Applications of Statistics in Data Science

and Data Analytics

Statistics can be in the form of quantitative and qualitative methods as it can be used to help solve
complex problems. By performing these statistical methods, the companies can help us compare and
search for meaningful trends and changes in data where the top-level management will use this data
to make decisions for their future trends.

According to Data Science Central, data is raw information, and data scientists learn how to mine it.
Data scientists utilise a cumulation of statistical formulas and computer algorithms to descry
patterns and trends within data. Then, they utilise their erudition of social sciences and a particular
industry or sector to interpret the construal of those patterns and how they apply to genuine-world
situations. The purpose is to generate value for a business or organisation.

When data analysts apply sundry statistical models towards the data they are working on, they can
understand and can interpret the information more strategically which is better than sifting through
the raw data, this practice sanctions them to identify relationships between variables, make
presages about future sets of data, and can visualise that data so that non-analysts and stakeholders
can consume and leverage it. Meanwhile, data scientists are most often tasked with building models
and inditing algorithms; analysts additionally interact with statistical models in their work and
method on occasion. For this reason, analysts who are looking to excel should aim to obtain a solid
understanding of what makes these models prosperous.

Statistics provides the practical and implements to find structure in sizably voluminous data and give
individuals and organisations a more in-depth insight into what truths their data is exhibiting.
However, statistics is one of the most fundamental steps of insightful and exciting data science– it’s
withal the linchpin that ties the whole process together from start to fruitful finish. Statistical
methods are the implement of cull here as utilising their methods; one can handle a plethora of
analytical tasks to good results.