what are statistical tools for data analysis

Affordable storage, powerful computers and advanced algorithms have all led to an increased use of computational statistics. But today’s data volumes make statistics ever more valuable and powerful. Traditional methods for statistical analysis – from sampling data to interpreting results – have been used by scientists for thousands of years. From the tube of toothpaste in your bathroom to the planes flying overhead, you see hundreds of products and processes every day that have been improved through the use of statistics.

Government agencies around the world rely on statistics for a clear understanding of their countries, their businesses and their people.Communication companies use statistics to optimize network resources, improve service and reduce customer churn by gaining greater insight into subscriber requirements.Researchers keep children healthy by using statistics to analyze data from the production of viral vaccines, which ensures consistency and safety.Manufacturers use statistics to weave quality into beautiful fabrics, to bring lift to the airline industry and to help guitarists make beautiful music.Statistics are applied every day – in research, industry and government – to become more scientific about decisions that need to be made. What is statistical analysis? It’s the science of collecting, exploring and presenting large amounts of data to discover underlying patterns and trends.

From the daily routines in our homes to the business of making the greatest cities run, the effects of statistics are everywhere. The field of statistics touches our lives in many ways.

What are statistical tools for data analysis