Statistics

12th - Statistics

Statistics is the science and, arguably, also the art of learning from data. As a discipline it is concerned with the collection, analysis, and interpretation of data, as well as the effective communication and presentation of results relying on data.

Subject Details

Statistics lies at the heart of the type of quantitative reasoning necessary for making important advances in the sciences, such as medicine and genetics, and for making important decisions in business and public policy.

Gathering information to use in measurements, or outlining the information, is just leeway in business if a chief uses a consistent approach and gathers and reports information in a moral way. For instance, he may utilize measurements to decide whether deals levels the organization accomplished for the last couple of items propelled were even near anticipated deals levels. He may choose that the slightest performing item needs additional venture or maybe the organization ought to move assets from that item to another item.

Statisticians are in demand in all sectors of society, ranging from government, to business and industry, to universities and research labs. As a statistician you can be involved with the development of new lifesaving drugs in a pharmaceutical, the shaping of public policy in government, the planning of market strategy in business, or the management of investment portfolios in finance. Not only are there a wide variety of exciting opportunities for statisticians, but careers in statistics generally can be quite lucrative, with statisticians of sufficient experience often able to earn six-figure income.