How often are you using statistics in your work? Do you think statistics is overlooked in business?

Hi,

       Statistics is a study based on set of assumptions which are supported by actual situations.Thus it gives a probability of chances may happen. By this we will get a set of results. By proper analysis of this data we can predict the next events, which we can try to avoid or decrease the impact. I would say statistics should be used  more applicable manner for the better future.

Management or business owner needs a basis/data for any decision. The basis is historical statistics. currently most of the companies facing economic challenges. in order to use a tools to save money such as Degress of implementation, we need statistics of1-consumptions.2-plan reliability3-production efficiency4- production quality

statistics is used everyday in any and every industry, root of any and all problems can be found with the right data

Statistics is not overlooked in current businees infact businesses are getting more aware of statistics and working towards utilising it

Hi,

I am basically into Prodcution, Statistics is the heart of our function, it determines whether company goes in a right direction, we can get immediate response in case of deviation. Also Statistical data helps us to improve our business trend. To arrive product cost & to determine where we are lagging statistic tools are more important.

For quality assurance statistics is the real tool to make sure the consistence in the quality. 

Statistics is used every day in my work , applying it correctly and it will gives great results, you may need some times to add human factor to the statistics results .

I use the statistics in My Job to analysis the data and to find the deviation between the target and results to improve the performance of the company

There are many benefits of using business statistics in a business to make decisions.  You cannot just guess what you think might happen in the future without providing some type of information to back what you are saying.  Statistics are factual and are used to eliminate the guessing within a business.  When faced with a big decision in your company, don’t just guess – use the facts – business statistics!

agree with expert answers

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Thanks for the invite I agree with the answers relevant experts

Hi Mohammad,

Good evening. I always try to use, day in day out at my work place, but there are curtail if your colleagues are not believe on it. In my opinion, statistic is like nuclear fuel, if you will use deliberately then it will give you power to make decision, but if you will misuse then it will destroy the business. In today’s world, mountain of information, data available on your fingers tips due to advancement in technology. Statistic has tools to analysis the data and help to interpret it, so it will helps to make take correct action to business issue or hindered. But, only statistics could not help, it should be merge with the field expert so the outcome results can be judged.