World Statistics Day, an important business tool
Posted: Sat Dec 21, 2024 4:12 am
Discover why statistics is one of the driving forces for improving data-based decision-making in business management.
World Statistics Day is celebrated on 20 October with the theme “Connecting the world with data we can trust”.
We explain why this branch of knowledge is an essential business tool for improving the functioning of companies.
The third edition of World Statistics Day is celebrated on October 20, 2020. This message undoubtedly highlights the importance of user trust, authoritative data , and innovation in statistical systems at a global level in companies.
Statistics is one of the driving forces behind improved decision-making in business management . However, in order to manage and interpret data effectively, companies must have a greater statistical culture.
The dictionary of the Royal Spanish Academy defines statistics as the “branch of mathematics that uses large sets of numerical data to obtain inferences based on the french email list calculation of probabilities.” In fact, it is much more than all that, since it combines probability, description, analysis , inference, prediction and many other concepts that, all together, make up a very useful tool .
And although until recently, statistics was the branch of knowledge that owned and controlled data , it now shares the spotlight with other techniques with a more computational approach, such as big data . However, this does not make it lose any of its interest in an era in which data has become one of the great economic drivers.
What role does this tool play in the business environment?
There is no doubt that technology has created a totally interconnected world in which citizens have access to information at a global level. This situation has been a challenge for many companies, as they now have better-informed customers and greater access to external sources of information.
However, access to data and its analysis is also a business advantage, as it allows for much more informed decisions to be made. And this is where statistics come into play, a tool that allows decisions to be made in a scenario of uncertainty .
The statistical professional within the company: an asset with added value
Yes, technology now allows companies to have more data about their customers. However, not all companies hire professionals specialized in data analysis. This makes it difficult for them to properly interpret this data in order to put it into practice in the form of commercial strategies, for example.
How does a statistician help businesses?
Having a statistics professional on staff allows companies to:
Provide timely information to executive staff, allowing them to make more accurate decisions in uncertain situations.
By collecting, analyzing and interpreting numerical data, statisticians obtain results that help create good business policies.
World Statistics Day is celebrated on 20 October with the theme “Connecting the world with data we can trust”.
We explain why this branch of knowledge is an essential business tool for improving the functioning of companies.
The third edition of World Statistics Day is celebrated on October 20, 2020. This message undoubtedly highlights the importance of user trust, authoritative data , and innovation in statistical systems at a global level in companies.
Statistics is one of the driving forces behind improved decision-making in business management . However, in order to manage and interpret data effectively, companies must have a greater statistical culture.
The dictionary of the Royal Spanish Academy defines statistics as the “branch of mathematics that uses large sets of numerical data to obtain inferences based on the french email list calculation of probabilities.” In fact, it is much more than all that, since it combines probability, description, analysis , inference, prediction and many other concepts that, all together, make up a very useful tool .
And although until recently, statistics was the branch of knowledge that owned and controlled data , it now shares the spotlight with other techniques with a more computational approach, such as big data . However, this does not make it lose any of its interest in an era in which data has become one of the great economic drivers.
What role does this tool play in the business environment?
There is no doubt that technology has created a totally interconnected world in which citizens have access to information at a global level. This situation has been a challenge for many companies, as they now have better-informed customers and greater access to external sources of information.
However, access to data and its analysis is also a business advantage, as it allows for much more informed decisions to be made. And this is where statistics come into play, a tool that allows decisions to be made in a scenario of uncertainty .
The statistical professional within the company: an asset with added value
Yes, technology now allows companies to have more data about their customers. However, not all companies hire professionals specialized in data analysis. This makes it difficult for them to properly interpret this data in order to put it into practice in the form of commercial strategies, for example.
How does a statistician help businesses?
Having a statistics professional on staff allows companies to:
Provide timely information to executive staff, allowing them to make more accurate decisions in uncertain situations.
By collecting, analyzing and interpreting numerical data, statisticians obtain results that help create good business policies.