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About the company

Lifestyle

Lifestyle Started as a single store in Fujairah in 1997 with mainly catering to Home
Decoration products and some Female Beauty products. The company grew multiple
folds ever since it entered KSA market. Presently the company had a turnover of 1.4
Billion in 2016.

Lifestyle is currently going a major shift according to the market demand & the
market dynamics.

Being a leader in the market for home decoration products in luxury and oriental taste
of the population.

Lifestyle is present in UAE, KSA, Oman, Libya, Nigeria, Yemen, Qatar, Pakistan,
Kuwait, Bahrain, Egypt, Lebanon, and Iraq

Statistical Data (importance & their sources)

Statistics is a branch of study dealing with the collection, analysis, interpretation,


presentation, and organization of data. In applying statistics to, e.g., a scientific,
industrial, or social problem, it is conventional to begin with a statistical population or
a statistical model process to be studied. Populations can be diverse topics such as "all
people living in a country" or "every atom composing a crystal." Statistics deals with
all aspects of data including the planning of data collection in terms of the design of
surveys and experiments

When census data cannot be collected, statisticians collect data by developing specific
experiment designs and survey samples. Representative sampling assures that
inferences and conclusions can safely extend from the sample to the population as a
whole.

An experimental study involves taking measurements of the system under study,


manipulating the system, and then taking additional measurements using the same
procedure to determine if the manipulation has modified the values of the
measurements. In contrast, an observational study does not involve experimental
manipulation.

The statistics are divided into two categories,

Two main statistical methods are used in data analysis: descriptive statistics, which
summarize data from a sample using indexes such as the mean or standard deviation,
and inferential statistics, which draw conclusions from data that are subject to random
variation.

Descriptive statistics are statistics that quantitatively describe or summarize features


of a collection of information. Descriptive statistics are distinguished from inferential
statistics, in that descriptive statistics aim to summarize a sample rather than use the
data to learn about the population that the sample of data is thought to represent. This
generally means that descriptive statistics, unlike inferential statistics, are not
developed on the basis of probability theory.

Even when a data analysis draws its main conclusions using inferential statistics,
descriptive statistics are generally also presented. Example, in papers reporting on
human subjects, typically a table is included giving the overall sample size, sample
sizes in important subgroups, and demographic or clinical characteristics such as the
average age, the proportion of subjects of each sex, the proportion of subjects with
related comorbidities etc.

Descriptive statistics provide simple summaries about the sample and about the
observations that have been made. Such summaries may be either quantitative, i.e.
summary statistics, or visual, simple-to-understand graphs. These summaries may
either form the basis of the initial description of the data as part of a more extensive
statistical analysis, or they may be sufficient in and of themselves for a particular
investigation.

For example, the shooting percentage in basketball is a descriptive statistic that


summarizes the performance of a player or a team. This number is the number of shots
made divided by the number of shots taken. For example, a player who shoots 33% is
making approximately one shot in every three. The percentage summarizes or
describes multiple discrete events. Consider also the grade point average. This single
number describes the general performance of a student across the range of their course
experiences.

The use of descriptive and summary statistics has an extensive history and, indeed, the
simple tabulation of populations and of economic data was the first way the topic of
statistics appeared. More recently, a collection of summarisation techniques has been
formulated under the heading of exploratory data analysis: an example of such a
technique is the box plot.
Inference statistics is the process of deducing properties of an
underlying distribution by analysis of data. Inferential statistical analysis infers
properties about a population: this includes testing hypotheses and deriving estimates.
The population is assumed to be larger than the observed data set; in other words, the
observed data is assumed to be sampled from a larger population.
Inferential statistics can be contrasted with descriptive statistics. Descriptive statistics
is solely concerned with properties of the observed data, and does not assume that the
data came from a larger population.
Statistical inference makes propositions about a population, using data drawn from the
population with some form of sampling. Given a hypothesis about a population, for
which we wish to draw inferences, statistical inference consists of
(firstly) selecting a statistical model of the process that generates the data and
(secondly) deducing propositions from the model.
The conclusion of a statistical inference is a statistical proposition. Some common
forms of statistical proposition are the following:

a point estimate, i.e. a particular value that best approximates some parameter of
interest;
an interval estimate, e.g. a confidence interval (or set estimate), i.e. an interval
constructed using a dataset drawn from a population so that, under repeated
sampling of such datasets, such intervals would contain the true parameter value
with the probability at the stated confidence level;
a credible interval, i.e. a set of values containing, for example, 95% of posterior
belief;
Rejection of a hypothesis.
Clustering or classification of data points into groups.

Example for Market research given below that the businesses can
use for the expansion purpose.
Customer satisfaction

How satisfied are your customers? What could you being doing better? Find out with
a market feedback survey designed to learn about consumers experiences. Questions
like, What do you like most about our new product? and, How likely are you to
recommend your real estate agent to others? will help you determine gaps in your
products and services.

Product and service development

You have a great idea for a product or service, but is the world ready for it? Before
you start doodling concept sketches on napkins, conduct a marketing research survey
to discover the designs and features your audience will love. Already launched? Use
research questionnaires to get ready for version 2.0. Ask your participants questions
such as, If you are not likely to use our new product, why not? or, What would
make you more likely to use our new service? and youll be on your way to
delighting your customers.

Demographics

Age, gender, and income of your audience are all characteristics that contribute to the
successful development and marketing of your product or service. When you know
who your customers are, youre in a great position to better understand their needs,
and youll be able to make better business decisions. Ask general questions like,
Which of the following categories best describes your typical customers
employment status? or, How old is your typical customer? and gain valuable
demographic information.

Industry-specific surveys

Get detailed information about your industry or business with one of our marketing
survey templates. Get answers to questions like, When choosing skin care products,
which of the following factors matter to you? or, Are you a first-time home buyer,
or have you purchased a home before? and youll have data you can put to work
immediately to fine-tune your service and product offerings.
Bibiliography

https://en.wikipedia.org/wiki/Statistical_data_type

https://en.wikipedia.org/wiki/Statistics

https://en.wikipedia.org/wiki/Descriptive_statistics#Use_in_statistical_analysis

http://www.statisticaldataanalysis.net/exploratory-and-confirmatory-data-analysis/

https://en.wikipedia.org/wiki/Statistical_inference#Introduction

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