principles will assist you in assessing the standard of alternative studies and also the validity of theirconclusions. Statistical information will even facilitate your vulnerability to artful ends that have associateagenda.

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