Some considerations on statistics in the business sector

2개월 전
Dear readers, as we all know statistics is a science that can be indispensable for any company no matter how big or small it is, in all my writings I make a remark about whether the company is big or small because many people think that a company for being small does not need a control or advice and it is important to clarify that an entity regardless of its size needs controls and processes so that it can also meet some proposed objective.

Image alluding to statistical processing graphs

Public domain image taken from Pixabay

In order to clarify the definition of statistics, I refer to Murray (1991) , describing statistics as the science that studies scientific methods for collecting, organizing, summarizing and analyzing data, as well as for drawing valid conclusions and making reasonable decisions based on such analysis.

Now, in the same vein, we can say that statistics is an important resource for all types of entities, since it determines through graphs and analysis a series of proposals that can benefit the company. It is for this reason that statistics helps in the decision making process of a company or organization and by means of this it is possible to achieve the objectives proposed in the best possible time.

Image alluding to statistical processing

Public domain image taken from Pxhere

In the same way, according to the above mentioned by this author, it is important to take into account how useful statistics are, since through them real and valid results can be obtained in a better time and it allows the company to have more reliability in the decisions according to the goals to be achieved.

On the other hand, it is necessary for the company to have trained personnel, since a good organization and experience are needed at the time of interpreting the results obtained. Dear readers, it should be clear that the results obtained through statistical methods generate a series of probabilities that will allow us to project the strategies that can be implemented in the medium or long term.

Thank you for sticking with me until the end. ¡Success!

Bibliographic references
Murray R.(1991). Journal of economics and statistics. Spain.

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hello @amestyj,
two things that dominate the decisions of an entrepreneur are statistics and probabilities, if a business does not know its numbers it is not possible for it to know its profitability as it will not know where in the process the business is failing on the other hand the numbers give the probability of success and with this you can make better decisions.

Result obtained from statistic method tend to be more proven and true than the assumption method I believe and that's why any company should train their community well in this area

As useful as statistics can be, many people are yet to understand it's importance. And not just because they are small companies, but ignorance and this has resulted in them crawling behind in the competitive market.

Greetings @amestyj, statistics is a fundamental pillar in any organization because it allows with its results to make important decisions in real time and take corrective actions as soon as possible.

Good article my friend.